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Mechanism |
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Innovation and Entrepreneurship Development
Centre (IEDC)
The Innovation and Entrepreneurship
Development Centre (IEDC) is being promoted in educational institutions
to develop institutional mechanism to create entrepreneurial culture
in S&T academic institutions and to foster techno-entrepreneurship
for generation of wealth and employment by S&T persons. The
IEDCs are established in academic institutions (science colleges,
engineering colleges, universities, management institutes) having
requisite expertise and infrastructure.
The mission of the IEDCs is to "develop institutional mechanism
to create entrepreneurial culture in academic institutions to foster
growth of innovation and entrepreneurship amongst the faculty and
students ".
Objectives of the IEDCs:
- To act as an institutional mechanism for
providing various services including information on all aspects
of enterprise building to budding S&T entrepreneurs.
- To create Entrepreneurial culture in the
Parent Institution and other institutions in the region and to
promote the objectives of NSTEDB, including programmes related
to women and weaker sections of the society.
- To inculcate a culture of innovation driven
entrepreneurship through student projects.
- To catalyse and promote development of S&T
knowledge-based enterprises and promote employment opportunities
in the innovative areas.
- To respond effectively to the emerging
challenges and opportunities both at national and international
level relating to SMEs and micro enterprises.
Functions of IEDCs:
- To organise Entrepreneurship Awareness Camps,
Entrepreneurship Development Programmes, Faculty Development Programmes
and Skill Development Programmes in the college/institution for
the benefit of S&T persons.
- To initiate five innovative student projects
each year for new innovative product development.
- To organize Business Plan Competitions every
year.
- To guide 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.
- To arrange interaction with entrepreneurs
and create a mentorship scheme for student entrepreneurs.
- To facilitate creation of entrepreneur's
club in each college to foster culture of entrepreneurship amongst
students
- To act as a Regional Information Centre on
business opportunities, processes, technologies, market, etc.
by creating and maintaining relevant data bases.
- IEDCs would also sensitise the management
of the institutions regarding the importance of entrepreneurship
and integrate their activities with the Host Institutions.
Criteria for Selection of an
Institution to Set up an IEDC
The sponsoring/parent institution
should fulfill the following criteria:
- The institution should be a University/deemed
to be University or a premier Institute/College offering Engineering,
Technology, Science & Management courses at degree level or
above for at least 5 years. In case of a college/institute, it
should be duly recognised and affiliated and while in case of
the private institutions, it should be promoted by a Trust or
a Society registered under relevant Acts besides being recognized/affiliated
to AICTE/Universities.
- Qualified and dedicated faculty in various
disciplines with a good Research & Development base and background
in industry related activities.
- Adequate space for locating the Cell including
the modifications proposed to be carried out in the building,
availability of utilities like electricity, water, telephone installation
and internet connectivity.
- Availability of workshops, laboratories
and computational facilities.
- Library with a good collection of books
and journals.
- Experience in Entrepreneurship Development
and Promotion and Industry related activities such as Consultancy,
Product Development, Testing, Calibration, etc.
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