Indian Institute of technology – Bombay (IIT-B) is all set to open an innovation hub through academic – industry collaboration. The main agenda is make is to build a strong relationship with the industries by starting Research & Development labs in the institute and encourage entrepreneurship. The students will no longer need to seek help from outsider for their startup ideas.
The research park will be built outside the campus. The first phase of the park will begin in early 2017 and the second and third phase of the park will be completed by 2023. The total projected area will cover over 10, 00,000 Sqft.
According to the campus magazine “the plan for the parks began in 2014. The phase 0 (interim arrangement) which will take place in campus, looks to make debut in 2017. The first phase will be completed by January, 2019 which will have dedicated building for the park”. A US based company, Applied Materials, has already joined IIT-B Research Park as an anchor client.
IIT-B will name their research park as ASPIRE (Applied Science Park for Innovation Research and Entrepunership). IIT-M (Madras) and other IIT’s across the country have already got their research parks which are selected by Ministry of Human Resource Development (MHRD).
The article also quotes that “The faculty and companies collaboration will help students to look into the real-world applications of their chosen field. It’s a new phase of education which will change the face of research and development in IIT-B.”