NEW GENERATION INNOVATION AND ENTREPRENEURSHIP DEVELOPMENT CENTRE
Marwadi University - NewGen IEDC
New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC) is the programme launched by National Science and Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India. NewGen IEDC will aim to inculcate the spirit of innovation and entrepreneurship amongst the young S&T students, encourage and support start-up creation through guidance, mentorship and support. The programme will be implemented in academic institutions. Students will be encouraged to take up innovative projects with possibility of commercialization.
Objectives of NewGen IEDC
- To channelize the knowledge and the energy of youth towards becoming active partners in the economic development process.
- To catalyze and promote the development of knowledge-based and innovation-driven enterprises and promote employment opportunities amongst youth, especially students.
- To inculcate a culture of innovation driven entrepreneurship.
- To act as an institutional mechanism for providing various services including information on all aspects of enterprise building to budding S&T entrepreneurs..
Guidelines for Submission of Student Project Details
The proposal should carry complete details about the student projects including financial requirement and the possible market for the product. The project information may cover the following aspects:
- The product/service/idea
- The technology behind the product/service
- Possible innovation at a later stage
- The market (the size of the market and its growth potential)
- A brief description of each member of the team stating qualification and other details
- Name and qualification of mentor
- Whether any preliminary discussion has been done with the mentor
- Whether any of the team members participated in a program related to entrepreneurship
The Support System
- Is the host institution capable of supporting the student?
- Does the host institution have necessary equipment/hardware for product development and subsequent testing?
The Financial Requirement(may not be restricted to DST support)
- The cost of purchase of raw materials
- The cost of contingencies
- Product development cost/ Consultancy cost and
- Any other expenditure
NewGen IEDCs will be coordinated by Entrepreneurship Development Institute of India (EDII), Ahmedabad on behalf of NSTEDB, DST and implemented by the Marwadi University.
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The Prototype Development Grant of Rs. 2, 50, 000/- per project, would cover the following expenditure
- A maximum amount of Rs 25,000/- to the mentor for providing guidance to the project team
- A maximum amount Rs 25,000/- per student group as a stipend
- Rs 2, 00,000/- for the cost of raw material, prototype development cost, external vendor/consultant cost
In case the expenditure on item no (3) is more than the stipulated amount of Rs 2, 00,000/- the additional expenditure will be borne by the student team/college/institute.
The above funding is just indicative and may vary from case to case.
- Applicable to only Students
- Have an innovative idea and possibility of commercialization
- Submission of Project Details
Start-up Project Submission
Hard copies submit to cabin no. MA 162, ECell, Marwadi University
University Level Start-up Committee will approve the project time to time