The IITM Bioincubator works to foster Indian biotech innovation and entrepreneurship, and helps startups develop globally competitive products and attain commercialisation. Established in 2014 at the IITM Research Park, with the support of Biotechnology Industry Research Assistance Council (BIRAC), Govt of India, the IITM Bioincubator promotes the collaboration between the incubated companies, Corporate R&D, the faculty as well as students of IIT Madras.
It offers lab and office space, equipment, centralised utilities for process and product development, and technical advice from the expertise of the Institute's faculty and researchers to entrepreneurs develop and launch their products. Also available are support services like accounts and tax, company secretary-ship, legal, HR, audit, IP, access to funds, investors, mentors, advisers and consultants, training programmes, etc., in collaboration with the IIT Madras Incubation Cell.