In a move to foster science and technology-based entrepreneurship among the youth in eastern and northeastern India, a formal inauguration of an incubation centre was held at the IISER Kolkata campus in Mohanpur, Nadia, on Tuesday, coinciding with the institute's 12th Convocation ceremony.

The centre, titled Research Innovation and Scientific Entrepreneurship (RISE) Foundation IISER, will function under the aegis of IISER Kolkata as its chief patron.

Positioned as a nodal hub, the RISE Foundation aims to generate new job opportunities and boost the regional economy through deep-tech innovation and enterprise. Though formally launched this week, the RISE
Foundation began functioning informally in October 2020, marking a significant milestone in promoting innovation-driven growth across the region.

Funded by the department of science and technology's national science & technology entrepreneurship development board (DST-NSTEDB), RISE Foundation IISER operates as a technology business incubator (TBI) dedicated to nurturing startups and promoting innovation across various socio-economic segments. The centre was inaugurated by Abhay Karandikar, Secretary, Department of Science and Technology, Government of India.

"The Foundation supports technology and business development in key sectors including affordable healthcare, AI/ML solutions, agriculture and allied fields, smart materials, renewable energy, sustainability, and earth and climate sciences. Its mission is to build a robust science-led innovation ecosystem, with a vision to serve as a gateway for science translation and entrepreneurship in the region," stated a communication issued by IISER Kolkata.

Prior to its formal launch, RISE had already initiated a series of workshops and interactions between academia and industry to raise awareness on the importance of entrepreneurship and applied research.

“In real terms, the incubation centre will act as a transmission unit for interdisciplinary research aimed at human benefit. We intend to leverage local resources and grassroots innovation, while exploring market opportunities to encourage entrepreneurship among the younger generation,” said Prof. Ayan Banerjee of the department of physical sciences at IISER Kolkata and one of the directors of RISE.