Do you have a revolutionary insight that holds the potential to bring about a positive change in society and consider the prospect of transforming that idea into a tangible commercial product? If so, the Business Innovation and Incubation Centre (BIIC) of Mahatma Gandhi University is your beacon.

In an era marked by rapid technological advancements and changing business landscape, nurturing innovative ideas and fostering an entrepreneurial spirit are crucial for the growth of society and economy, in particular.  Established in 2016 ,BIIC has emerged as a cornerstone in this journey, propelling aspiring entrepreneurs from the status of dreamers to creators, which inspires them to be successful business owners. BIIC has literally become a hub of transformative ideas and groundbreaking ventures.

An Ecosystem of Innovation

The journey of BIIC began with a seed capital of Rs. 1 crore from the Government of Kerala, making it the pioneering initiative of the state to cultivate a culture of innovation and entrepreneurship among students. Collaborating closely with Confederation of Indian Industry (CII), BIIC has harnessed industrial exposure to complement its academic offerings. The results have been remarkable, with BIIC emerging as a gentle catalyst, facilitating the research focus of academic contributions into commercial ventures and the creation of new entrepreneurs.

Services that catalyse success

BIIC stands as a steadfast pillar of support for startups, providing a spectrum of services and resources essential for their growth and success. These services include:

Workspace: BIIC offers startups physical office space, meeting facilities and essential infrastructure, providing a conducive environment for innovation to flourish.

Business development support: With mentorship programmes, networking opportunities and access to industry experts, BIIC aids startups in aspects like registration, collaborations, business strategy and connections.

Funding and investment support: BIIC assists startups in securing funding by connecting them with investors and organizing pitching events. It also provides guidance on preparing investment proposals and business plans.

Training and workshops: BIIC conducts training sessions and workshops that enhance entrepreneurial skills. These sessions encompass areas such as business planning, marketing, financial management and legal compliance.

Access to expertise: Through its network of mentors, advisors and industry experts, BIIC offers startups specialized knowledge and guidance in areas like technology, marketing and finance.

Legal and administrative support: BIIC facilitates tasks such as company registration, intellectual property protection and compliance with regulations.

Research and development: BIIC’s knowledge cluster fosters regional and state-level innovation by connecting startups with cutting-edge R&D facilities and expertise from technical institutions and research organizations.

Networking opportunities: BIIC hosts events and conferences where startups can interact with fellow entrepreneurs, industry professionals, clients and potential investors.

Market validation and testing: BIIC supports startups in validating their ideas through market research and focus groups, collaborating with Kerala Startup Mission and industry associations.

Empowering research through RINP

The Research Incubation Programme (RINP) is a significant initiative funded by Kerala Startup Mission and implemented at BIIC. This programme empowers researchers, scientists and faculty members to transform their scientific innovations into market-ready products. With a focus on commercializing research findings, RINP nurtures a supportive environment where innovative ideas can thrive and eventually contribute to the startup ecosystem.

Expanding horizons: New initiatives of BIIC

Dr. N. Radhakrishnan International Centre for Medical Innovation (NRICMI): Collaborating with Dr. N. Radhakrishnan Foundation, BIIC has established NRICMI to foster medical innovation, develop new technologies, treatments, drugs, and therapies. This initiative bridges the gap between research and clinical applications, elevating patient care and healthcare delivery.

Industry Academia Interface Centre (IAIC): A pioneering endeavour, IAIC connects industry, academia and government, aiming to generate product and technology developments for societal benefit and economic growth. This triple helix model fosters an innovation-friendly environment, nurturing collaboration with different realms for holistic progress.

Encouraging diversity and society’s demands

BIIC is not confined by conventional boundaries. It has extended its reach to support the differently-abled through a virtual incubator in collaboration with ‘Angels Home.’ Entrepreneurs from all walks of life, including women entrepreneurs trained by MSSRF, have sought the guidance of BIIC and resources to bring their diverse products to fruition.

A glimpse into the future

As the world becomes increasingly interconnected, BIIC’s vision extends beyond supporting startups to fostering a booming ecosystem where knowledge, practice and regulation intersect. This triple helix model, spearheaded by M G University, aspires to transform the landscape of knowledge-based economic development. With its consistent dedication, BIIC is poised to shape the future of innovation, entrepreneurship and societal advancement, making a lasting impact on the global arena.