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The Centre for Entrepreneurship and Development assists young entrepreneurs to initiate and introduce technology startups for the commercial exploitation in the fields like electronics and ICT. MSME Development Institute organised an event on technology business incubation and seed funding process and opportunities for young entrepreneurs. Apart from seed funding and access to other essential facilities at NITT, aspiring entrepreneurs were given incubated companies.
As per the release, Sonata Software and CEDI have joined hands to promote and initiate such innovations. They also wish to promote entrepreneurship and the software firm committed significant funding towards the same. Also, potential entrepreneurs attended the information event conducted in connection with this on Saturday and submitted applications. NIT Trichy is one of the top engineering college in the country offering various engineering specialisations and master's programme.
CEDI has received a grant of Rs 1.2 crores from Sonata software and has also received the funding from the ministry of information technology for the same. Usav Mathur, Founder of a virtual startup and NIT Alumni state that the CEDI is very helpful and encouraging. As new companies need cash flow to get some attention and also requires technical sessions and a way to get industry specific details.