The Prime Minister Narendra Modi on Tuesday, February 20, virtually inaugurated the IIT Bombay Research Park. The Research Park, constructed at a cost of ₹225 crores, encompasses a G+14 floor building, spanning 5 lakh square feet, aimed at fostering collaboration between IIT Bombay researchers and industry partners.
The project received financial backing from various sources, including a grant of ₹100 crore from the Ministry of Education, ₹67 crore from a loan, and ₹58 crore from internal revenue generation at IIT Bombay.
On the same day, he also laid the foundation stone for various academic and residential buildings at the institute’s Powai campus.
It includes efficiency apartments, Hostel 04, academic science blocks for chemistry and chemical engineering, Bio-School, Central Animal Facility, Academic Blocks 1 and 2, with the total project cost exceeding ₹1120 crore.
The Research Park, strategically located at the north end of the IITB campus, is equipped with centralised HVAC, versatile design features, conference rooms, an auditorium, a creche, and a food court. It aims to facilitate collaboration, Research and Development initiatives, and technology transfer between IIT Bombay researchers and industry partners.
The inauguration ceremony also included the felicitation of key contributors involved in the execution of the Research Park building. The IIT Bombay Research Park is poised to bridge the gap between academia and industry.
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