Science and Technology Start-Up Park (STSP)
A programme by Institute of Aeronautical Engineering
An on-campus start-up park with a focus on smart manufacturing and unmanned aerial vehicles, offering leased office space, mentors, business support and seed funding.
At a glance
| Best for | Start-ups in innovation-led product or service businesses, including students and faculty whose ideas rest on IPR they own or co-own |
|---|---|
| Stage | Idea – MVP |
| Duration | Up to three years |
| Format | In person |
| Run with | MSME, CITD, NRDC, DST |
About Science and Technology Start-Up Park (STSP)
The STSP provides office space for start-ups within the institute premises, with business advice, legal and regulatory guidance, access to mentors and seed funding at a lower rate of interest.
What you get
- Office space and built-up area for start-ups on a lease basis
- Business advice, financial counselling, help with business management and accounting, and legal and regulatory guidance
- Access to mentors from government bodies, MSMEs, EDIs, alumni entrepreneurs and experts
- Technical services including R&D, product development, calibration and testing, and quality assurance
- Seed funding with a lower rate of interest, and help with government subsidies and incentives where available
Who can apply
- Start-ups in innovation-related firms that can market products or services within three years
- Businesses in their first two years of operation
- Founders who can pay incubator rent while the business starts earning
How selection works: Candidates complete an e-application, which the Chief Executive Officer and a reviewer with business experience audit. Shortlisted candidates present their business case to a board of three or four people, including industry specialists and the CEO, who decides on admission.
How to apply: Submit an e-application. The overall application procedure should be completed within five days.
Where to apply
Other Institute of Aeronautical Engineering programmes
- IARE TBI (Technology Business Incubator, MSME ASPIRE scheme)An MSME-supported business incubator on campus that helps engineering and technology entrepreneurs turn ideas into prototypes and products.
- Technology Innovation and Incubation Centre (TIIC)A campus incubator recognised by the Ministry of MSME, with design and fabrication support to take student, faculty and innovator ideas to prototypes and products.
- Students Innovative Project Proposal (SIPP) schemeAn institute-funded scheme for students with innovative ideas, covering prototyping and commercialisation and paying a monthly fellowship to student innovators.
- Academic credit and project options for student start-upsStudents can count start-up or prototype work toward academic credit, a mini project, a seminar or a major project, with committee approval.