Innovation and Entrepreneurship Development Centre (IEDC) is the programme launched by National Science and Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India and implemented by EDII, Ahmedabad. NewGen IEDC aims to inculcate the spirit of innovation and entrepreneurship amongst the young S&T students, encourage and support start-up creation through guidance, mentorship & support. NewGen IEDCs would be established in academic institutions where students will be encouraged to take up innovative projects with possibility of commercialization.
NewGen IEDCs would also spread the message of entrepreneurship and create a culture of entrepreneurship in the Host Institution (HI). With faculty already trained in the nuances of entrepreneurship, the presence of IEDCs in HI would create a vibrant entrepreneurial culture amongst the students. Few amongst the “Job-Seekers” would be converted to “JobGenerators” through the entrepreneurial route.
About Sphoorthy IEDC
Sphoorthy Engineering College firmly believes in Innovation as the key to ignite novel ideas and critical thinking in young engineers, to address various complex engineering and societal challenges. In the year 2017, It is the only college in Telangana got a grant for the establishment of New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC) approved by Department of Science & Technology (DST) under the aegis of National Science and Technology Entrepreneurship Development Board (NSTEDB) and Entrepreneurship Development Institute of India (EDII). The NewGen IEDC ensures each innovative student idea gets a prototype fund of Rs. 2,50,000 and a total of 2.3 crore for 85 Student projects.
Salient features of IEDC:
- It is a five-year programme to be implemented in an educational institution
- A maximum of twenty new projects per Institution would be supported in a year
- The projects should be students’ projects with a high degree of innovation and commercial viability to lead to possible start-up by students
- As far as possible, the projects should be multi-disciplinary in nature and to be executed by teams consisting of students drawn from various levels.
Functions of IEDC:
- To motivate, support and mentor students for identification, development, and commercialization of their innovative ideas
- To initiate targeted number of innovative student projects each year for new product development
- To organize Business Plan Competitions/Innovation Camps/ Hackathons with active involvement of industry and alumni
- To guide and assist prospective entrepreneurs on various aspects such as preparing project reports, obtaining project approvals, loans and facilities from agencies of support system, technologies information, etc.
- To arrange interaction with entrepreneurs, bankers, professionals, potential customers and create a mentorship scheme for student innovators
- To facilitate creation of entrepreneur’s club / E-Cells in the college to foster culture of entrepreneurship amongst students
Activities Performed During the years:
- Workshop on Idea Generation and Innovation
- Entrepreneurship Awareness Camp (EAC)
- Entrepreneurship Awareness Program by Sphoorthy NewGen IEDC
- Workshop on Design Thinking
- Workshop on Patents
- Smart India Hackathon Participation
- Workshop on Business Plan
- Workshop on Team Building Essentials
- Workshop on Leadership & Management
- IDEATHON- Innovative Idea competition
- Students participation in Chinna Shodana Yatra in Assocation with Palle Srujana
- Awareness program by NEN Mentors to the Students.
- Project Expo By Sphoorthy Engineering College Students
- Training programs on Advanced technologies (IOT, DRONES, ROBOTICS, ANDROID ,3D PRINTING
- Innovation Expo organized by Sphoorthy NewGen IEDC in association with Palle Srujana
- student’s participation in “Entrepreneurship Development Program for Student Entrepreneurs” by NAARM
- Robotic Lab.
- Fab Lab with Mechanical and Electrical Components.
- Expert Mentors in each emerging technology domain.
- R & D Engineers to support student innovations.
- External Industry Association to guide student Innovations.
- Industrial grid 3D Printer.
- Co2 based Laser Cutting Facility.
- Advanced Wi-Fi Hotspot setup for students to work on IoT related projects.