The first ‘Partner Incubator’ in Salem is to be set up jointly by IIT Madras Incubation Cell and Sona Incubation Foundation to promote technology-based entrepreneurs.
The MOU for this purpose was signed in the presence Mr Chocko Valliappa, Sona Group Vice Chairman on August 27, 2021 in Chennai by Professor Ashok Jhunjhunwala on behalf of IITM Incubation Cell and Dr S.R.R Senthilkumar, Principal, Sona College of Technology and Dr. ir. Nirmalesh K. Sampath Kumar, Director, Innovation and R&D at the Sona group and IITMIC’s Strategy Officer Mr Pradeep Murlidhar and Ms Seema Shivanath.
“We are delighted to bring the first Partner Incubator jointly with IIT Madras Incubation Cell to Salem to promote and support untapped creativity of individual innovators and assist them to become technology-based entrepreneurs,” said Mr Chocko Valliappa, Vice Chairman of Sona group of Institutions.
“We now look forward to exceptional ideas from students and alumni, especially in areas like electric mobility and wearable technology for use in healthcare,” Mr Chocko Valliappa added.
A technology veteran, Professor Ashok Jhunjhunwala, Institute Professor at IIT Madras said, “In an effort to find entrepreneurs in the deep interiors of Tamil Nadu we started our search for an ideal institution engaged in serious research with active participation of students in industry projects. In the R&D labs and top academic leadership at Sona group of institutions we found a deep commitment both to research and entrepreneurship.”
IITMIC has incubated 233 start-ups so far, of these 88 have already in the market. These start-ups have filed for over 125 patents and have generated over 4000 jobs added Professor Ashok.
Those accepted by Sona’s ‘Partner Incubator’ shall have access to facilities and services extended by IIT Madras Incubation Cell for an initial period of three year. IITMIC will also support the ‘Partner Incubator’ in conducting training, motivational, experiential talks and events to generate excitement, and in building and strengthening its entrepreneurial ecosystem.
In addition, technical and business mentoring, seed funding, and connect with angels and venture capitalists will also be provided.
Mr Chocko Valliappa said that while the incubatees at ‘Partner Incubator’ will be free to choose technology areas to deploy in their startups they would encourage ideas that leverage wearable technology as well as e-mobility.
