Technology Business Incubator (TBI) Workshop concluded at PEC
A two-day interactive Technology Business Incubator (TBI) workshop was concluded successfully at PEC University of Technology which was jointly organized by the British Deputy High Commission, Chandigarh and PEC (under TEQIP) from 28th November to 29th November 2016 for exchanging best practices between UK & India. It was coordinated by Ms. Madhuchhanda Mishra, Prosperity & Knowledge Economy Adviser, British Deputy High Commission Chandigarh, Dr. Anju Singla and Mr. Sudhendu Bali. The aim of the workshop was to share the best practices from established TBI managers, projects, ecosystems, real life approaches to challenges from the UK and Indian stakeholders.
Mr. David Lelliott OBE, British Deputy High Commissioner Chandigarh graced the occasion as the Chief Guest for the inauguration ceremony. Prof. Manoj K. Arora, Director, PEC University of Technology welcomed all the dignitaries along with the delegates from various institutes and industries in and around the city like IITs, INST, SASE, CSIR, Chitkara.
Mr. Martin Garratt, Chief Executive of Cambridge Cleantech and Mr. Karthik Durgaprasad, Senior International Development Ofiicer, Basildon Borough Council were the speakers for the sessions. Mr. Tamil Chandru, Science & Innovation Adviser, British High Commission introduced the speakers.
Mr. David Lelliott mentioned UK’s efforts to form a strong base for encouraging early- stage entrepreneurial activity with wide spread access to business support and mentoring programmes; the provision of entrepreneurial awareness schemes throughout the education sector; and good access to office space, and IT and broadband infrastructure.
Mr. Martin Garratt emphasized the importance of TBI and highlighted the fundamentals and best management practices for setting up a TBI. He quoted, “TBI is not just a building but the package of services which increases the chance of business survival and growth. Its business models include self-sustainable revenue streams, tenant profile and tenancy contracts.”
Mr. Karthik Durgaprasad shared his views on ‘Business Support and Strategic Partnerships’. He mentioned some of the business support services which act as glue to bind the incubator. He explained the jargons like hatchery, hot-house, cam-jelly, ignite, first Tuesday in the context of TBI. Further he stressed upon the international expansion of growth potential companies which have special focus on Smart City opportunities in India.
Various interactive sessions were held throughout the workshop elaborating the importance of working in a partnership, significance of space management, how to make an effective business plan: its Governance, registration & compliance and keys to success for the TBIs.
The participants were given an exercise on creating a short and long term “Sustainability Plan” which was presented and discussed at length in the next session. SWOT analysis of individual TBIs was done by the participants and the responses were shared.
Sh. Anurag Aggarwal, Home Secretary graced the valedictory function as the Chief Guest with his benign presence and emphasized that the City Beautiful Chandigarh deserves to be a Smart City. The Guest of Honour B. Purushartha, Commissioner discussed ideas for the development of an ecosystem for the entrepreneurs in Chandigarh. The closing remarks were given by David Lelliott.
All in all, the workshop ended on a high with the guidance on developing and growing a sustainable TBI which would create prosperity for all and positioned TBIs as the catalyst of the Indian start-up scene.
Technology Business Incubator (TBI) workshop was jointly organized by the British Deputy High Commission, Chandigarh and PEC
For the first time since its establishment in 1921, PEC celebrated its Foundation Day on 9th November, 2016.
PEC signed an MoU with TATA Power Delhi Distribution Limited to set up a Center of Chandigarh Smart Grid Project