Indian Institute of Technology (IIT) Hyderabad has set a target of generating Rs 200 crore per year for funding institute research by 2024. This is four times the current level of Rs 50 crore a year research funding, the institute said in a press release.
BS Murty, who took over as the director of IIT Hyderabad in August, unveiled ‘IIT Hyderabad’s Vision for 2024’ on Thursday.
Other major highlights of the roadmap to Vision 2024 include, enabling 40 companies at IIT Hyderabad Research Park from the current five, increasing the startups incubated from 20 currently to more than 50, doubling faculty strength of the institute to 400, and increasing the student strength to 5,000 from the current level of 2,850.
“Since August 2019, IIT Hyderabad has entered into four MoUs with Japanese Institutes and entered into five collaborations with Indian research centers, private companies and the government of Telangana, said Murty. “Nearly 30 assistant professors have been recruited in the last three months alone. We are also keen on bringing in more overseas students and faculty to IIT Hyderabad,” he added.
The institute is also setting up a research park and an incubation cell spanning 1.5 lakh square feet each. It is introducing an MTech. in Healthcare Entrepreneurship. Further, the institute also plans to launch industry-supported M.Tech. programmes in sectors such as ewaste management, cyber security and advanced manufacturing.
The Institute is also focused on strengthening Industry connections through initiatives such as Industry projects for MTech/PhD students, semester-long BTech internship (sixth semester) and mandatory industry lectures.
IIT Hyderabad, which is one of the eight new Indian Institutes of Technology established by the government of India in 2008, will also be launching a new department called the ‘Department of Management and Entrepreneurship,’ which will focus on encouraging students to become ‘Job Generators’ through entrepreneurial activities.
The institute is also strengthening other connections including those with alumni through ‘Alumni Meet’ and alumni awards, distinguished and extramural lectures, increasing the visiting faculty and international workshops. The institute conducted an E-Summit this month to enthuse the students to take up entrepreneurship.