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
- 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
- To create entrepreneurial culture at the institution and support other institutions in the region, to promote the objectives of IEDC
- To inculcate a culture of innovation driven entrepreneurship through student projects and encourage women to become entrepreneurs
- To respond effectively to the emerging challenges and opportunities both at national and international level relating to SMEs and micro enterprises
- To organize design contest, seminars, workshops and short term courses to encourage students within the region to become innovators and entrepreneurs
- To promote business activities for self funding
Short Term Goals
- Promote entrepreneurial culture among students and encourage atleast six students to become entrepreneurs with support from IEDC
- Setup of incubation centers and entrepreneurship cell for students interaction and industry participation
- Organize seminars and workshops for regional students and promote entrepreneur culture
- Collaborate with MSME, MNCs, R&D organizations and other academic institutions for research and development activities
- Setup of patent cell to enable students and faculty for search and document patent application forms for filling
Long Term Goals
- 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
- 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
- Provide a platform for students to develop innovative products with global recognition and generate business opportunities
- 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