COIMBATORE: The country's first business incubator for nanotechnology was inaugurated at the PSG College of Technology in Coimbatore on Monday. Adviser and head of the National Science and Technology Entrepreneurship Development Board (NSTEDB) H K Mittal inaugurated the centre.

"About 30% business ideas come from niche fields like biotechnology and nanotechnology. So, it is good to see a dedicated incubator for nanotechnology being set up in an educational institute, that too in an industrial city like Coimbatore," said Mittal.

PSG is also the only institution to have five technology business incubators in the country. "IIT-Bombay has three incubators," he said.

Set up with an investment of Rs 15 crore, 50% of the fund was provided by the department of science and technology, Government of India. "We are looking at a total of 33 incubatees in the next five years. And, we aim at developing 13 prototypes in four years," said the director of PSG Institute for Advanced Studies P Radhakrishnan. To start with, PSG is looking at roping in 10 incubatees, said the director of PSG- Science and Technology Entrepreneurial Park (PSG-STEP).

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PSG gets country's first nanotechnology business incubator - Times of India