Trec - Step

Developing ICT Synergies for Incubating Start-ups Project

TREC-STEP has been awarded the prestigious World Bank InfoDev grant in 2004, for developing a new business incubation initiative titled 'Developing ICT Synergies for incubating Start-ups'. This proposal also brings together the support from Department of Science and Technology, Government of India, for a specialized Design innovation facility and the Ministry of Small Scale Industries, Government of India and Tamilnadu Small Industries Development Corporation's support for the incubator's built-up modular space, building and other infrastructure.

The infoDev, World Bank and DST Project@TREC-STEP

Opportunities unveiled by new global development provide immense scope for ICT enhanced Business Incubation processes and for promoting high growth start-ups. TREC-STEP, with its good track record of Best Performing STEP in India, to enable greater focus for promoting start-up clusters, proposes a series of ICT enhanced incubation initiatives for developing ICT Synergies in Business Incubation. A set of innovative initiatives shall facilitate formation and growth of start-up clusters providing more jobs and wealth creation in the region. The dormant regional competencies are planned to be leveraged to access and benefit from global businesses by providing a new set of incubation inputs. Incubation processes in India are yet to adopt suitable ICT strategies, ICT retooling and ICT synergies for incubating start-ups, which, if made available, can use the Indian talent in various sectors, for the benefit of the society. This proposal shall be a flagship Incubation initiative in India for other incubators to emulate.

Key Outputs

In order to achieve the goal of developing regional competencies for accessing, networking and utilizing the global performance standards, markets and opportunities through a vibrant cluster of start-up ventures, the following key inputs and platforms are planned as the creative outputs of the project.

Incubation Facilities

An Incubation Expert System/Portal Development.

Start-up support centers with incubation space, common facilities and connectivity.

Design Innovation Facility as a common incubation facility from the Department of Science and Technology.

The Design Innovation Facility shall have

Specialized software platforms in Engineering Design

Hardware platforms to support start-up requirements

Campus area Network (CAN) for connectivity

Incubation Programmes

Incubation Programmes	100 potential start-ups
Promotion of High growth start-ups	15 start-ups
Promotion of medium growth start-ups	25 start-ups

Incubation Team and Skill Development:

Training for Indian Business Incubator in Business Incubation	Managers-100 Incubation Managers
Training in core ICT Skills	50 facilitators & Entrepreneurs
Training in Quality Business Excellence Models	40 facilitators & Entrepreneurs

Documentation and Dissemination:

Documentation of the Project	3 nos.
National Workshop on Business Incubation	1 no.
Promotion of medium growth start-ups	25 start-ups

These key inputs target distinctive results in the process of Business Incubation. However their collective synergies shall aim to promote more vibrant start-up clusters. Though within the project period, 100 start-ups shall be ushered in to the Incubation Programmes, with TREC-STEP's sustained efforts it is expected that 40 of them shall become successful and out of these 10 cases shall be outstanding examples of high growth start-ups. This shall set in motion a momentum gathering, sustainable incubation process for the incubator producing more ventures every year thus creating more jobs and wealth for the region. This initiative shall change the industrial face of the region into an ICT focused entrepreneurial place.

This proposal brings together the support from Department of Science and Technology, Government of India for facilities in Design and the support of The Ministry of Small Scale Industries, Government of India and Tamilnadu Small Industries Development Corporation, for the incubator's built-up modular space, building and infrastructure along with the major contribution from InfoDev for developing ICT synergies for incubating high growth start-up clusters in Trichy region in India for creating more jobs and wealth. Initiatives such as Training, Learning Tours, and ICT enabled, metrics driven Business Incubation Web Portal shall be the backbone of the incubation process and shall be shared with other Indian Incubators supplementin capacity building of these incubators and also providing a road map and milestones for the start-ups so that the benefits shall be leveraged.

ICT is seen as the central component of the TREC-STEP's business strategy for growth and sustenance in the future and with the infoDev Project the benefits accrued shall be manifold.