GGSIPU Launches Rs 5 Crore Innovation Fund for Startups
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Guru Gobind Singh Indraprastha University (GGSIPU) has set up a separate Innovation and Incubation Fund of Rs 5 crore to encourage entrepreneurship and startup activities. The activities planned in the domain would help train the students from the University and affiliated colleges in the field of Science, Technology, Engineering, management, Humanities, Mass Communication, Law, etc. The fund will be utilized for Startup formation, mentoring and seed funding, through equity participation; pre-incubation and incubation projects; prototype development in collaboration with the industry; and NextGen technology facility creation. The announcement to provision of this fund was made at the Innovation and Incubation conclave, which was organized by the Institution’s Innovation Council (IIC) along with the Atal Incubation Centre (AIC) and IPU-Innovation Incubation Foundation (IIF).
Addressing the aspiring incubators, Padma Shri Prof Mahesh Verma, Vice Chancellor said, “Innovation and incubation can solve global problem. The need of the hour is to sensitise and empower students beyond traditional knowledge and provide them the resources of infrastructure, finances and human resources. The university is committed to accelerate the new projects and ignite the new minds, he added.
Prof Gagandeep Sharma briefed about the process of engaging with the GI2S. He asserted, as kickstarters how each of the institute affiliated will be allotted one theme. One faculty as a mentor can enroll minimum two students. He explained the various steps to enroll for the startups and avail the seed money.
Dr Ritesh Malik, founder and CEO of Innov8, Stressed on the fact as to how the University and incubation go hand in hand. University serves as the budding ground for incubation. He informed that around 80 crore jobs will vanish in next 6-7 years and another 40 crore jobs will emerge in the various new fields, like that of AI, Robotics, Nanotechnology, 3-D printing, etc.
Prof Meenu Kapoor briefed the participants about the provisions at various incubation centres at GGSIPU.
The welcome address was delivered by Registrar Dr Kamal Pathak and the vote of thanks was proposed by Prof Ajay Singroli. On the occasion, the AIC brochure was also released.
