Ramesh Pokhriyal ‘Nishank’, Union Minister for Education virtually inaugurated the Gyan Circle Ventures on October 8. Gyan Circle Ventures is a Technology Business Incubator (TBI) of Indian Institute of Information Technology, Sri City (Chittoor) in Andhra Pradesh funded by the Ministry of Electronics and IT (MeitY).
Amit Khare, Secretary, Higher Education; Ajay Prakash Sawhney, Secretary, MeitY; Satish Chandra, Special Chief Secretary HE, Government of Andhra Pradesh; Bala MS, Chairman, Board of Governors, IIIT Sri City Chittoor; Srinivasa C Raju, Chairman, Sri City; Prof. G Kannabiran, Director, IIIT Sri City Chittoor and senior officials of the Ministry were also present during the inaugural ceremony.
While addressing the occasion, the minister said that innovation is the engine that powers this progress of the nation. “We need to foster innovation and entrepreneurship to ensure that we are self-sustainable and remain as a leader, at the cutting edge of science and technology,” he added.
Further, he said that facilities like ‘Gyan Circle ventures’ have the potential to imbibe entrepreneurship in young minds and aid them to be successful innovators.
In 2020, IIIT Sri City is launching the TBI, Gyan Circle Ventures. Gyan Circle Ventures would function as a Technology Incubation and Development of Entrepreneurs (TIDE 2.0) incubation centre as approved by MeitY, told the minister.
The incubator would leverage IIIT’s entrepreneurial spirit via utilizing its intellectual capital and engage in using emerging technologies such as Artificial Intelligence (AI), Block-chain, Cyber-Physical Systems (CPS), Cyber Security, Internet of Things (IoT), Robotics, etc.