Recipient of the International Lockheed Martin Outstanding Gold Innovation Award for the year 2007, TBI Composites was established in 2003 with the aim of incubating ventures in materials, technology, product and process development. This incubator has graduated 53 of the 56 firms it has incubated. The firms have generated 1500 jobs and added Rs 100 cr (Rupees one billion) to the economy.

A R&D lab linked TBI; TBI Composites is associated with RV-TIFAC Composites Design Centre, Bangalore, a R&D Centre established by TIFAC in collaboration with NAL, CMC Ltd and RSS Trust, Bangalore.

The CTP is managed and operated by Society for Development of Composites, in collaboration with RV-TIFAC Composites Design Centre, Bangalore. The TBI is administered by the Governing Council of Society for Development of Composites, a registered society under the Karnataka Societies Registration Act of 1960

The TBI has created an  impact nationally and internationally  by successfully designing and developing the technology of natural fibre-glass fibre hybrid, bio-composites products, as eco-friendly and cost effective alternatives to the products made out of the traditional building materials like wood, timber, metals, plastics etc.   Following the award of a Gold Medal by Lockheed Martin Inc. of USA for this technology innovation, several American companies have shown a keen interest in natural fibre based composite materials and products. Several Indian companies such as the Green Business Centre, Hyderabad and Bio-Diversity Council, Bangalore, have also shown a keen interest in collaborating with TBI Composites in promoting the applications of natural fibre composite materials and products in India and abroad.