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NirmaLabs on a talent hunt; gets DST support
Our Bureau
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"NirmaLabs has been designed to serve as a groom-incubate-grow programme to transfor outstanding individuals into techno-entrepreneurs"
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Hyderabad
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March 1
NIRMALABS, a technology incubator promoted by Nirma Education & Research Fund (NERF), the flagship entity for education of the Nirma group, is scouting for talent across the country. Its first batch could possibly see some start-ups.
It has recently received recognition by the Department of Science and Technology (DST), as a private incubator. The DST has provided a grant of Rs 2.45 crore over the next four years and a matching amount will be provided by NERF. This is in addition to Rs 10-crore corpus fund of NirmaLabs.
The Chief Architect of NirmaLabs, Mr Madhu Mehta, told Business Line, "Thus far, the first batch of three groups of programmers has been groomed and by next year, they would grow up to the start-up stage. Thereafter, we help them with venture capital support as well. Most of the projects are in the information, communication and technology (ICT) sector now."
"NirmaLabs has been designed to serve as a groom-incubate-grow programme with a view to transforming outstanding individuals into techno-entrepreneurs. Focussing on the ICT sector, we are in the process of expanding this to other areas such as biotechnology and life sciences," he explained.
"During the incubation period, the project team will evolve and develop its value proposition and transform it into a viable and fundable enterprise. The team will get an opportunity to interact with industry torchbearers, mentors and venture capitalists. Post-incubation, NirmaLabs takes equity in the new ventures created and participates in their growth," Mr Mehta explained.
"We have embarked on a process to scout for exceptionally talented people countrywide who have an entrepreneurial bent of mind and a drive to excel. Typically, fresh graduates or techies with couple of years of experience are chosen. They are provided training, funding and then helped to work on their ideas that can be taken to the market," he said.
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