IARE TBI | MSME Programme
The ‘Support for Entrepreneurial and Managerial Development of SMEs through Incubators’ Program is a component of the National Manufacturing Competitiveness Programme (NMCP) launched by the Ministry of Micro, Small & Medium Enterprises (MSME), Government of India.
Objective of the program is to promote emerging technological and knowledge based innovative ventures that seek the nurturing of ideas from professionals beyond the traditional activities of Micro, Small & Medium Enterprises (MSMEs). It aims at nurturing innovative business ideas (new and/or ingenious technology, processes, products, procedures, etc.) which could be commercialized in a year. IARE TBI is one of the approved Business Incubators under this program, though which you can apply for this scheme. Note that applications for this scheme can only be submitted through a MSME approved Business Incubators.
MSME HI / BI Scheme:
(Promoting Innovative Ideas and Sharpening Entrepreneurship Acumen - Scheme of “Support for Entrepreneurial and Managerial Development of SMEs Through Incubators”).
Institute of Aeronautical Engineering was approved by MSME as the Technology Business incubation Center / Host Institutions (HI) in the year of 2018. Under this scheme Government of India is providing opportunity to the individual innovators in developing and nurturing their new innovative ideas for the production of new innovative products which can be sent in to the market for commercialization.
The Ministry of MSME provides financial assistance of 75 % to 85 % of the project cost up to the maximum of 8.00 Lakh. This fund is routed through the Business Incubator (BIs).
Host Institutions (HI) are exploring the new innovative ideas from the Incubatee of various sectors that may be existing and prospective entrepreneurs. Even the students from the various streams are also participating in nurturing their new ideas through the Host Institutions as a part of their studies and carrier building.
TECHNOLOGY INNOVATION AND INCUBATION CENTRE (TIIC)
(Under support from Micro, Small & Medium Enterprises (MSME), New Delhi)
The Ministry of Micro, Small and Medium Enterprises has sanctioned a grant of Rs. 96.5 lakh towards plant and machinery for various innovative projects developed by the students attached to the Technology Innovation and Incubation Centre of the Institute of Aeronautical Engineering.
The funds have been sanctioned under the MSME’s support for entrepreneurial and managerial development of SMEs through ASPIRE (A Scheme for Promotion of Innovation, Entrepreneurship and Agro- Industry_ - incubator scheme.
To implement this scheme, the Ministry has identified and recognised prominent academic institutions offering higher education in engineering and technology with sound academic and infrastructure background throughout the country for setting up of incubator centres.
The MSME Ministry identified Institute of Aeronautical Engineering (IARE) for setting up an incubator centre to promote innovative ideas of engineering students, technocrats and industrialists by granting financial and technical support to 400 ideas worth each upto Rs 4.5 lakh.
Description of facilities available
15,000 sq. ft. area, 100+ workstations, High Speed Internet Connectivity, Video Conference Room with High-end Equipment integrated with Google Hangout, Skype etc. Dedicated Seminar Hall ( 150+ seats ), Board Room , Meeting / Discussion Room, Training Room, Common Reception, Indoor / Outdoor Sports and Health Center, Open Air Cafeteria / Food court, Waiting Lounge Integrated with Relax Room, Guest Room, Pick & Drop Transport Facility. Fiber Optic High Speed Internet Connectivity with Firewall and Bandwidth Management, Access to Auditorium, Library and Bank Facilities