Harkesh Mittal (left), advisor and head of National Science and Technology Entrepreneurship Development Board, inaugurates the PSG Nanotech Research, Innovation and Incubation Centre in Coimbatore on Monday. L. Gopalakrishnan, Managing Trustee of PSG Sons and Charities is seen in the picture . | Photo Credit: S. Siva Saravanan With efforts to encourage commercial production of innovative products in areas such as biotechnology, internet of things, and nano technology, about 30 % companies at the technology business incubators in the country are in such high-end technologies, Harkesh Mittal, advisor and head of National Science and Technology Entrepreneurship Development Board (NSTEDB), told presspersons here on Monday. He inaugurated here the PSG Nanotech Research, Innovation, and Incubation Centre, which is a collaboration of the PSG Institute of Advanced Studies, PSG College of Technology, and PSG-STEP and is supported by the NSTEDB. This is the only incubation centre so far for nano technology and it will focus on smart textiles, healthcare, renewable energy, and plastic electronics. The area of nano technology is new and lot of research is happening in this field. There is a need for transfer of technology, taking ideas to the market. The incubator will support such an effort, he said. The NSTEDB aims to start 20 new technology business incubators every year in different verticals. There are 110 technology business incubators in the country and 50 of these give seed support to the incubatees. The NSTEDB gives ?10 crore to each of these incubators and the amount is disbursed as loan or equity in two to three years. The National Initiative for Developing and Harnessing Innovations was launched last year. Under this initiative, an incubator gets seed support, has the scope to upscale, and will get support to covert ideas into prototypes. PSG STEP will launch shortly an entrepreneurial residential programme. It is among the 10 incubators in the country that will offer fellowship for a year to students who are entrepreneurs. A student can receive up to ?30,000 a month. E...

News Source: http://www.thehindu.com/news/cities/Coimbatore/nanotech-incubation-centre-inaugurated/article17381285.ece

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Nanotech incubation centre inaugurated - NYOOOZ