Navrachna Foundation for Entrepreneurship Development
NewGen-IDEC
Space Overview
NewGen IEDC at ITS Engineering College is an organization geared towards speeding up the growth and success of start-up and early-stage companies. NewGen IEDC has a mission to “promote knowledge based and technology-driven start-ups by harnessing heir innovation potential in an academic environment” In view of this, the National Science & Technology Entrepreneurship Development (NSTEDB), Department of Science & Technology (DST), has taken an initiative of introducing this scheme for setting up “New Generation Innovation & Entrepreneurship Development Centres (NewGen IEDCs)” being implemented by Entrepreneurship Development Institute of India (EDII), Ahmedabad. In this initiative DST is providing a grant of Rs. 2.87 Cr over a period of 5 years.
Objective of Newgen IEDC
With the establishment of NewGen IEDC, ITS Engineering College, undergraduate students, post graduate students, doctoral students, alumni, and faculties at NewGen IEDC, ITS Engineering College would be entertained to convert their business ideas into successful commercial or social ventures. NewGen IEDC, ITS Engineering College offers integrated, customized Innovation-Based Incubation support services for potential high investable entrepreneurs and enterprises. It scouts for innovative entrepreneurs, builds on ideation leading to develop a business concept, provides skills and competencies trough capacity building/ training programs towards building effective enterprises.
Entrepreneurship Road Map & Guidelines for Students:
Come out with an innovative idea which is marketable. The Key ingredient of Entrepreneurship is“innovation” which could signify any activity or procedure or product that is likely to be of use to
society and therefore marketable in the long run.
• Learn about the entrepreneurship development.
• Participate in the entrepreneurship development program.
• Form a Team with like minded and passionate candidates.
• Identify faculty mentor to guide you.
• Present your idea before BI Sub-Committee for approval at the college level.
• If you get the approval from BI Sub-Committee then be ready for the next scheduled presentation of Ministry of Micro Small & Medium Enterprises(MSME).
• If idea gets the approval for seed funding make use of the seed funding and Implement your business idea.
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