Kerala - Thiruvananthapuram   

TBI at Technopark wins national award

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Industrial promotion: Technopark Chief Executive Officer N Radhakrishnan Nair receiving the Technology Business Incubator award from APJ Abdul Kalam in New Delhi on Sunday

Thiruvananthapuram: The Technology Business Incubator (TBI) at Technopark here has bagged the national award for the year 2007. The award is instituted by the Department of Science and Technology, government of India, for encouraging and recognising the business incubation activity, which plays a key role in promoting the entrepreneurial culture in India.

Former President and renowned scientist A.P.J. Abdul Kalam presented the national award at a glittering ceremony held in New Delhi on Sunday as part of the Technology Day 2008 celebrations. Union Minister for Science and Technology Kapil Sibal was present.

N. Radhakrishnan Nair, CEO, Technopark, and K.C. Chandrasekharan Nair, CFO and Programme Manager – New Initiatives, received the award from Dr. Kalam.

Technology business incubation aims to identify potential entrepreneurs with innovative ideas and nurture them through different phases of growth, until the business takes off to a maturity level, where it becomes a financially sustainable venture.

It plays a catalytic role in promoting indigenous technology development, encouraging entrepreneurship and thereby boosting the overall economic growth of the nation.

“Technopark, through the technology business incubation initiatives, is creating an ecosystem and a fertile ground that promotes the spirit of innovation and entrepreneurship. We are proud of the fact that we have incubated more than 70 start-up technology companies in our incubation facilities in the past four years with a success rate of over 90 per cent. The award by the government of India is a great recognition for our pioneering efforts in bringing knowledge- driven industries to Kerala by spurring entrepreneurial spirit amongst our technocrats and a motivation for us to attempt bigger things,” said Mr. Nair, on receiving the award

The Technopark Business Incubation Centre (T-BIC) was established in 2002. Following the success of this initiative, Technopark started the Technopark-Technology Business Incubator (T-TBI) in 2006 with funding from the Department of Science and Technology (DST). TBI was aimed at providing budding entrepreneurs in the “knowledge driven” industry all facilities and support to tide over their teething problems and establish their company in a short time.

As on March 31, 2008, the T-BIC and T-TBI together have incubated 71 start-up companies.

Out of these, 35 companies have graduated and moved into larger space on the Technopark campus itself, while 32 are still continuing their operations in the incubator, thus yielding a success rate of almost 95 per cent.

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