The document discusses the purpose and rationale for the Institute of Chemical and Biotechnology (ICBT) at the University of Technology. The ICBT aims to enhance commercialization of the university's chemical and biotechnological capabilities through partnerships. This will provide regional expertise to businesses, research input for academics, and opportunities for international exchange and student training. The ICBT plans to establish entrepreneurial incubators and partner with existing initiatives like Technological Transfer and Innovation. The organizational structure includes directors, managers of various departments, and external clients. The ICBT also aims to establish communities of students and projects as well as influence curriculum. Challenges mentioned include changing mindsets and establishing effective organizational structure, policies, and financial sustainability.