The National Institute of Technology (NIT), Goa, is set to establish a start-up centre for its students, for which funds will be provided by the central government. While the Union ministry of human resource development will provide 25 lakh per year, the directorate of science and technology will offer an equal amount as aid for the centre.
Goa NIT’s start-up centre will receive the 50 lakh aid for a period of three years, initially. While half the money will be utilised each year as seed money for the start-ups, the remaining amount will be invested in infrastructure for the start-up centre.
The centre is expecting to fund a maximum of 10 projects in the first three years of its establishment.
NIT director G R C Reddy said that NIT Goa has already begun the process of establishing the start-up centre and that the institute is also planning to set up an incubation centre of its own soon to “provide solutions to the state’s problems”. Reddy announced the institute’s establishment of the start-up centre at NIT Goa’s three-day technology festival Technival-2016, which was held this week.
Director, Goa IT Innovation Centre, Jervis Pereira, speaking at the event’s opening about start-ups said that it is important for one to find passion in one’s work leading to the creation of jobs. He said that Goa, despite the cliche about its laidback lifestyle, is still one of the major contributors in the field of IT. He told the participating students from NIT and all other engineering colleges in Goa that a business exists based on the combination of people’s requirements and delivering subsequent remedies.
Technival-2016 was focused on providing a platform for innovators to showcase their creativity and to empower aspiring engineers with the latest ideas and trends in their respective fields.
A demonstration was also held for students on Net Plug-Bolt, an Internet of Things (IoT) platform. In his presentation, Ryan D’Costa of Inventrom introduced the possibilities ahead for IoT enthusiasts.