IKP Knowledge Park launches new innovation hub

The K-Tech Innovation Hub (K-TI Hub), the first of five innovation hubs planned by IASP member IKP Knowledge Park, India, was recently inaugurated by the Karnataka regional government Minister for IT KJ George.

The K-Tech Innovation Hub will nurture the local innovation ecosystem, providing incubation for startups, instrumentation, prototyping facilities, business set-up support and connections all under one roof. It brings infrastructure similar to the MIT Fab Lab to the city of Belagavi, helping the city a step closer to its goal of becoming a Smart City.

Deepanwita Chattopadhyay, Chairman and CEO of IKP Knowledge Park, said that the hub would focus on engineering, bio-engineering, prototyping and other sectors, depending on the needs of SMEs.

“We can accommodate up to 70 start-ups. We provide mentoring, funding, infrastructure, technical support and other facilities. Entrepreneurs can walk in with an idea and walk out with a product,” she said.

Experienced mentors will evaluate idea for market potential. Then the necessary technical environment will be created to help turn the idea into a design and a product, with handholding for new entrepreneurs at every stage. IKP Knowledge Park has engaged local engineering colleges, who will encourage students to explore the possibilities of tech entrepreneurship. Hackathons and tech exhibitions for engineering students are also in the pipeline.

All five industry hubs identified across the Karnataka region will be run as a network linked to IKP’s Hardware Product Incubator. The choice of location will leverage the existing manufacturing clusters and the local talent from universities and industry. The intent is to engage with all the key stakeholders in the local ecosystem to make sure the facilities are sustainable.

The five K-TI Hubs will encourage innovation, stimulate entrepreneurship, create technology-based start-ups, catalyze success, provide employment and opportunities for re-skilling and fuel economic growth.