MANIPAL: In a first of its kind initiative in the country, Manipal University which has established the Innovation Centre and Technology Business Incubator (MUTBI) at Manipal Institute of Technology (MIT) will set up satellite centres at Manipal University institutions at Sikkim in June this year and Jaipur on March 21 to support the alumni.
Currently the Centre in Manipal supports six companies with nearly 15 employees and 45 interns working for them. The management hopes to target 50 companies and employee strength of 1,000 in the next five years. ''The plan to start the satellite centres is in line with the Social obligation of the University (not for profit) to encourage and nurture innovation and entrepreneurship among students, faculty and people of the region,'' said Luis Miranda, co-chairman of MUTBI.
MUTBI was established as part of the university's growth in innovation and entrepreneurship in 2010. The initiative forms part of its vision to become a world class university. The centre has been encouraging student innovations and start-ups and is developing an ecosystem for boosting research, said Miranda.
The operating expenses of the Centre are supported by the Department of Science and Technology, with a funding of Rs 3.3 crore and an additional fund of Rs 66 lakh from Medium and Small Medium Enterprises (MSME).
Currently the Centre in Manipal supports six companies with nearly 15 employees and 45 interns working for them. The management hopes to target 50 companies and employee strength of 1,000 in the next five years. ''The plan to start the satellite centres is in line with the Social obligation of the University (not for profit) to encourage and nurture innovation and entrepreneurship among students, faculty and people of the region,'' said Luis Miranda, co-chairman of MUTBI.
MUTBI was established as part of the university's growth in innovation and entrepreneurship in 2010. The initiative forms part of its vision to become a world class university. The centre has been encouraging student innovations and start-ups and is developing an ecosystem for boosting research, said Miranda.
The operating expenses of the Centre are supported by the Department of Science and Technology, with a funding of Rs 3.3 crore and an additional fund of Rs 66 lakh from Medium and Small Medium Enterprises (MSME).
TOI
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