Centre for Innovation Business Incubation and Entrepreneurship was established in the year 2015 with an objective to inculcate innovation driven entrepreneurship among engineering students. Once the students enter into their second year, a questionnaire is administered to discover the career aspirations of the students. This enables CIBIE to identify the students with the interest to become an employer rather than an employee.
CIBIE at regular interval brings successful entrepreneurs to share their experience with the identified students of 2nd, 3rd and Final year to create an awareness. Conduct Idea Pitching Contest among students to come out with innovation based Start-up Ideas that solves an important problem. Students with best ideas are mentored and encouraged to establish a team to transform their ideas to prototype. On successful completion of prototype they become an incubatee at CIBIE.
CIBIE offers common facility to the incubatees such as; Work Space, Conference Room, IT infrastructure and power. The incubatees are also mentored to refine their ideas through validation. The abstract of their ideas are shared with Entrepreneurship Development Forums such as TNSI, Forge Accelerator, Startup Payanam. This gives the students an opportunity to attend 2-3 day workshop on Idea Pitching and Bootcamp and finetune their skills to become a thorough professional.
The incubatees nurtured currently are: Mash Technology, Seyonn Digitals, Chef Lab, Ibevy Forte, and E. C. Retail. Apart from the above CIBIE has also mentored two students to establish a restaurant Aalayam and a snack bar The Chat Affair inside the campus. The ecosystem created by CIBIE is also paving way for students in the campus to join the Start-up as interns, which kindles their hidden entrepreneurial passion.