Birla Institute of Technology and Science, Pilani (BITS-P)
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Technology Business Incubator
Started in 2004 - GIVING WINGS TO IDEAS, March 26, 2017: The Times of India
A SANDBOX FOR RESEARCH AND DEVELOPMENT Technology Business Incubator, BITS Pilani
The idea: An enthusiastic group of alumni and faculty was keen to start an incubation facility on campus, and build an ecosystem that would inspire students to turn entrepreneurs.
Spearheaded by students, several initiatives like the Centre for Entrepreneurial Leadership (CEL), Pilani Innovation and Entrepreneurship Development Society and finally Centre for Innovation, Incubation and Entrepreneurship (CIIE) were set up. The incubator was initially set up to help startups in the area of embedded system and VLSI design. It now supports multiple disciplines including education, health, e-commerce and entertainment.
Benefits to startups: Develop, test and evaluate new ideas, building and testing of prototype, mentoring, networking, legal assistance, connect with investors USP: Largely student-driven activities with guidance from faculty members. “Our uniqueness is an integrated package of services that improves their chances of success, deeper involvement of alumni in mentoring as well as funding ventures, as also in creating an ecosystem on campus,“ said Arya Kumar, professor, BITS Pilani Progress: 26 startups have graduated, 10 are under incubation. Four startups have received seed fund support under government schemes with two more in the pipeline.
Several have bagged funding from alumni.
Success stories: redBus was founded by BITS Pilani students and grew into one of the largest online bus ticketing platforms. Grey Orange, founded by Samay Kohli and Akash Gupta, led their team at BITSPilani to design and develop India's first indigenous humanoid named AcYut, which won numerous robotic competitions around the world at universities like Stanford and Berkeley.The company raised angel funding followed by Series A funding from Tiger Global and Blume Ventures, amounting to around Rs 54 crore.