Innovation and Entrepreneurship

Objectives and Concept of the Practice

The institution aims to inspire and nurture an entrepreneurial mindset among students and
professionals, equipping them with the skills and confidence to explore new ventures. By
offering a comprehensive support system—including access to resources, mentorship, and
networking opportunities—the institution seeks to transform innovative ideas into viable
business solutions. Additionally, the institution strives to strengthen collaborations between
academia and industry, fostering synergies that enhance research and development efforts.
This approach bridges the gap between theoretical knowledge and practical application,
accelerating the commercialization of innovative ideas and driving economic growth and
societal impact. Through these efforts, the institution aspires to cultivate a vibrant innovation
and entrepreneurship ecosystem.

The Practice

The institution promotes collaboration between academia and industry through joint projects,
internships, and knowledge-sharing sessions, ensuring students and faculty are exposed to
real-world challenges and can apply innovative solutions. The institution has also launched
Incubation Centers that offer resources such as mentorship, workspace, and funding
opportunities for budding entrepreneurs. Additionally, workshops and seminars on innovation,
research methodology, ethics, Intellectual Property Rights (IPR), and entrepreneurship
development educate participants on the legal and strategic aspects of innovation. These
initiatives are supported by the institution’s policies on research, IPR, and entrepreneurship,
creating a robust ecosystem for innovation and entrepreneurial growth.

Evidence of Success

No. Activity Remarks Institution’s Innovation Cell under the aegis of Institution’s Innovation Council – MoE Established in 2019, till date is successfully building an ecosystem for innovation and entrepreneurship Incubation Center The Institute has a centrally Air Conditioned Pre Incubation Centre. The Facilities available are, Work Stations, Meeting Room, Event Space, Conference Room, Page 3 of 3 Computers, WiFi, Printer, Documentation Support, Pantry,Power Backups, Power Outlets, Fresh Room Tecnia Institute of Advanced Studies – Innovation and Entrepreneurship Policy w.e.f 28.06.2022 No. of educational cum industrial tour/visits: 26 interstate tours, 10 Delhi NCR visit and 02 virtual visits No. of session for counseling and guidance by industry experts 40 Number of workshops/ seminar/ conference conducted on Research Methodology, IPR and entrepreneurship 55 No. of Industry Experts interacted with the students 62 No. of industry sponsored projects completed 21 No. of Business entity established 27 No. of students who are successfully contributing to their family business 470 No. of published patents 19

Problems Encountered and Resources Required

1. Students often struggle to fully understand market challenges, highlighting the need for
   ongoing mentorship and strategic guidance.
2. Continuous mentorship, networking opportunities, and encouragement are essential for
   students pursuing entrepreneurship beyond the campus. Support from the institution and
   family is crucial for success.