AICTE to give 1 crore INR seed capital for research parks

Oct 17, 2012 by

Source: DNA India via PwC – EdLive

The All India Council for Technical Education (AICTE) will fund institutes with 1 crore INR to set up research parks, in order to encourage research among students. An industry partner will also be tasked with setting up the research park, along with providing funds to the tune of 1 crore INR. The research activities to be carried out in the park will also include studies needed for the industry.

“This will be a perfect give-and-take deal. While the industry will participate in financial assistance, the institutes will conduct research on the basis of industry needs. Researchers will also get hands-on experience with real-time industry research activities,” said SS Mantha, Chairman, AICTE. The research park will be set up on the institute premises itself, which should make available at least a 3,000-square-feet area for it.

“We aim to open such research parks in at least one state each. However, more such parks would be welcome to provide ample opportunities to research scholars in India,” added Mantha.

Besides this, the AICTE is also going to offer other schemes to encourage research work. The top 100 research students will be placed at the Council of Scientific and Industrial Research (CSIR) and Defence Research and Development Organisation (DRDO) laboratories. The scholars will be shortlisted through a competitive model of testing and the AICTE will give 15,000 INR per month to each student for three years.