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Institue Innovation Council
About IIC
The Ministry of Education (MoE), Government of India, has established the “MoE’s Innovation Cell (MIC)” with the goal of systematically fostering a culture of innovation in all Higher Education Institutions (HEIs). The primary mandate of MIC is to encourage, inspire, and nurture young students, enabling them to work with novel ideas and transform these concepts into prototypes during their formative years.
MIC has envisioned the creation of “Institution’s Innovation Councils (IICs)” within selected HEIs. A network of these IICs will be established to promote innovation on campuses, thereby fostering an innovation promotion ecosystem.
The IIC is driven by a vision to instill a culture of innovation and entrepreneurship among students and faculty. Its primary focus is to provide resources and infrastructure for product development, commercialization, and venture creation.
Objectives
1. Skill Development: Skill and train students, faculty, innovators, and entrepreneurs to embrace the spirit of startup entrepreneurship through dedicated programs.
2. Idea Translation: Identify ideas, proofs of concept, prototypes, and transform them into product development and minimum viable product (MVP) stages through technology readiness level (TRL) activities.
3. Engagement Initiatives: Organize Ideathons, Hackathons, and Boot camps to actively engage and nurture the interest of students, faculty, and innovators.
4. Incubation Centers: Establish world-class incubation centers in collaboration with various government agencies such as DST, MSME, NITI Ayog, among others.
5. Infrastructure Development: Create the necessary infrastructure for rapid prototyping, product development, and the MVP stage of innovations.
6. IPR Generation: Foster the creation of intellectual property rights (IPRs) among faculty members, students, and innovators.
7. Research Commercialization: Bridge the gap between research and product commercialization by encouraging faculty members to adopt a practical approach rather than focusing solely on research publications.
8. Startup Empowerment: Provide startups with support in business technology and marketing.
9. Incubation Programs: Implement pre-incubation, incubation, and acceleration programs effectively.
10. Stakeholder Collaboration: Strengthen partnerships with various stakeholders from industry, research and development, financial institutions, and academia, enabling a complete synergy for mutual support and shared outcomes.
Innovation and Startup Policy
The Innovation and Start-up Policy serves as a guiding framework to actively engage students, faculty, and staff in innovation and entrepreneurship-related activities. This policy is designed to foster student-driven innovations and start-ups while involving both students and faculty in campus-based innovation and start-up endeavors. Its overarching aim is to establish, streamline, and fortify the innovation and entrepreneurial ecosystem within the campus. Additionally, it plays a pivotal role in harnessing the creative problem-solving abilities and entrepreneurial mindsets of students, fostering robust partnerships within and outside the institution, and creating an innovation and start-up ecosystem that extends from the local to the global level.
This comprehensive framework encompasses aspects such as intellectual property ownership management, technology licensing, and institutional start-up policy. These components collectively contribute to the creation of a resilient innovation and start-up ecosystem throughout the institution.
Main Objectives
1. Cultivating Innovation Culture: Nurturing a culture of innovation within the institution and extending its influence throughout the region.
2. Prototyping and Socio-economic Impact: Facilitating the swift transformation of innovations into prototypes with a particular emphasis on their socio-economic impact and alignment with market demand.
3. Entrepreneurial Platform: Identifying potential entrepreneurs among the student body and faculty and providing them with a platform to achieve success in their entrepreneurial ventures.
4. Commercialization Catalyst: Acting as a catalyst for the rapid commercialization of technologies developed by emerging entrepreneurs.
5. Collaborative Nexus: Creating connections and synergies between academic institutions, research and development organizations, industries, and financial institutions. These connections enhance collaborative opportunities and facilitate the advancement of innovation and entrepreneurship.
The Deccan College of Engineering and Technology’s Innovation and Start-up Policy is a vital enabler of a thriving culture of innovation and entrepreneurship, with a focus on creating tangible socio-economic impact and fostering collaboration across multiple sectors and stakeholders.