In order to promote research, innovation, incubation, and start-ups, IIMT University has established two business incubators. IIMTU-BI, which has been approved by the Ministry of MSME of Indian Government and IIMT-Business Incubator Foundation, which is registered under Section 8 of the Company Act of 2013. Both have pre-incubation and incubation facilities on campus in the fields of engineering and technology.
1. Dr. Maud Van Den Meiracker, a senior specialist from the Netherlands, regularly visits the Business Incubator to upgrade it and guide it step-by-step towards a successful BI which is technically assisted by PUM.
2. The IIMTU-BI is associated with TBI-IIT (Ropar) for technology transfer and technical guidance.
3. The IIMTU-BI has incubated innovative ideas of students, faculties, and others in the fields of engineering & technology, computer science & application, pharmacy, applied sciences, health science, and many interdisciplinary areas.
4. The Business Incubator has got a pool of mentors and investors to assist in incubator activities such as mentorship and fund raising activities.
Regions of B.I are as follows:
(a) Projects using cutting-edge technologies in various engineering and technological disciplines.
(b) Projects with significant social benefit
(c) Projects involving industrial applications
(d) Projects including applications for people.
(e) Innovative projects in medicine, pharmacy, and the health sciences
(f) Projects involving natural remedies or medications.
Students can use the expertise of our well - trained and experienced faculties to work on cutting-edge projects because they are capable of conducting research at the national and international levels. We have an R&D pool of professionals in several technical and technological sectors as well as medical sciences here at IIMT University who may act as mentors and counselors. Various science and engineering departments' faculties have created novel goods and technologies for IIMT University's research and consulting services, including: The institute's personnel and students have been providing various consulting services to nearby businesses and industries in the form of website and module creation, maintenance, and R & D.
Budget provisions for seed funding and other things
The IIMTU has funds set aside in its budget for the promotion and support of innovation and entrepreneurship development for students, faculty, staff, and start-ups. These funds are designated for training and awareness sessions, seed funding for early startups, pre- and incubation facilities, innovation, and IPR commercialization.
IIMT-U BUSINESS INCUBATOR AND RND CELL SUCCESS STORIES
1. A patent is granted for the Sanjeevani drip level indicator - The product was first used at the IIMT Lifeline Hospital and is now commercially available in numerous hospitals. The gadget is used to continuously check the drip level and sounds an alert when it reaches a preset setting, allowing the drip level to be altered in time to avoid blood backing up into the drip bottle.
2. Solar Tree- Patented Design
3. Instrument for use by Power Corporations to protect linemen working on electrified lines.
