IIT Hyderabad aims to quadruple research funding to Rs 200 Cr by 2024
IIT Hyderabad’s Vision for 2024 envisages enabling 40 companies and 50 startups to be set up in the Institute Research Park and Incubation Centre.
Prof BS Murty, the new Director of Indian Institute of Technology, Hyderabad, on Thursday, unveiled "IIT Hyderabad’s Vision for 2024", which envisages enabling 40 companies at the Institute Research Park from the current five, and increasing startups incubated from the present 20 to more than 50 at its Incubation Centre.
Addressing a press conference at the campus, Prof BS Murty said,
“A Research Park and an Incubation Cell spanning 1.5 lakh sq ft each are also coming up, which will be a major boost to startups and industry relations. The Institute is also introducing an MTech in healthcare entrepreneurship. Further, the Institute also plans to launch Industry-supported MTech programmes in sectors such as e-waste management, cybersecurity, and advanced manufacturing.”
The institute will also be launching a new department called the Department of Management and Entrepreneurship, which will focus on encouraging students to become ‘job generators’ through entrepreneurial activities.
Earlier this month, an E-Summit was conducted to enthuse the students to take up entrepreneurship.
The institute has set a target of generating Rs 200 crore per year to fund Institute Research by 2024 through various sources. The current level of research funding stands at Rs 50 crore a year.
Prof BS Murty added,
“Since August 2019, IIT Hyderabad has entered into four MoUs with Japanese Institutes and entered into five collaborations with Indian Research Centers, Private Companies and the Government of Telangana.”
It is also contributing to the environment through green campaigns, such as monthly plantation drives, urban forests and working towards a ‘Zero Waste’ campus. Sensor-based water filters have also been installed on each floor in the academic blocks to conserve water.
Other highlights of the roadmap to Vision 2024, include doubling faculty strength of the institute to 400 and increasing the student strength to 5,000 from the current level of 2,850.
(Edited by Saheli Sen Gupta)