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10/10/22 06:49 AM IST

India’s first Green Technology incubation facility opened at NIT Srinagar

In News 
  • At the National Institute of Technology (NIT) Srinagar, a technology company incubator centred on green technology (Green Technology incubation facility) called the “Greenovator Incubation Foundation” will soon open.
Green Incubation Centre 
  • All of the money required to establish the Green Technology incubation facility centre will be provided by the Department of Science and Technology. Startups will have access to the co-working space, which includes conference spaces, a prototype lab, and other amenities.
  • In addition to office space, financial support in the form of seed money would be provided on an individual basis with equity in accordance with DST criteria.
  • Saad Parvez, the center’s CEO, described the forthcoming centre as the first of its type in the area and claimed that it would foster ideas that would lead to entrepreneurship and self-employment.
  • Saad Parvez continued by saying that this will be India’s first green technology incubation centre. Aside from the softer aspects of GreenTech that fit with the theme of the valley, the proposed incubator would address some of the issues that have the potential to alter the socioeconomic standing of the valley and produce innovations that could be applied to other markets, increasing the likelihood of interstate trade and commerce.
Source- PIB 

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