IIT-Delhi is also setting up a separate incubation centre at Sonepat, Haryana to incubate around 50 companies every year.
In a bid to boost startup ecosystem in India, Indian Institutes of Technology (IITs) will help their PhD students to convert their thesis into startups.
The IIT-Delhi is set to execute the plan by giving its doctoral students an option to start their own venture at a separate incubation centre, Mint reported.
Ramgopal Rao, Director, IIT-Delhi, has said that it will be a platform to harness deep technology from blockchain to artificial intelligence via young companies. “The aim is to convert thesis to startups,” he added.
According to Rao, around 25,000 researchers are currently pursuing doctoral studies at centrally funded technical schools (CFTIs) and IIT-Delhi will tap a portion of them and give them the option to start their own venture at a separate incubation centre.
Shortlisted candidates will be provided a monthly compensation “at par with the industry salary” to pursue their startup journey. Besides, they will be provided seed capital, free mentoring, accommodation and access to IIT-Delhi labs. Also, the IIT will be helping them connect with venture capital funds to raise money if they need any.
IIT-Delhi also said that they are setting up a separate incubation centre at Sonepat, Haryana to incubate around 50 companies every year.
Doctoral students who have done research on deep technology in areas like artificial intelligence, cybersecurity, sustainable energy, blockchain technology, infra security will get a chance to work more on their ideas and develop it into companies, a professor at the IIT-Delhi said.