BU opens startup incubation centre

Coimbatore: Soon, the Bharathiar University will incubate startups from across the state.
The Bharathiar School of Management and Entrepreneur Development (BSMED) inaugurated an incubation centre established under the Rashtriya Uchchatar Shiksha Abhiyan (Rusa) on Saturday.
The centre aims to nurture young startups from all districts and help to reduce failure rate, a release said. Initially, five startups in IT-enabled services, online education, aerospace, augmented reality and virtual reality will be incubated. Four of them are from Coimbatore and one from Chennai.
Of the 15 crore earmarked for entrepreneurship and career hub under Rusa, Rs 2.5 crore will be used to fund startups, said BSMED director Rupa Gunaseelan. “The fund will help us incubate startups for two years. We have also applied for setting up an Atal Incubation and Innovation Centre, using the funds of which we plan to continue incubating startups. The startups can use the resources in BU laboratories,” she said.
BU vice-chancellor P Kaliraj inaugurated the centre in the presence of registrar in-charge K Murugan. The VC also signed MoUs with the startups.