Introducing Incubator TBI@ Kongu Engineering College: Aims to foster Innovation in Entrepreneurship

There are thousands of organisations across the world which are
using a variety of methods to provide an environment which reduce the costs and overcome barriers to launching and growing enterprises. Incubation happens in accelerator programmes, social venture academies, competitions, through the work of early stage investors and through various learning programmes.

Earlypad believes in supporting early stage entrepreneurs to connect with incubators who help in growth of young business and conversion of new business ideas into business opportunities.

Incubator of the week

Technology Business Incubator@Kongu Engineering College,Perundurai,Tamil Nadu

TBI@KEC is Technology Business Incubator @ Kongu Engineering College which was established in the year 2003 by KEC in the campus with the support from DST/GoI. It won the coveted National Award for the best TBI in the country for the year 2012. It helps young firms to survive and grow during the startup period when they are most vulnerable.

Vision and Mission

Its vision is to create efficient entrepreneurs in the areas of emerging technologies and contributing towards nation’s growth by catering towards the needs of changing environment.

It aims to provide congenial atmosphere with adequate infrastructure facilities for motivating entrepreneurs to conduct business development in the emerging technologies. It has set its strong mission to provide support services for sustainable growth of young budding entrepreneurs.

Services Offered:

TBI@KEC offers a wide range of service including:

  1. Business Planning & Development
  2. Engineering & Design
  3. Testing
  4. Prototyping
  5. Packaging of the concept
  6. Marketing & Legal Assistance
  7. Assistance for licences,finance & clearances
  8. IPR related issues
  9. Post Incubation Services
  10. Round the clock security for TBI premises
  11. Confidentiality with regard to product development of entrepreneurs
  12. Repair/Reengineering
  13. Consultancy
  14. On campus accomodation
  15. Funding assistance upto 50 lakhs to deserving incubatees

Funding Schemes By TBI@KEC

  • NIDHI-PRAYAS– National Initiative for Developing and Harnessing Innovation – Promotion and Acceleration of Young and Aspiring innovators and start-ups helps young and aspiring innovators and provides support/funding from idea to prototype. The funding limit is upto Rs.10 lakh per project/idea as grant for ideas into prototype in a duration of 18 months. The priority areas for supporting innovations under NIDHI PRAYAS program are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IOT) and other technology areas.
  • NSTEDB/DST/GoI -This seed support system helps the young firms to survive and grow by providing specialized support service during the critical period of business venture i.e the start-up phase and caters to early stage funding for indigenous ideas and technologies. The funding limit is Min of Rs.2 lakh – Max of Rs.50 lakh in a phased manner as soft loan @ 5% interest PA. The priority areas are Product development, Testing and Trials, Test Marketing, Mentoring, IPR issues, Professional Consultancy & Fellowship and Manpower for day to day operations.
  • TDB/DST/GoI – This Seed Support System for Start-ups encourages and fosters technological entrepreneurship by individuals who are just getting started and also the new generation of entrepreneurs. The funding limit is Min of Rs.1 lakh – Max of Rs.25 lakh in a phased manner as soft loan @ 5% interest PA.
  • MSME/GoI – Support for Entrepreneurial and Managerial Development of SMEs through Incubators nurtures innovative business ideas which could be commercialized in a year.The funding limit is upto Rs.6.25 lakh per project/idea as grant. The entrepreneur has to bear 15% or 25% of the total project cost depending on whether it is a micro or small enterprise.The areas of support includes Technology fee, office support facilities, machinery hiring, guidance fee for mentors /handholding setups, electricity and accommodation charges etc.
  • NSTEDB/DST/GoI – This Incubation Fund supports high growth, knowledge based venture creation by providing bridge funds and establishes and nurtures new start-ups by scaling up the technology through academic/industrial research.The funding limit is maximum of Rs 5 lakh either in single or phased manner as soft loan. It supports Product development, Testing and Trials, Test Marketing, Mentoring, IPR issues, Professional Consultancy & Fellowship, Manpower for day to day operations.

Just in case you want to go through their social pages we have listed down the social media links of TBI@KEC