BEST PRACTICES 2

  1. TITLE OF THE PRACTICE: INCUBATION CENTRE
  1. OBJECTIVES OF THE PRACTICE
  • Encourage students and faculty for innovation, idea generation and product development
  • To promote New Technology/ knowledge/ Innovation based start-ups.
  1. THE CONTEXT
  • There is an acute shortage of daring students or entrepreneurs with a mindset to convert their technology ideas into solutions that can find buyers.
  • The main challenge for the institutes is to create a culture of entrepreneurship, get quality businesses incubated on campus and provide them necessary resources to flourish. 
  1. THE PRACTICE 
  • Market research
  • Identifying team & service providers
  • Allocation of resources
  • Establishing interlinks & intralinks with industries
  • Making programs
  • To lucrative, choose, retain & manage start-ups
  1. EVIDENCE OF SUCCESS
  • It motivated our students to participate in the hackathons.
  • It enhanced the students interest towards entrepreneurship
  • It increases the student’s interest of learning. 
  1. PROBLEMS ENCOUNTERED AND RESOURCES REQUIRED 
  • High costs: Start-up incubation can be expensive, especially for early-stage entrepreneurs who may not have a lot of funding.
  • Time commitment: Start-up incubation also requires a significant time commitment.
  • Developing a strong investor network is extremely crucial.       

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