R.P.SARATHY INCUBATION CENTER

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INCUBATION CENTRE

INCUBATION CENTRE AT RPSIT

R P Sarathy Institute of Technology started the “Incubation Centre” for nurturing and overseeing innovation and entrepreneurship. The aim is to encourage entrepreneurship among locals with the colleges serving as focal points. It is a platform for nurturing, encouraging and developing innovation and entrepreneurial skills among its students, research scholars and alumni, as well as students of the region.

Entrepreneurship in India is on the verge of explosive growth. Angel investors, venture capital, media, startup clubs, service providers, mentors and training companies are going to grow. And one important cog in the wheel is the incubator – the place where startups are born. When a baby is born, he/she is kept in the incubator for first few hours and maybe days – this gives them a chance to adjust to outside environment, and grow stronger before they face the outside world ! In a similar way, a startup is incubated in Incubation Center, which gives them a chance to bring their business in shape, before they reach out to the world.

OBJECTIVES OF INCUBATION CENTRE:

• To create jobs, wealth and business aligning with national priorities
• To promote new technology/knowledge/innovation based startups.
• To provide a platform for speedy commercialization of technologies developed by the host institution or by any academic/technical/R&D institution
• To build a vibrant startup ecosystem, by establishing a network between academia, financial institution, industries and other institutions.
• To provide cost effective, value added services to startups like mentoring, legal, technical, intellectual property related services.

VISION

Our primary vision is to facilitate a platform for a budding entrepreneur to start a business venture with minimum risks. Incubation will ensure that incubates have access to technological assistance which will be generated through mentors with multidisciplinary expertise

MISSION

The mission of Incubation Centre is to nurture and empower the next generation entrepreneurs to serve the local problems. The students, alumni of RPSIT, local industries can come up with their ideas which might lead to the startup.

SALIENT FEATURES OF INCUBATION CENTRE AT RPSIT

• To encourage Entrepreneurship and innovation and incubation of ideas.
• To support the incubation of around 5 projects each year.
• Each project will be executed by a team of entrepreneurs (students/alumni/ Industry)
• Each project will be given infrastructural support such as workspace, internet etc.
• The program will cater to the projects that solve problems and find solution to local needs (district and state) rather than global problems and needs.
• The problem can be from any discipline but one should provide an IT solution to the selected problem.

SELECTION PROCESS AT RPSIT

A panel of eminent technocrats will process the applicants, interview the promoters and select the ventures for incubation after carefully evaluating the business idea, market availability, potential value of the technology, growth prospects, innovative content and promoter team. The panel will consist of experienced and qualified professionals from specific industry, leading bankers, seasoned venture capitalists and academicians of repute.

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ENTREPRENEURSHIP DEVELOPMENT CELL - START-UP POLICY

Vision

“To promote a culture of entrepreneurship inside campus by fulfilling the desires of RPSIT student entrepreneurs with innovative ideas of social relevance”

Mission

Developing provisions and facilities to empower students and faculty to innovate and prototype their potential ideas for the benefit of society.

Short Term Objectives

• To enhance the innovation, creative and design thinking ideas of students and develop it into products.
• Incubation and pre-incubation facility for faculty driven start-up and student/Alumni/Public start-up.
• Organize Guest Lectures, seminars and workshops, FDP, motivational talks for students, Faculty and Alumni to promote entrepreneurial culture.

Long Term Objectives

• Improve quality of research work in RPSIC among students and to attain patent which can be commercially used in production.
• Provide a platform for students to develop innovative products with global recognition and generate business opportunities.
• Generate revenues through consultancy work and student start-ups. Preamble RPSIT encourages enthusiastic students and faculty members to start companies, be on the committee of companies in positions such as Director, Chairman, CEO, Technical Advisor, etc. Wherever possible, the outcomes from R&D exercises carried out by our students and faculties are expected to get translated into commercial products. Entrepreneurship Development Cell was established in the college with the vision “Turn around the “Job seekers” into “Job Creators” in the year 2020. EDC has 1000 Sq.ft space and its own audio-visual equipment. It has a library with 100 printed titles and 400 volumes and also has repository of digital content of successful Entrepreneurial stories. Entrepreneurship Lab in the college is supplementing the existing UG Courses namely ‘Entrepreneurship’ and ‘Intellectual Property Rights’. RP Sarathy Incubation cell (RPSIC) was established as a part of initiating technological innovation and creating entrepreneurial ecosystem among students in the year 2020. It provides institute/national fellowships and incubation facilities. RPSIC funds good projects done by the RPSIC students completely or partially to include sense of innovation in them. Based on the guidelines of the Tamilnadu government Startup Policy and MHRD National Innovation and Startup Policy 2019 for faculty, staff and students, EDC and Innovation Centre were revived the start-up policy of RPSIC. The following action points are envisaged to promote the culture of innovation, entrepreneurship and startups inside the campus.