MSME Ministry to support SSN College's incubation centre through grant of Rs 66 lakhs for 3 yrs

Chennai, Sep 5 (KNN) With the view to promote entrepreneurship and innovation, SSN College of Engineering announced setting up of an incubation centre and an innovation centre in its city based campus which is being supported by the Union Ministry of Micro, Small and Medium Enterprises (MSME).

The SSN Incubation Centre and SSN Innovation Centre will be mentored by Prof VG Idichandy, former Deputy Director, IIT Madras.

Shiv Nadar, founder and chairman of Shiv Nadar Foundation was present for the inauguration of the centres.

The SSN Incubation Centre is part of 100 such centres and one of the first few centres in a private institution to be supported by the MSME Ministry.

The M/o MSME will support the incubation centre through a grant of Rs. 66 lakhs (for a maximum of 10 incubatees) for a period of 36 months by which time it expects investors, venture capitalists or bankers to step forward with additional funding.

The SSN Incubation Centre will focus on innovations by technology and engineering start-ups in the primary areas of 'energy' and 'materials'. In the energy domain, the focus is primarily on solar photovoltaics.

However, the Centre may also look at incubating ventures in other areas of research and innovation. The SSN Incubation centre will support and develop budding entrepreneurs in the state of Tamil Nadu and the research community from SSN College of Engineering or other engineering institutes.