Exciting Surge in Research Faculty Transforming Innovations into Start-Ups Sparks Hope and Progress
The Indian Institute of Science (IISc) in Bengaluru is witnessing a growing trend of scholars and faculty transforming research into commercial ventures. To foster this entrepreneurial spirit, IISc is offering incentives like weekly offs and sabbaticals for start-up initiatives. However, challenges persist due to the nascent state of India’s deep-science start-up ecosystem. C.S. Murali, Chairman of STEM Cell and the Foundation for Science, Innovation and Development (FSID), discussed IISc’s strategies in an interview with The Hindu.
The FSID, a Section 8 company, was established to facilitate collaborations between IISc and external entities. Its STEM Cell focuses on science, technology, entrepreneurship, and monetization, prioritizing the commercialization of scientific research. This deep-science incubator supports start-ups involved in diverse fields by providing physical space, group insurance, access to IISc resources, and mentorship, while taking an equity stake in return.
Despite the supportive environment, start-ups face early-stage funding challenges, the need for space, and difficulties in market entry due to tech-focused backgrounds of founders. To address these, IISc introduced a deep mentorship program, connecting start-ups with experienced industry veterans.
To further accelerate growth, Murali emphasizes the role of committed founders, supportive incubators, and early-stage investors. Corporations can assist by testing products in the market, while the government should streamline regulatory processes and revise procurement policies favorably for start-ups. Though STEM Cell does not provide grants, it relies on government assistance and corporate social responsibility (CSR) funds, aiming to bridge funding gaps.
IISc’s initiatives mark a promising yet challenging path for India’s deep-science start-ups, requiring continued efforts from various stakeholders to unlock their full potential.
Original Story https://www.thehindu.com/news/cities/bangalore/more-research-faculty-coming-forward-to-translate-research-into-start-ups-is-a-positive-trend/article68772102.ece
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