Entrepreneurship Development Cell

Mission statement

“To promote knowledge based and technology-driven start-ups by harnessing young minds and their innovation potential in an academic environment”

Institutional Mechanism

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: 
  • 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 specially students.
  • 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 entrepreneurs.
Functions of NewGen IEDCs: 
  • 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, etc.
  • To arrange interaction with entrepreneurs, bankers, professionals, potential customers and create a mentorship scheme for student innovators.
  • To facilitate creation of Entrepreneur's Club / E-Cells in the college to foster culture of entrepreneurship amongst students.
Advisory Board

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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