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Tuesday, Nov 30, 2021
Outlook.com
Innovation Startups

Wombs For ­Profitable Ideas

Incubators attached to top institutions are giving innovation an entrepreneurial spin

Wombs For ­Profitable Ideas
Illustrations by Sajith Kumar
Wombs For ­Profitable Ideas
outlookindia.com
2017-05-27T11:28:21+05:30

Ambar Srivastava is excited about the growing demand for his innovation—TrueHb Hemometer, a hand-held haemoglobin meter for which he has filed a patent in India and the US. Founder and managing director of Wrigs Nanosystems Pvt Ltd, Srivastava, 32, worked towards becoming an entrepreneur while studying biochemical engineering and biotechnology under a five-year integrated MTech course at IIT Delhi. His entrepreneurial journey took firm shape in IIT Delhi’s Foundation for Innovation and Technology Transfer (FITT) division to which he was sel­ected after a competitive process.

Describing the two years at FITT inc­ubator, Srivastava says the experience was like “being in a cocoon” as it provi­ded a world-class environment with no power cuts, no security concerns or any other hassle from authorities. “We were in the campus and near the laboratory with access to talent and expertise of faculty members,” he says. Looking to expand operations to more countries overseas, Srivastava is among a growing number of entrepreneurs who are benefiting from the largely government-led push to innovation startups.

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