Entrepreneurship Development Cell
“To promote knowledge based and technology-driven start-ups by harnessing young minds and their
innovation potential in an academic environment”
NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC)
The NewGen Innovation and Entrepreneurship Development Centre (NewGen
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 NewGen IEDCs are established in academic institutions
(science colleges, engineering colleges, universities, management institutes)
having requisite expertise and infrastructure.
Objectives of the NewGen IEDCs:
Functions of NewGen IEDCs:
- To channelize the knowledge and the energy of youth towards becoming
active partners in the economic development process.
- To catalyze and promote development of knowledge-based and innovation-
driven enterprises and promote employment opportunities amongst youth
- To inculcate a culture of innovation driven entrepreneurship.
- To act as an institutional mechanism for providing various services
including information on all aspects of enterprise building to budding S&T
- To motivate, support and mentor students for identification,
development and commercialization of their innovative ideas.
- To initiate targeted number of innovative student projects each year for
new product development.
- To organize Business Plan Competitions / Innovation Camps /
Hackathons with active involvement of industry and alumni.
- 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,
- To arrange interaction with entrepreneurs, bankers, professionals,
potential customers and create a mentorship scheme for student
- To facilitate creation of Entrepreneur's Club / E-Cells in the college to
foster culture of entrepreneurship amongst students.
For the effective implementation of the programmes, the Host Institution would constitute an Advisory
Board immediately after the sanction of the NewGen IEDCs by the DST. The Advisory Board will lay
down policy guidelines, fix up physical and financial targets, suggest measures for raising funds, effective
utilization of facilities and expertise available in the parent Institute and sourcing of expertise and
facilities from other institutions in the region. The Advisory Board should meet at least twice a year and
should hold its first meeting within four months of receipt of grants-in- aid. The student projects should be
approved by the Advisory Board.
The Advisory Board may have the following composition:
- Head of the Host Institution - Chairman : Dr. G.Durga Sukumar
- Coordinator of NewGen IEDC - Member Secretary : Dr. Narayan Sangam
- One Member from Industry Associations : Dr. Bhagwati Rao:
- Alumni Entrepreneurs from the Host Institutions : Mr. Sai Srinivas. Mech. 2007-2011 Batch
- Members: All H.O.Ds and Dean Academics
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