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Four technicians of a private start-up company were involved in some experiment at the laboratory when an explosion occurred suddenly at around 2.20 pm, they said.
Technician Manoj from Mysuru died on the spot while three others suffered injuries.
The injured have been admitted to a private hospital where their condition was said to be stable, police said.
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Assistant Commissioner of Police Niranjan Raj Urs told PTI that the start-up company Superwave Technologies Private Limited was having a tie-up with the IISc for carrying out experiments pertaining to its research.
“Forensic experts would ascertain the actual cause of the accident but it seems like a cylinder blast,” he said.