| Institutional 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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