Patiala, April 24,
Thapar Institute of Engineering and Technology (TIET) has unveiled VentureLab Thapar, a state-of-the-art hub dedicated to nurturing entrepreneurship, fostering high-tech innovation, and driving startup success. Situated on the TIET campus, this four-storey, 25,000 sq. ft. facility marks a significant step in the institute’s ambition to emerge as a global leader in technological innovation and entrepreneurial growth.
“VentureLab Thapar is not just about creating entrepreneurs; it’s about building a robust ecosystem for India’s next wave of innovators. With world-class infrastructure, this hub will serve as a launchpad for visionary ideas and a catalyst for global tech ventures,” said Dr. Rajeev Ranjan Vederah, Chairman, Board of Governors, TIET.
The inauguration of VentureLab Thapar is a landmark achievement for northern India, offering startups access to mentorship, funding, cutting-edge infrastructure, and international networks. The launch event was graced by distinguished guests, including:
- Anurag Kumar, Scientist D, Innovation and IPR Division, Ministry of Electronics and IT, New Delhi
- Deepinder Dhillon, Joint Director, Startup Punjab
- Snehansh Sinha, Assistant Manager, Invest India
“VentureLab Thapar embodies our vision of empowering grassroots innovation while connecting it to global opportunities,” said Prof. Padmakumar Nair, Director, TIET. “Entrepreneurship fuels bold excellence and is the most effective route to innovation, requiring the courage to break from convention and explore new frontiers.”
Drawing inspiration from the globally acclaimed VentureLab model, pioneered by Prof. Aard Groen at the University of Twente and University of Groningen—recognized as Europe’s most effective accelerator in 2013—VentureLab Thapar is poised to link Indian startups with international markets and funding avenues.
watch……Celebrating the Academic excellence of Diploma toppers of Thapar Polytechnic College
Key Features of VentureLab Thapar
- Flexible workspaces, private offices, and hybrid learning environments
- Training programs to develop entrepreneurial skills
- Hands-on mentorship from experienced entrepreneurs and investors
- Access to national and international networking opportunities
- Strategic support through global soft-landing partnerships
The hub is expected to support over 100 early-stage startups annually through its programs. Startups will also benefit from Thapar Innovate, TIET’s integrated initiative combining research, innovation, incubation, and funding under one umbrella.
TIET’s Legacy in Entrepreneurship
TIET’s commitment to entrepreneurship dates back to 1998 with the establishment of the Science & Technology Entrepreneurs’ Park (STEP). Over the years, this legacy has grown to include:
- Institution Innovation Council (AICTE)
- Fractal Foundation for startup investments
- Mandatory Innovation and Entrepreneurship curriculum for UG/PG students
- Thapar Venture Club for student-driven initiatives
Recent achievements include:
- Over Rs. 3.19 crore disbursed through TIDE 2.0 and Scale-up Grants
- Rs. 1.2 crore invested via the Startup India Seed Fund
- A faculty exchange and training program with the University of Groningen, establishing India’s first integrated 4-year entrepreneurship curriculum
Notable startups nurtured by TIET include Minus Zero, Labeller, Foxo Health, Eternz, KriyaFit, Nirmaan, Wendor, and Sugarstrings.AI, among others.
Dedicated Startup Competency Program
In 2024, TIET introduced an intensive entrepreneurial competency development program, training startup teams for roles such as CEO, CFO, CTO, and COO. The program offers mentorship, coaching, and access to markets and capital. Every quarter, 25 teams participate, culminating in business panel reviews for practical feedback.
About Thapar Institute of Engineering and Technology
Founded in 1956, TIET is one of India’s premier institutions, offering a diverse range of undergraduate, postgraduate, and doctoral programs. Renowned for academic excellence, research contributions, and strong industry partnerships, TIET continues to lead in fostering innovation and entrepreneurship.
