New Delhi, May 8 (KNN) An initiative which would help towards incubating more start-ups and promote industry collaboration, Indian Institute of Technology Delhi (IIT-D) is setting up three Research Parks in Delhi and Haryana.

The objective of the parks is to facilitate design and development of advanced technology, to establish avenues of engagement with industry, transfer knowledge and create value.

The whole agenda to set up these Research Parks is to bring industry and budding entrepreneurs onto a single platform to facilitate innovation and research.

This collaboration of research institutes and industry will give boost to start-ups and promote new ideas and technology.

Research parks will come up on IIT Delhi Campus and in Sonepat and Jhajjar in Haryana and are to be funded by college and managed by Foundation for innovation, and Technology Transfer (FIIT).

The research parks will have research & development labs, set up by corporates jointly with IIT Delhi, incubators, Impact Lab for Path, a global health innovation hub, high-end central research facility and Centre of Excellence in Smart manufacturing.

In addition, the research parks will have training centres and convention facilities to promote innovation and research and development.

The first phase of Sonepat Research Park has been completed and can incubate around 15 start-ups which has residential facility too for the start-ups with a fee.

So, far 4 start-ups have been incubated and around Rs 175 crore has been invested during 1st phase.

The second phase is in the planning and process and will accommodate near 100 start-ups.

The Research Park that will come up in IIT Delhi is awaiting environmental clearance. Once the approval is obtained the park will be operation in 18-24 months and can incubate 100 start-ups.

The proposed third research park at Jhajjar is likely to take time due to delay in land deals. (KNN/YV)