University of Technology allocates 378 crores in budget for infrastructure and innovation initiatives

THIRUVANANTHAPURAM: A budget of 378 crores has been allocated to the University of Technology, including 10 crores for starting a Campus Industrial Research Park in engineering colleges to develop entrepreneurship among students. At least 5 ventures will be created by university and industry. Budget Finance Committee Chairman Dr. P K Biju presented at the Board of Governors meeting.

Four PG study departments will be established by the University Chair to start from this year. 1.4 crore is being spent on this. 50 lakhs has been sanctioned as the first installment for setting up an International Science and Trade Exhibition Center at Vilappilsala. 1.25 crore has been earmarked for empowering the education sector. The amount will be spent on animation, visual effects, gaming, comics and extended reality. A university library will be set up at a cost of Rs 1 crore and a university IT software development center will be set up at Kinfra Park at a cost of Rs 50 lakh.

A budget of 2 crore rupees has been allocated to develop an automated question bank, while 60 lakhs will be used to establish 10 social labs. Additionally, 50 lakhs has been set aside for a career portal for students and another 2 crore rupees to ensure the excellence of affiliated colleges. 10 crore rupees each will be invested in an international hostel, a guest house and a data centre.

It has also been decided to give credit to students who start a startup and launch a product during the course. The university accepted the proposal of the industry minister who participated in the closing session of the startup boot camp organized by the university last week. The Board of Governors meeting also decided to hold this year's graduation ceremony in August.