National Institute of Technology (NIT) Srinagar on Tuesday stated that it has registered, “Greenovator Incubation Foundation,” as a section-8 company to further promote innovations, incubation, and entrepreneurship and start-up ecosystems in the region.
The Institute has established Greenovator Incubation Foundation as a full-fledged innovations and technology transfer enterprise. This would also be India’s first Green Technologies Incubation Centre and would offer infrastructure, industry networking, as well as mentorship to the prospective incubatee.
The mission of the Greenovator would be to offer linkages and act as an effective interface with the Industry to foster, promote and sustain commercialization of Science and Technology in the Institute for mutual benefits. Thus aligning it with the main object of a Section 8 Company, that is to promote research, social welfare, innovations, commerce, art, science, sports, education, and the protection of the environment.
NIT Srinagar further stated that the Company would aim to support the State and Central departments and agencies in solving multiple problems like conservation of water bodies, air pollution, and other such challenges faced by the citizens of the region. The Company shall, initially, strive to achieve its requisite funding from agencies such as DST, CSIR, NSTMIS, SERB, donations, alumni funding etc.
The Company, Greenovator Incubation Foundation, presently has three directors on its board, namely Professor Rakesh Sehgal (Director NIT Srinagar), Professor M.F Wani (Dean Faculty welfare) and Prof. G.A Harmain (Dean R&C). Dr. Saad Parvez shall act as the CEO of the company.