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IEDC Vision & Mission

Innovation & Entrepreneurship Development Centre

Vision

"To be a self funded department catering to the needs of young entrepreneurs with innovative ideas of national/international importance and societal needs"

Mission

Develop a mechanism with required infrastructure that can enable students and faculty to innovate and prototype their innovation with support from Govt., industry and academic institution

Objectives

  1. To create state of the art infrastructure facility with industry collaboration for design and development of innovative products of national/international importance and societal needs
  2. To create entrepreneurial culture at the institution and support other institutions in the region, to promote the objectives of IEDC
  3. To inculcate a culture of innovation driven entrepreneurship through student projects and encourage women to become entrepreneurs
  4. To respond effectively to the emerging challenges and opportunities both at national and international level relating to SMEs and micro enterprises
  5. To organize design contest, seminars, workshops and short term courses to encourage students within the region to become innovators and entrepreneurs
  6. To promote business activities for self funding

Short Term Goals

  1. Promote entrepreneurial culture among students and encourage atleast six students to become entrepreneurs with support from IEDC
  2. Setup of incubation centers and entrepreneurship cell for students interaction and industry participation
  3. Organize seminars and workshops for regional students and promote entrepreneur culture
  4. Collaborate with MSME, MNCs, R&D organizations and other academic institutions for research and development activities
  5. Setup of patent cell to enable students and faculty for search and document patent application forms for filling

Long Term Goals

  1. Establish collaboration with reputed Govt. Organizations, academic institutions and industries and create a network that can enable students to actively participate and pursue their entrepreneurial interests
  2. Carry out collaborative research and development activities with reputed international university, and setup state of the art innovation labs that can help students to build their products
  3. Provide a platform for students to develop innovative products with global recognition and generate business opportunities
  4. Generate revenues through licensing and technology transfer

Plan of Action for the next Three Years

First year

  • To organize Entrepreneurship Awareness Camps, Entrepreneurship Development
  • Programmes, Faculty Development Programmes and Skill Development Programmes in the college/institution for the benefit of S&T persons.
  • Creation of entrepreneurship club in the college
  • To organize design contests among students from all branches and invite experts to short list the projects for promotion
  • To conduct inter department contest and choose five best projects for funding
  • To setup IEDC with required facility and establish industry relations for technical and financial support
  • To select five innovative student projects for new innovative product development
  • To commercialize the products with licensing or technology transfer
  • Recruit eminent faculty members and build a research team that can support students

Second Year

  • To setup incubation centre with the help of industry participation and support students in converting their ideas to products for commercialization
  • Establish collaborations with other organizations and promote entrepreneurship culture
  • Conduct and assist prospective entrepreneurs on various aspects such as preparing project reports, obtaining project approvals, loans and facilities from agencies of support system, information on technologies, etc.
  • Setup of regional information centre on business opportunities, processes, technologies, market, etc. by creating and maintaining relevant data bases
  • File atleast 5 patents based on the innovations carried out by students
  • Fund and monitor students in setting up of their own business

Third Year

  • Setup consultancy and development cell to support industries and generate an annual revenue of 50 lakhs
  • Setup of product development centre and testing facility centre
  • Setup of funding agency to help students and fund their business proposals