The Indian Institute of Technology, Delhi will be backing startups and research scholars that are willing to go forth with a business in deep technology, which will also include machine learning and artificial intelligence to boost the research ecosystem. The director of IIT Delhi, V. Ramgopal Rao, said that IIT Delhi has created a platform that will support upcoming futuristic technologies that require advanced R&D.
A selection process will be done by the institute after which startups that focus on mixed reality, connected intelligent systems, medical research, drug discovery, and advanced materials, will be taken on board. IIT Delhi has promised to provide some benefits to the candidates like connecting them with venture funds and seed funding, apart from free mentoring and workspaces. The institute believes that this initiative will be crucial for the industrial growth of the country in the future.
This move of IIT Delhi is helpful for research scholars and startups and it will also help the institute benefit from the research output. IIT Delhi is one of India’s six Institutions of Eminence (IoE) which will gain an advantage by this initiative from academia-industry collaborations too. The recently established technology research park of IIT Delhi in Sonepat is going to house these startups which are not older than 3 years.
The plan document formulated by IIT Delhi on this initiative underlines the fact that India has experienced major startup success in the field of e-commerce business and services but the startups pertaining to deep technology are few. The need to find viable support mechanism capable of attracting scientists and engineers interested in the journey of innovation-driven entrepreneurship is being addressed by this move of the institute.
IIT Delhi has been pondering over spending a sum of Rs. 2,500 crores, which will include Rs. 1,000 crores IoE grant, for enhancing its physical infrastructure, research facilities, and outreach in the coming years. It was ranked the third best institutions of India by a prominent government ranking and the QS World University Ranking placed in among the top 200 universities of the world.