Technology Business Incubation, MSME
The MSME- Business Incubation Centre of ITS Engineering College was initiated to provide a platform to assist and enable young entrepreneurs to initiate technology start-up companies for commercial exploitation of technologies developed by them. The MSME BI of ITS Engineering College also enables the budding entrepreneurs to showcase and test their abilities to run a start up business. The centre provides a range of resources that enables it to: Empower students, faculty and staff to pursue entrepreneurial achievements that improve people’s lives, drive the economy and help innovators bridge the gap between inventor and venture capitalist. Provide grants for students to pursue their own ideas for companies and products. Support, simplify and clarify student intellectual property transfer processes for students and the broader community. In view of the worldwide shortage of jobs (both government and private sectors) leading to unemployment problems and lack of proper utilization of human resources; the cell strives to identify talented youth to entrepreneurial works. The cell plans to organise various programmes for entrepreneurship development.
The Objectives of Business Incubator (BI)
- Assist prospective entrepreneurs in nurturing their technology ideas and promote successful corporate entity at pre-startup and startup stages
- Promote innovation among budding engineers trained by the institution
- To organize workshops participating successful entrepreneurs
- Commercialize the ongoing research undertaken by various departments of ITS Engineering College.
- Spot and nurture entrepreneurial talents from among the students of ITS Engineering College.
- To catalyse and promote development of S&T based Enterprises and promote employment opportunities
- To act as a forum for industries and organizations to discuss, plan, develop and execute projects where they benefit from intellectual, instructional and hi-tech infrastructure of ITS Engineering College
Activities of the Centre
The centre actively creates an environment for the young graduates to test their business ideas with minimal risks.
The cell facilitates the following events for the young generation entrepreneurs:
- To arrange series of Entrepreneurship development programs and interactive sessions to promote Entrepreneurship in the institute
- To arrange visits to industries for prospective entrepreneurs
- To facilitate the student teams to showcase their business ideas to funding agencies
- To facilitate seed funding for the young Entrepreneurs to test their business ideas with minimal risks
- To initiate start ups within the campus by student community by applying their business ideas
- To transfer the technical know-how and assist the students in setting up entrepreneurial enterprises
- To inculcate the culture of "apply what you learn and earn while you learn" in the campus
Scheme Highlights
Under “Support for Entrepreneurial and Managerial Development of MSME through Incubators” scheme of MSME Govt. of India, students can get funding support up to maximum Rs. 15 Lakh per idea for prototype development from Govt. of India through Business Incubation Centre.
Step - 1 The Idea of Innovation
Come out with an innovative idea which is marketable. The Key ingredient of Entrepreneurship is “innovation” which could signify any activity or procedure or product that is likely to be of use to society and therefore marketable in the long run.
Step - 2 Equip Yourself for the Show
Step - 3 Form a Team
Step - 3 Form a Team
Step - 4 Test Your Idea
- Present your idea before BI Sub-Committee for approval at the college level.
- If you get the approval from BI Sub-Committee then be ready for the next scheduled presentation of Ministry of Micro Small & Medium Enterprises(MSME).
- If idea gets the approval for seed funding make use of the seed funding and Implement your business idea.