The project is funded by the State Government. The centre is being set up at the lower part of Mizoram New Capital Complex (MINECO), Khatla, Aizawl. 

The objectives of the project are:

i) To provide better scientific assistance and technological intervention by harnessing the fruits of indigenous technological innovations and inventions for sustainable development of the state.

ii) To foster and nurture the skills of indigenous innovators for inclusive growth

iii) To provide institutional support mechanism to innovators and helps in technology up gradation and promotion.

iv) To deliver low cost and affordable machinery with improved quality.

v) To safeguard the tangible and intangible property of the innovators through IP mechanisms.