TREC-STEP has been awarded the prestigious World Bank InfoDev grant in 2004, for developing a new business incubation initiative titled 'Developing ICT Synergies for incubating Start-ups'. This proposal also brings together the support from Department of Science and Technology, Government of India, for a specialized Design innovation facility and the Ministry of Small Scale Industries, Government of India and Tamilnadu Small Industries Development Corporation's support for the incubator's built-up modular space, building and other infrastructure.

Opportunities unveiled by new global development provide immense scope for ICT enhanced Business Incubation processes and for promoting high growth start-ups. TREC-STEP, with its good track record of Best Performing STEP in India, to enable greater focus for promoting start-up clusters, proposes a series of ICT enhanced incubation initiatives for developing ICT Synergies in Business Incubation. A set of innovative initiatives shall facilitate formation and growth of start-up clusters providing more jobs and wealth creation in the region. The dormant regional competencies are planned to be leveraged to access and benefit from global businesses by providing a new set of incubation inputs. Incubation processes in India are yet to adopt suitable ICT strategies, ICT retooling and ICT synergies for incubating start-ups, which, if made available, can use the Indian talent in various sectors, for the benefit of the society. This proposal shall be a flagship Incubation initiative in India for other incubators to emulate.