Industry-Institute Interaction is an idea toyed many times in the past, but except in case of a handful institution (to be precise, persons in these institution) and in a handful areas, such interaction have never taken off in a big way. The IITs and other islands of excellence like PSG Tech, Coimbatore (which runs an industry in the campus) have proved it is possible, but in Kerala we are definitely devoid of such towering role models. Today with the emergence of IP as a major fuel to the turbine of global economy, new underpinnings are to be considered. This proposal is a unique one aiming to create a new model in the state in this regard.

IIC aims to provide students in the various Departments/Institutions of the University an attractive industry incubation facility in the Campus to promote entrepreneurship among the student community. This will ensure that the University will have a live bond with the business ventures which incubate out of the Campus, which will have a positive feedback effect on future students in terms of placement, industrial training etc. The University will thus become an active catalyst in economic development of the state by partnering with student-entrepreneurial ventures.
• IICs proposed to be set up with focus on Knowledge industries.
• Infrastrucural facilities for small and medium-scale knowledge enterprises to be
   provided on a subsidized basis to student entrepreneurs.
• The subsidy in rental shall be defrayed by the business enterprises
   if they make a working profit in the 3rd year.
• Brainstorming with experts and project report preparation to be offered
   to students free of cost.
• Business, Legal, Financial and Managerial advice to be provided
   to student entrepreneurs by the IIC.
• IIC business units to offer project and training facilities for students
   of the University at nominal costs.
• IIC business units to enter into an agreement with the University
   for maintaining strong ties, if their turn-over crosses 1 Crore in future.
• Financial assistance of Rs 61 lakhs sought as seed-funds.

“As I see it from my perch in India’s science & technology leadership, if India plays its cards right, it can become by 2020 the world’s number-one knowledge production centre.”
- R.A. Mashelkar in SCIENCE, 4 February 200