Incubating Ideas

Modern day educational institutes cannot stop at teaching. Many institutions go the extra mile to identify and cultivate their students’ entrepreneurial aptitudes. As a policy to generate additional employment and help a larger number of young graduates become self-reliant, the Government of India is also promoting the idea of start-up ventures by students fresh out of college. The government is doing this with major government-affiliated research institutes by offering technological support to socially beneficial ventures. Needless to say, such ventures will also benefit the country as whole.
Similarly, the Indian Institutes of Management (IIMs) have introduced programmes that prepare their students to step into the business world and start ventures of their own. IIM Ahmedabad hosts the Centre for Innovation Incubation and Entrepreneurship (CIIE) at the institute. The ‘iAccelerator’, an initiative of the CIIE, is a programme created to not only enable, but in fact encourage students to start their ventures and become entrepreneurs after graduation. Of course, having an idea to have a start up is essential. According to Tanvi Rangwala, Director – ICT Initiatives, CIIE, this programme is intended to provide facilities to entrepreneurs in the technology areas (especially internet and mobile). This support is to establish well run, technically sound and profitable companies in India. The experience that IIM-A has to offer, network, and the capital incentive pave way for a better chance to succeed.
If you want to benefit from this programme, the main criterion is to be a new venture in the Internet and mobile domain. Whether you are absolutely new or in the early stage, you can apply to be part of the programme. The finalists receive seed money, office space and infrastructure and mentoring, along with a chance to showcase their product.
IIM Bangalore too, supports new ventures involved in the development of security solutions for banking, bioinformatics and various similar projects. The initiatives are not limited to business schools alone. The National Institute of Design (NID) in Ahmedabad, has set up the National Design Business Incubator (NDBI), the main objective of which is to promote young, design focussed entrepreneurs. Mahesh Krovvidi, CEO, NDBI informs that the basic purpose of NDBI is to develop a culture of entrepreneurship in the creative minds of young design students, so that their ideas culminate into products and services that are capable of being marketed and sold. Besides education institutions, there are non profit organisations that provide a platform to students to use their academic expertise and information to form and execute entreprenership ventures to benefit society at large. Students in Free Enterprise (SIFE) is one such nonprofit. Its India chapter established in 2003 has been the connecting point for many young entrepreneurs with their various communities across the globe. At present, the SIFE network is present in 50 universities in over eight cities in India. Keshav R Murugesh, Chairman, SIFE India and Group CEO, WNS Global Services says that a key factor for India to cross over from a developing to a developed nation, is the generation of young leaders who are willing to think and work globally. Young leaders who can work with communities all over the country and try to reduce the gap between the stronger and weaker sections of society.
SIFE is an innovative and powerful learning experience that brings in opportunities to students across
India to do their bit for the different communities in the country. As part of the programme, working experience is provided to these students. They are also introduced to corporate houses, so as to gain wider experience to start something on their own, which will not only benefit society but will change their own perspectives too. It is clear that many small companies have seen humble beginnings with seed money raised in the oddest of manners. If this trend of incubating services provided by such organisation continues, many interesting ideas will see light of day, rather than just be buried in the darkness of anonymity.

LIST OF INSTITUTES WITH INCUBATION CENTRES
• IIM Ahmedabad
• IIM Bangalore
• IIM Lucknow
• IIM Kozhikode
• IIM Calcutta
• SP Jain Institute of
• Management and Research,Mumbai
• BITS Pilani
• IIT Kharagpur
• IIT Madras
• IIT Bombay
• IIT Kanpur
• IIT Guwahati
• IIT Delhi
• Nirma Labs, Nirma University, Ahmedabad
• KJ Somaiya Institute of Management Studies and Research, Mumbai
• The ICFAI Center for Entrepreneurship Development, Hyderabad
• Mudra Institute of Communications, Ahmedabad (MICA)
• FMS Delhi
• Entrepreneurship Development Institute of India (EDI), Ahmedabad
• Wadhwani Center for Entrepreneurial Development, Hyderabad
• JSS Institutions, Mysore
• NITIE, Mumbai
• Science and Tech Entrepreneurs Park at NIT Trichy
• Society for Innovation & Development, IISC Bangalore
• Technopark, Karyavattom Kerala