IISc-based FSID to undertake 1,000 industry projects, build a portfolio of 300 deep-tech start-ups by 2030

The Foundation for Science, Innovation and Development (FSID), a single-window interface to the deep science and deep-tech capabilities of the Indian Institute of Science (IISc), said on Monday that it would undertake 1,000 industry projects and build a portfolio of 300 deep-tech start-ups by 2030.

Through an open, domain-agnostic approach to incubation and stronger industry partnerships, the FSID would position itself as a leading platform connecting science, industry and entrepreneurship, with an impact that extends well beyond India, it stated in an event held on the IISc campus here.

Speaking at the event, the newly appointed CEO of FSID, Omprakash Subbarao, said, “As the world of research, innovation and technology translation evolved rapidly, so were the expectations of industry, government and other external stakeholders.”

“To enable the FSID to respond to these changing requirements with greater agility, professionalism and scale, we are strengthening its governance and leadership structure. For the first time, we are having an industry leader as the CEO to drive this transformation,” Mr. Subbarao said.

With a vision of ‘Built on Science, Scaled for the World,’ the FSID was built on two strong pillars: Innovation and Incubation, he said. “Our ambition is to deepen engagement with multinational corporations, indian corporates and Micro, Small, and Medium Enterprises, while creating stronger pathways for science and research to translate into real-world impact,” Mr. Subbarao added.

The FSID unveiled a new governance model and the move marked a new phase in the FSID’s journey to build a self-sustaining Section 8 company. To ensure a strong and effective linkage with the IISc, Suryasarthy Bose would function as professor in-charge and provide institutional oversight and serve as the principal interface between the FSID and the IISc.