New Delhi: The Salem-based Sona Incubation Foundation (SIF) is set to focus on nurturing startups focused on wearable and assistive technologies, the institution said on Wednesday.
SIF is part of the Department of Science and Technology (DST) funded Inclusive-Technology Business Incubator (i-TBI) initiative.
Located inside the sprawling Sona College of Technology campus, the SIF will offer “mentoring and functional support, investor connect as also co-working space with infrastructure for prototyping, FAB lab with PCB printing facility and semiconductor devices”.
The facilities are part of a budget of about Rs 5 crore by the Union Department of Science and Technology for three years, of which the Sona College of Technology will invest about 20 per cent as the host institution.
“The incubates at the Sona Incubation Foundation will be able to draw upon the outcomes of the 36 research and development labs of the Sona College of Technology that in the past were awarded many R&D projects by DST,” said Sathya Murthy V, Head, Sona Incubation Foundation, in a statement.
The funding also provides for a grant of Rs 1.5 crore for startups over three years, the institution said.
Further, within wearable technologies, the i-TBI aims to incubate innovative startups dealing with sensor-based fabrics for monitoring and communication and ‘assistive technologies’ to aid individuals with disabilities.
The SIF noted that it had identified companies in health tech, edtech, SaaS and industry automation for incubation in phase 1.
–IANS