Have an innovative idea and want to turn it into a product or a service? Here is a good opportunity. The Osmania University is establishing the Osmania Technology Business Incubator (O-TBI) to create innovation and incubation eco-system on the campus. Students, researchers and faculty members with the best innovative ideas will not just get mentorship but also financial assistance.

The administration which zeroed in on Central Facilities for Research and Development building to establish the incubator has earmarked Rs 6 crore from the sanctioned Rs 100 crore under Rashtriya Uchchatar Shiksha Abhiyan (RUSA) 2.0 scheme.

Earlier, the varsity administration had knocked the doors of Union Government seeking grants under Atal Incubation Mission and from Department of Science and Technology. However, on two occasions, the university was turned down for grants. The funding agencies wanted the university to establish incubation centre with its own money and later seek financial assistance.

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While the building is ready and the university is working to create state-of-the-art facilities for the incubator with sophisticated facilities, the administration intends to make incubation centre into a business model and make available working space for the university students besides renting out to the other incubates and startups.

“The university has focused on creating the infrastructure and in about 100 days, the incubator will be fully operational,” said Dr. C Srinivasulu, In-Charge Director, Osmania Technology Business Incubator and also Assistant Professor at Department of Zoology, University College of Science, OU.

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The university would be roping in industry experts, faculty with technical know-how, senior most scientists from the premier research institutions like Centre for Cellular and Molecular Biology, National Institute of Nutrition and Indian Institute of Chemical Technology for mentoring the incubatees and startups.

Getting an entry into this incubator will not be a cakewalk for everyone. Only the best innovative ideas will be accepted for incubation after a preliminary scrutiny. The university administration also has plans to rope in companies for providing financial assistance for products and services that come out of the O-TBI. To take forward the business aspect, the administration has registered Osmania Idea Labs Foundation under the Section 8 of the Company Registration.

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“The university will be using RUSA grants for establishing the incubator which will give a platform students and faculty to present their ideas and best ones will be incubated. We have also registered under the Section 8 of the Company Registration,” Prof. S Ramachandram, Vice-Chancellor, OU said. #KhabarLive