TREC-STEP’s NITI Aayog Atal Innovation Mission - Scale-up support for Established Incubation Centre Project

In 2017, TREC-STEP has been selected as one of the six incubators, from among 232 applicants, nationwide, by the NITI Aayog Atal Innovation Mission – Scale-up support for Established Incubation Centres project, to scale-up its Incubation performance to World Class Standards. Under this project, TREC-STEP shall promote 80 high tech, high growth technology ventures and 400 Skill based MSME ventures in a period of 5 years. In order to successfully achieve this milestone, TREC-STEP has taken-up a spectrum of synergistic activities, including

• The establishment of Chennai Technology Business Incubation Centre, for greater reach out to more numbers of innovative start-ups, across the country.
• Partnership with the experienced Indian Diaspora domain experts in the USA, for knowledge sharing and mentoring of budding Tech ventures, for scale-up,
• Modernization of Incubation infrastructure, such as common production facilities at TREC-STEP, Trichy with state-of-the–art CNC machines and renovation of existing nursery incubation facilities, campus utilities, etc.
• Novel and customised Incubation programmes and partnerships, for strengthening the nurturing incubation eco-system and boosting the promotion of more vibrant start-ups in the region, leveraging new job creation and economic growth, manifold.

TREC-STEP has commenced the process of expanding its Incubation services to reach out to many more budding entrepreneurs and is hand-holding them through a well-defined incubation process, to ensure leveraged venture performance and growth, while also warranting the deliverables of 80 vibrant High growth, Hi-Tech start-ups and 400 Skill based MSME ventures, under the NITI Aayog EIC Project, are successfully met. TREC-STEP is currently working with 36 prospective ventures, in Trichy and Chennai, primarily from the clean tech, clean energy, medical tech and few other manufacturing sectors. These innovative, product based start-up ventures ensure creation of new jobs, better quality of life due to commercialization of new innovations/technologies, Intellectual property creation and leverage country-wide economic growth due to the increased sales turnover, new investments and tax revenues.