Visit to Foundation for Innovation and Technology Transfer (FITT)
10th April, 2017
Dronacharya Group of Institutions, Greater Noida organized a visit under the aegis of DGI Entrepreneurship Development Center to Foundation for Innovation and Technology Transfer (FITT), Indian Institute of Technology, New Delhi on 10th April 2017. Seventeen Students from CSE, IT, ME and ECE departments along with four Faculty Members Mr. Sunil Kumar, Mr. Vibhooti Narayan Mishra, Ms. Shilpi Jain and Ms. Monu Singh visited the incubation centre.
The purpose of this visit was to create awareness about Technology Incubation and Commercialization of R & D products and processes.
Mr. P. Somarajan, Executive Consultant - Business Development, FITT Delhi, welcomed the students and introduced FITT, its market perspective and origin of the institute. He said that FITT is an industrial interface organization which was established on 9th July 1992 at the Indian Institute of Technology Delhi (IIT Delhi) as a Registered Society. The mission of FITT is to be an effective Interface with the Industry to foster, promote and sustain commercialization of Science and Technology in the Institute for mutual benefits. For over twenty years now, FITT has been an interface between the Institute and the industry and has been devising innovative ways to create partnerships and linkages with business and community to enable knowledge transfer for common good. Prof V Ramgopal Rao, the Director IIT Delhi is the Chairman of FITT and Dr. A. Wali is the Managing Director of FITT.
Mr. Somarajan stated that Incubation program ensures that an individual seeking to start or promote the growth of their enterprise has easy access to the knowledge, experience in management and financial resources. He discussed the evolution of technologies and its growth. Why and which technology should be selected matters a lot because in this rapid changing era not a single technology stay for a longer time. One should regularly try to update his / her knowledge about that technology. He also focused on facilities provided by FITT. He mentioned two units of FITT; one is technology based and other one is biological based. He also pointed out that only 20 start-ups are incubated at one time and provided funding for two years.
There was an interactive questions and answers session in which students raised questions and their doubts regarding incubation which were addressed by Mr. Somarajan.
Mr. Ashutosh Pastor, In Charge - Biotechnology Business Incubation Facility, FITT introduced the biological labs. He said that FITT is going to start a new campus at Sonipat which will be much larger then FITT campus. Mr. Pastor said that incubator team must have one member from any IIT’s. Applicants can submit their proposals on the FITT website. An independent panel of subject matter experts established by FITT will review and shortlist the potential incubates. He also introduced the student with incubators who are working there on Super Bucks diagnostic kit which determines buck within 3 hour. He also discussed some of the Technology Business Incubation Unit currently running under FITT:
- Dr. Sarita Ahlawat
- Aquasense Pvt. Ltd
- Creditas Solutions Pvt. Ltd
- Luminasic Pvt. Ltd.
- Omnia Information Pvt. Ltd.
- Vizara Technologies Pvt. Ltd.
After healthy discussion, students visited the FITT Labs. The students had an opportunity for one to one discussion with many of the entrepreneurs.
The visit came to an end at 1:30 PM. It was an informative and successful visit.