T-TBI got this status after successfully seeing 123 technology companies incubated with a success rate of over 95 per cent, according to a Technopark release here.

Technopark TBI aims to identify potential entrepreneurs with innovative ideas, nurture them through different phases of growth, until the business takes off to a maturity level, where it becomes a financially sustainable venture.

The new recognition will now enable it to design and submit projects reports in areas of entrepreneurship education, entrepreneurship and skill development.

Technopark TBI chief finance officer and programme coordinator K.C.C. Nair said that funds have been a major problem when it came to incubating and promoting young talents.

“We have a programme wherein we go to college campuses to identify young talent and now with this new recognition, we will have the necessary funds which will come from TISS when we submit project proposals to promote young talents in our state, especially from young engineering students,” he said.

The empanelment will be valid till March 31, 2015 and will be renewed on satisfactory performance thereafter.

It comes at a time when there are 245 IT firms of varying shape and size which employ more than 35,000 professionals in the Technopark campus.