Business Incubation Center (BIC) at the Institute of Space Technology (IST) is an initiative to provide a supportive environment to the entrepreneur to nurture and commercialize their innovative ideas by providing adequate resources and services. Ultimate goal of the initiative is to enable the incubatees to become a successful and financially viable enterprise after graduating from the IST’s BIC. These graduated entrepreneurs will have to contribute to the socio-economic development of the country through commercialization of technologies and innovative ideas and to bring industry closer to IST for R&D and commercialization of research conducted at IST. BIC will provide office space, utility services, access to lab & equipment, technical/legal/business consultancy, prototype development fund and facilitation in access to venture capital firms. BIC at IST will work as Not for Profit entity.