IIT Mandi Catalyst, a Technology Business Incubator (TBI) was launched in 2016 by the prestigious Indian Institute of Technology, Mandi. It aims to foster Research and Development (R&D) and entrepreneurship to spawn knowledge-intensive initiatives that would develop innovations useful to the society as a whole. As the name implies, the TBI will serve as a catalyst to nurture and guide entrepreneurial initiatives with social and/or commercial objectives by IIT Mandi students, faculty, staff and entrepreneurs from the region, and to invest in such entrepreneurial initiatives. In addition, the TBI will facilitate co-operation and interaction between IIT Mandi and industry as well as entrepreneurs. Although it will not limit itself to any specific technology or business sector, the TBI expects that initial emphasis will be in Telecom, Information Technology and Computer Networking, Education, Energy, Materials, Healthcare, Biotech and Automobile Engineering. Catalyst was awarded INR 5 crores funding from DST for the period 2016-21. IIT Mandi has committed about INR 8 crores. In addition, Vishal Bharat Comnet has donated INR 10 Lakhs toward incubation funds of IIT Mandi Catalyst.