With many youngsters opting to become entrepreneurs, the amount of Start-ups in India today is on the rise, thanks to the support of both private and the government organizations. A notable few ace academic institutions run their Science and Technology Entrepreneurial Park and PSG College of Technology is one among them.
Recently, PSG-STEP received a Bio-Nest, Biotech Incubation Centre with the support of Biotechnology Industry Research Council (BIRAC). It was inaugurated on June 7th by Manish Diwan, Head, Strategic Partnership & Entrepreneurship Development, BIRAC, Govt.of India. This incubation center was established at a cost of Rs.4.20 Crores with a major share coming from BIRAC (approx. Rs.3 Crores)
Addressing the gathering, the Chief Guest said that so far there are 41 incubation centers in the country with the support of BIRAC and out of the total 9 are in private institution. He said the government is in plans to add 10 incubation centers every year.
The core objective of this incubation center is to nurture biotechnological product innovations and startups working at the intersection of biosciences and technology. Applications are now welcomed from aspiring entrepreneurs who have novel ideas in the biotech field. Bio-Nest will provide the needed infrastructure to nurture the projects.