CT University establishes CT Business Foundation and invites start-up ideas
Applications are invited from IT / ITES, Healthcare, Agriculture, Manufacturing, Hospitality, Pharmaceutical etc
Ludhiana, October 25, 2021: CT University has established a Section VIII company, CT Business Foundation (CTBF) and invites applications for incubation of new ideas / concepts for entrepreneurship through start-up ecosystem of University. Applications are invited from IT / ITES, Healthcare, Agriculture, Manufacturing, Clean Energy & E-Commerce, Hospitality, Pharmaceutical, Bio –Medical and Life Sciences thrust areas.
Throwing light on the same, Dr J K Sharma, Director - Research, Industry Interface & Innovation said, “Apart from financial support, facilities like co-working space, office space on subsidized rates, all corporate & legal compliances support, free power and high speed internet, one personal computer per company, access to high performance server of CTU, access to all labs and workshop for prototyping developing, access of the Entrepreneurship library, membership of entrepreneurship development cell of university, interaction with our networks of VCs and Angel investors, financial support for patenting and availing external expert mentorship, subsidized hostel facility for external team members will be provided to all incubated companies. CTBF will have equity from the companies incubated into Technology Business Incubator (TBI).”
Applications will be evaluated by an expert committee for incubation. Selected individuals or teams will get financial support up to Rs 20,000/- towards expenses for new company incorporation & seed grant up to Rs 3.00 Lakhs per company in 3 phases through competitive process which will be completed in one year from the selection with incubator.
Dr Harsh Sadawarti, Vice Chancellor, said, “We are taking care of all needs of the early stage ideas of incubates and ensuring their hand holding from early stage development to the product development stage. Till now, we have received various entries and have even started working on some. We’re looking forward to more revolutionary ideas.”