Students’ Start-up Policy
Purpose of this policy
is to promote Student Startups.
NITIE’s mission
is at least 10 student startups every year to emerge
June 2019
Version – 2
NITIE
Students’ Start-Up Policy
National Institute of Industrial Engineering (NITIE) was set up by the
Government of India in 1963, with the assistance from United Nations
Development Program through the International Labour Organization. The main
objective for establishment of NITIE was to have a national training institute
of the highest possible standard of technical competence that can function as
the main centre of all Indian training in industrial engineering.
Appropriate to changing socio economic environments NITIE is interested
to focus on ‘ UDYAMA PRAGATI in addition to its current motto of UDYOG PRAGATHI.
NITIE has already initiated steps in this direction. An example of
this is Curriculum redesign, Creation of centres for Innovation,
Entrepreneurship and Incubation at NITIE.
Further, a IP policy is also in place.
NITIE Mumbai
V I S I O N .. Minimum of TEN STUDENT STARTUPS every year !
- Help students experience and live
enterprising as part of regular learning so as to emerge entrepreneurial
individuals
- Vision to use start-up as a pedagogical tool so as to develop K S As among the students
- Help the students to create and realise real economic value by leveraging every learning effort, time, talent and
ingenuity that they in-puted for
academic learning through the process of systematically collecting, collating and connecting
and creation of value
- To help the students to retrieve and
redeem a part of their learning expenses that they incurred by monetising
their student start-ups
Pedagogy that will be in vogue at NITIE shall be in support of
Kolb’s level -5 learning objective like creating. Towards this, active learning
methods, real world problem solving
methods, field visits, off campus site
visits etc shall be encouraged as part of curricula learning.
Idea workshops, Boot
campus, Escalator pitches, and Start-up festivals will be organised
periodically
NITIE will encourage students
to work their summer, six months and final field projects as Start-Up projects.
With this we at NITIE believe that when
learning is enterprise it transforms learners as intra and or entrepreneurial
A systematic assessment
and evaluation of students start-up learning
will be incorporated by adopting methods
such as Milestone Based Continuing Internal Evaluation (AICTE Startup Policy
2017) .
NITIE will help its
faculty to effect necessary changes in the existing courses, announce new
courses and adopt new pedagogies to promote
the student startups.
4. Funding of the Student
Startups
Considering the
students as initiators of startups, NITIE shall encourage ‘low and no capital’
student startups. In other words it is recognised that students will avail the faculty knowledge
captial and students’ efforts and social
capital of all student fraternity, and locational
advantage of NITIE in Mumbai metropolies.
Further, NITIE will
seek from its alumni financial, and
mentoring support to current students by extending Capital ships.
5. Allowing start-ups by students
NTIE is happy to direct
its students to launch and operate their startups. NITIE will be extending necessary
administrative approvals and permits to its students to launch their
startups. Towards this, NITIE shall issue
necessary certificates viz., No Objection certificates, Student address
certificates for registration of their
startups etc.
NITIE will also
encourage its students to avail the necessary facilities available on campus centers like
NITIE Center for Student Startups, AMCE lab, Innovation Center, Mind to Market Lab, NITIE Incubation facility
6. Incentives, Exemptions and Concessions Student Starters
a)
NITIE
shall announce limited financial incentives to NITIE Student Startups. Towards this, NITIE
will create annual fund of Rs 50 lakhs (
in words fifty lakhs) every year Financial incentives to student entrepreneurs
will be offered out of this fund. This fund will be administered as per the
Institute rules and regulations.
b)
Student
Starters will be extended concessions and exemptions like attending Pre Placement talks, relaxation in attendance
rules,
c)
Student
Startups are allowed to avail various physical facilitates, computing
facilities, network facilities, laboratories, available in various centers at NITIE.
d)
NITIE
Deferred Placement Policy will also be available for the students who would
like to avail it.
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/
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Annexure 1 : Rich Startup Ecosystem that exists at NITIE for
startups
NITIE has promising startup ecosystem on many different counts.
· Several
centers are contributing to startup ecosystem at NITIE They are NCSE, Mind to
Market, Incubation Center, Innovation center etc.
· Academic
support to startups is also available from unique Curriculum and Pedagogy that
is practiced at NITIE
· Various
field and industry projects undertaken by the NITIE Students are coming as
great help to prospective entrepreneurs out of NITIE Alumni – Summer intern
projects, Final year field project, Six
months projects is again a plus point
for startup ecosystem
· Deferred
Placement Policy in place for the last 5 years help to reduce the perceived risk if any associated with startups
· Stock
of NITIE allumni entrepreneurs are inspirers of new startups on campus. Ex.
Lal10, FreekaaMaal, 5 Elements, Matic network, Vaave,
· Integrated
working of various NITIE Centers developed over the years as support to
upcoming startups
· There
are alumni who extend mentoring and funding support to the student startups .
There are plans by alum to seedfund some of the startups. There are also plan
to support startups by offering Capital – Ships to the students.
Annexure 2 : Criteria for awarding the financial Incentive to student
entrepreneurs
· Brief
description of student startup
· Details
of partners and rationale for team members
· What
curricular objectives the startup will support ?
· Details
of Enterprise mentors
· Amount
of investment made ? and mode of using the funds ?
· Details
of funding raised – Ex. Angels, family and friends ? and use of
funds ?
· What
are the enterprise mile stones so far
achieved ? Submit the proof .
-
Legal entity creation, Startup website made,
Minimum Viable Product / Service in place, Business Model validated, turnover achieved, customers and repeat
customers
· If
student has undertaken a summer enterprise project ? Yes / No
· If
student has undertaken a final enterprise project ? Yes / No
· If
student is interested to avail Deferred Placement Policy ? Yes / No
· Details
of the academic assignments made out of any student startup ?
· Details
of the formal agreements executed with the vendors and suppliers
· Profile
of customers and repeat customers if any
· Agreements
and or NDAs signed for startup.. No. and Details ?
· Any
IPRs earned ? Any logos and trademarks registered ?
· Employees
working for enterprise ? Their job roles
and who are they
· Organogram
of the startup
· MOOCs certifications done by the students related
to entrepreneurship ?
· B
Plans and competitions if any won
· Startup future plans ?
· What
is the valuation of the startup – with proper reasoning
· How
the financial grant will make a difference
- What will it allow startup to do that the startup at present could not
do without the financial support ?
· What
do you expect to be the impact of the financial grant on the startup ?
Feedback on the
drafts
“ Appreciate your detailed effort in
crafting this policy for NITIE. I found it well written and user-friendly.
Since you deeply know the existing and potential entrepreneurial possibilities
at NITIE, I am sure you have made this policy keeping NITIE students at the
center. My best wishes ! … Dr. Sanjay Inamdar
..AICTE, Innovation Council
