A ₹ 100-crore research park, to be developed by Kongu Vellalar Institute of Technology Trust on the premises of Kongu Engineering College at Perundurai, has been ideated as a 14-storey structure housing satellite laboratories and research facilities of companies from various domains.

The foundation for the mega private research park, described by the promoters as Arivukoodam (knowledge hub), was laid by Vice-President C.P. Radhakrishnan earlier this year.

A New Delhi-based architectural firm has been roped in for designing the structure, which will have 20,000 sq. ft of built up area to foster innovation for developing new products, said C. Devarajan, president of the trust, during an interaction at The Hindu office in Coimbatore on Wednesday (November 11).

URC Construction will develop the park, which will be occupied by companies from the western districts and other places.

The existing Technology Business Incubator (TBI) developed by Kongu Engineering College (with support from Department of Science and Technology, and National Science and Technology Entrepreneurship Development Board (NSTEDB), has so far incubated 113 startups, Mr. Devarajan said, adding that the research park would focus on developing chips and other tech products ranking high in value-chain.

The research park will foster innovation pursuits of students graduating with engineering degrees, he said.