B.V. Bhoomaraddi College of Engineering and Technology, Hubli, established in 1947, has been a key contributor to the business growth and education in Karnataka and beyond. Realizing that the time has come to reverse the brain drain by building a local entrepreneurial ecosystem - the only panacea for the regional socio-economic woes - a Center for Technology Innovation and Entrepreneurship (CTIE) has been setup. The vision of the CTIE is to set up a platform to,
- Provide world class incubation facilities for entrepreneurs and start-ups.
- Work with the local industries towards setting up a vibrant synergy.
- Endeavor to develop and sustain a business ecosystem, wherein, engineering graduates aspire to be entrepreneurs.
- Help grow multi-disciplinary and inter-departmental programs, thus enabling growth of faculty.
- Enable students to educate themselves towards being entrepreneurs.
- Help develop the regional economy.
CTIE has setup following performance goals to measure its impact:
Since its formal inception in Feb 2012, CTIE has 34 technology companies and has created over 230 jobs in the region. CTIE intends to,
- Establish 70 startups on BVB campus by December 2017.
- Create 700 jobs in the region by December 2017.
- Build a strong network of business mentors and coaches to help sustain the growth.
- Start / attract venture capitals to invest in our start-ups.
Center for Technology Innovation and Entrepreneurship has identified following thrust areas based on its in-house expertise and accessibility to technology and relevance. Eventually, CTIE would like to setup Center of Excellence in these areas to enable technology transfer.
- Bio-technology research and applications
- Renewable energy
- Industry Automation
- Import Substitution