IIT Palakkad has established IIT Palakkad Technology IHub Foundation (IPTIF) to facilitate the Technology Innovation Hub on Intelligent Collaborative Systems (TIH-ICS) setup at IIT Palakkad by National Mission on Interdisciplinary Cyber Physical Systems (NM-ICPS) coordinated by the DST, Govt. of India. TIH-ICS, through IPTIF, plans to attract potential and harness expertise available nationwide, thus fostering research innovation, world class technology and product development.

Modelling, analysis, control, devices, networks, robotics, data, and simulations are all building blocks of CPS technologies. IPTIF focuses on Intelligent collaboration (or Merger) of these building blocks to propel the application of high priority in the CPS National Mission. These applications include but are not limited to agriculture, healthcare, cybersecurity / privacy, industrial operations, transportation, surveillance, communication.

IPTIF also plans to build linkages with research institutes and labs within and outside India. One of the primary goals of this company is to work in close collaboration with industry to deliver commercial technology and products and build a vibrant innovation ecosystem by providing a reliable platform for technology-based start-ups and entrepreneurs.