May 20, 2020
STEM Cell at The Society for Innovation and Development (SID) in IISc incubates startups that have deep science and technology at the core.
STEM Cell at The Society for Innovation and Development (SID) in IISc incubates startups that have deep science and technology at the core. CS Murali, chairman of the Entrepreneurship Cell, SID, IISc, talks to Sudhir Chowdhary on how the incubator is aiding startups. Excerpts:
How is SID aiding the startups leading the fight against Covid-19?
A major challenge for startups was access to research labs. As a majority of startups involved in Covid related research were not software-oriented, work-from-home was not a viable option. SID ensured special permissions for them in terms of facilitating access to resources and labs. Another issue was access to funds, components and other requirements to build the solutions. SID approached corporates to support Covid-19 associated endeavours under their CSR programmes. The third issue was government validation of Covid-19 solutions. SID helped startups coordinate with ICMR to get test methods validated for deployment.
What is the process of incubation at SID?
SID concentrates only on Deep Science and technology startups that are not only commercially viable but can make a considerable societal impact. Deep Science startups require a longer gestation period to build products, a large amount of seed capital and space as well as precision manufacturing. SID aids them to access knowledge and laboratory resources at IISc, this enables access to government grants. It also supports entrepreneurs under the EIR programme to help them validate the commercial feasibility of their ideas.
How many startups has SID incubated?
STEM has incubated 33 startups. SID has recently laid the foundation to a new 12,000-square meter research park and from next year expects to induct 10 startups every year. Through government grants for entrepreneurship and incubation, SID has been able to provide some seed capital to startups. SID connects individual and institutional investors to startups and many of them have raised capital from these sources.
A major challenge for startups was access to research labs. As a majority of startups involved in Covid related research were not software-oriented, work-from-home was not a viable option. SID ensured special permissions for them in terms of facilitating access to resources and labs. Another issue was access to funds, components and other requirements to build the solutions. SID approached corporates to support Covid-19 associated endeavours under their CSR programmes. The third issue was government validation of Covid-19 solutions. SID helped startups coordinate with ICMR to get test methods validated for deployment.
What is the process of incubation at SID?
SID concentrates only on Deep Science and technology startups that are not only commercially viable but can make a considerable societal impact. Deep Science startups require a longer gestation period to build products, a large amount of seed capital and space as well as precision manufacturing. SID aids them to access knowledge and laboratory resources at IISc, this enables access to government grants. It also supports entrepreneurs under the EIR programme to help them validate the commercial feasibility of their ideas.
How many startups has SID incubated?
STEM has incubated 33 startups. SID has recently laid the foundation to a new 12,000-square meter research park and from next year expects to induct 10 startups every year. Through government grants for entrepreneurship and incubation, SID has been able to provide some seed capital to startups. SID connects individual and institutional investors to startups and many of them have raised capital from these sources.