The Technology Business Incubator at BITS Pilani was set up in 2004, and formally inducted into a separate not-for-profit society called Pilani Innovation and Entrepreneurship Development (PIEDS), in 2012. Since inception, the incubator has played a pivotal role in supporting 75 startups, and many more who did not graduate and folded up.
The Incubator has been instrumental in defining and supporting an innovation, commercialization and entrepreneurship ecosystem at the Pilani Campus. Directly or indirectly, the incubator has motivated and inspired many BITSians to take up entrepreneurship. As per an estimate, BITS students and alumni have formed more than 300 startups after the incubator was set up in 2004, which may be attributed to the incubator and the ecosystem created in BITS, with many of them creating economic value for investors, and leading to job creation.