The technology institution of Delhi, India has aimed to help the establishment of knowledge-based businesses and startups. Therefore, a program has been designed that allows PhD candidates write their dissertations in the form of establishment of a startup company.

According to the public relations and information center of the Vice-Presidency for science and technology affairs, quoted by the knowledge-based culture and technology development headquarter, the technology institution of Delhi, India has provided the opportunity of using venture capitals in a separated growth center for PhD candidates that are eager to create business (in case of having approved projects). Without a doubt, this model will act as a directing engine for knowledge-based business ecosystem in India, allowing researchers to use venture capitals to establish their business.

In addition, PhD candidates who were able to establish knowledge-based businesses will receive a monthly income with the goal of helping the establishment of their business. In addition, these individuals will have “primary asset”, “free coaching services”, “accommodations” and “access to laboratories of Delhi technology institution”.

In the report presented by the knowledge-based economy and technology development headquarter, according to Dr. Ramgopal, manager of Delhi technology institution, “this project is a proper platform and infrastructure for entrance and controlling of new technologies, such as blockchain and artificial intelligence by newly developed countries. In this regard, the main goal is turning PhD dissertations of creative students into knowledge-based businesses.”

Meanwhile, two other growth centers are being established in Sonapat and Haryana with the goal of providing financial and counseling services to about 50 new companies on a yearly basis.