EDII & DST together launch NewGen IEDC to encourage Entrepreneurship among Students

By SiliconIndia  |   Tuesday, 21 May 2019, 12:10 Hrs
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Entrepreneurship Development Institute of India (EDII), a national research institute for Entrepreneur Education, research & training, in coordination with Department of Science & Technology (DST), Government of India, will take up over 2,000 science & technology projects for the next three years.

Students from over 40 institutes across India are encouraged to participate in the commercial possibility of these projects. The institutes include Indian Institute of Technology, Guwahati, SRM Institute of Science and Technology, ITS Engineering College, Indian Institute of Information Technology.

Talking about NewGen IEDC, SB Sareen, Project Director & Co-Member Secretary, DST NewGen IEDC, says, “The major objective behind launching this programme is to motivate and encourage those students who take up projects during their internship, but fail to take it forward due to various constraints including funding. Through this support by DST, we aim to take up those ideas that have high degree of innovation and commercial viability as well as mentor students to lead a possible startup.”

The programme is launched under New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC), by National Science and Technology Entrepreneurship Development Board (NSTEDB). DST will provide funding to these projects with the aim to encourage innovation & entrepreneurship amongst the young science & technology students. NewGen IEDC was announced in 2017-18 and around 400 projects from 25 academic institutions have already been supported. A maximum of twenty projects would be supported in a year.

Sareen further states, “Over last few years, students are opting out of deferring campus placements to give a chance to their dream projects. However, despite being innovative and commercially viable, some projects do not get converted into business plans as these students lack the support from the ecosystem.”

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