The National Innovation and Start-up Policy 2019 for students and faculty in HEIs was launched by Former Minister of Education, Shri Ramesh Pokhriyal 'Nishank' on 11th September 2019 at AICTE, New Delhi.
The policy is a strategic framework designed by government to promote innovation and entrepreneurship in the country. The policy aims to create a supportive ecosystem for startups by providing them with access to funding, mentorship, and other resources. It also seeks to build a culture of innovation by encouraging research and development in various sectors and creating opportunities for collaboration between startups, academia, and industry. The policy is aimed at driving economic growth, creating jobs, and fostering technological development. It serves as a roadmap for the government's initiatives and actions related to innovation and startups, and outline the key stakeholders involved in achieving the policy's objectives.
- Creation of innovation fund for supporting innovative projects and startups by allocating minimum 1% of institutions total budget
- 2% to 9.5% equity/Stake in startup/company by Institutes incubator.
- Complete ownership of IPR by the inventors in case of non-usage of institutes facilities / resources
- Services to be offered by institution in lieu of equity, fee based or zero payment model
Our vision is to develop high quality techno graduates capable of doing cutting edge research and innovation and deep-tech entrepreneurship.
- Encouraging and supporting the establishment of innovation and entrepreneurship centers in higher education institutions.
- Promoting and facilitating the creation of startups by students, researchers, and faculty members.
- To create a space for knowledge exchange and technology transfer among the students and staff.
- Fostering collaboration between higher education institutions and industry to promote innovation and entrepreneurship.
- Developing and implementing policies and programs to support the commercialization of research and development activities in higher education institutions.