The Next Big Idea

A dynamic culture of entrepreneurship and innovation is emerging in Indian universities.

- Lola Nayar and M.S.Shanker in Hyderabad

IT is an interesting time to be in an Indi-an university. Innovation and invention are no more the privilege of government-run premier institutions like IITs and IIITs. Nudged by the desire of students and the government to develop centres of research, private colleges and universities are also creating infrastructure to nurture innovation. Instead of just preparing students for the job market, many are initiating them on the path of entrepreneurship, helping them patent their innovations and license those to industries for commercialisation.

“Students are increasingly interested in materialising their ideas and launching startups. So many universities and colleges not supported by the government are developing infrastructure on their own to promote innovation and entrepreneurship,” says H.K. Mittal, adviser and member secretary, National Science & Technology Entrepreneurship Development Board (NSTEDB).

The board has an innovative programme called Prayaas, which promotes young and aspiring entrepreneurs. Under the initiative, innovators get grants of up to Rs 10 lakh for turning an idea into a prototype. NSTEDB also helps set up a ‘prayaas shala’ (fabrication laboratory) in that institute. The organisation is currently supporting more than 150 institutions all over the country, of which only 10 to 15 are IITs and IIMs.

NITI Aayog, department of biotechnology and ministry of electronics and IT also support universities.

“WE provide funding and help them build capacity by linking them to the Silicon Valley, universities in the UK and other institutions so that they can learn and adopt global best practices. We also help them establish linkages with funding agencies, angel investors, venture capitalists etc,” says Mittal. They have set up thematic incubators in the domains of biotech, agriculture, nanotechnology, design, etc.