IIT Tirupati to set up Technology Innovation Hub
- `100 crore will be spend over 5 years on it by NM-ICPS
- The hub will act as a national resource centre for technology and skill development, create an ecosystem for start-ups and entrepreneurs
Tirupati: The Indian Institute of Technology (IIT), Tirupati will become the host institute to establish Technology Innovation Hub (TIH), which focusses on 'Positioning and Precision Technologies' (PPT). The national mission on interdisciplinary Cyber-Physical Systems (NM-ICPS) with the Department of Science and Technology (DST) has selected the Institute for the purpose.
Accordingly, it will invest about Rs 100 crore over five years in the proposed TIH at IIT Tirupati. It will act as a national resource centre for technology and skill development, create an ecosystem for start-ups and entrepreneurs. The TIH will be a section-8 company, a non-profit organisation which shall be monitored by the Hub governing body which includes members from industry and academia with Director, IIT-T Prof KN Satyanarayana as its Chairman.
He informed the hub will promote translational research and development of cutting edge next-generation technologies with emphasis on 'Make in India' in the field of Positioning and Precision Technologies.
"It's a major achievement for an institution which is less than five years old to be awarded a TIH under a national mission of the government which is possible due to excellent faculty and infrastructure that is being created at the Institute.