“In order to grow, India needs more jobs, it needs more entrepreneurs”, said Mr. Ratan Tata in a recent conference of business incubators. In a time when start-ups have become substantial contributors to a country’s economy, it becomes essential for India to boost the entrepreneurial minds of the country.
Taking a step in the right direction, Atma Ram Sanatan Dharma College becomes the first college of Delhi University to establish a ‘Technology Business Incubator’. The incubator, titled ‘Centre for Innovation and Entrepreneurial Leadership’ aims to support budding entrepreneurs and provide them with a substantial platform for technical innovation.
ARSD-CIEL is an official body of the college, and has been established with the ‘technology-entrepreneurship’ grant of MSMEs (Micro, Small and Medium Enterprises) of the Government of India. The college is currently inviting formal proposals in the specified format from students, faculty and other entrepreneurs/incubates. The centre will enable them to try out their innovative ideas/processes/products at the laboratory or workshop stage. Once an idea qualifies the workshop stage, it will be backed with all the necessary aid/mentorship for further execution from the ‘know-how’ to the ‘do-how’ stage of setting up of a business.
Dr. Rajeev Singh, Business Incubator Manager of ARSD-CIEL, says, “Currently, we are inviting proposals from the entrepreneurs who want to execute their ideas in the testing stage. Our primary aim is to cut down the infrastructural lags and provide them with all the basic facilities including capital to boost innovation”.
All the selected incubates will be provided with proper space, office and logistics in the CIEL premises to carry out their work. Selected proposals will also get substantial financial aid depending on the feasibility of the idea. ARSD-CIEL lays down the foundation for setting up micro-scale and small-scale start-ups and aims to ignite the spark of entrepreneurial thinking in the students. Funding offered by CIEL may range anywhere from Rs. 4 lac to Rs. 8 lac depending on the idea and requirements associated with it.
Dr. Gyantosh Kumar Jha, Principal of ARSD College, said in a recent interview, “We sent over ten projects from our college to Cluster Innovation Centre (CIC) of the university out of which 7 projects got selected. Earlier, colleges used to face financial hurdles in carrying out research and innovation projects. Now, with the establishment of CIEL under the guidance of MSME, students will be able to carry out innovative projects in a smooth and effective manner”. “We welcome this initiative of CIC and believe that it will result in the over-all development of our students”, he added.
Proposals are invited by the college in the following categories:
- Out of the Box
- Food Tech
It goes without saying that ‘entrepreneurship’ is the key to development in the current economic scenario. Mr. Narendra Modi, the Prime Minister of India, recently pitched for the vision of ‘Start-Up India’ and we firmly believe that initiatives like CIEL take us a step forward in the same direction.
University Express congratulates ARSD College for taking this laudable step in the direction of technical entrepreneurship and innovation. We hope other colleges of the university follow the lead soon!