Start-ups : Government tells institutes to use 1% of budget for supporting
Good news for Students & Faculty:
Students and Faculty will be allowed licensing of IPR from the institute and will be allowed to work part-time for the startups during study.
Higher education institutes have to now set aside at least 1% of their total annual budget as innovation fund, to fund and support new innovations and start-ups. Institutes need to create pre-incubation and incubation facilities which are available 24×7 for students and other faculty of all disciplines. Government is also planning to rank all the educational institutions and universities on the basis of – promotion of innovation and entrepreneurship development.
The guidelines of “The National Students and Faculty Startup Policy 2019” was issued by MHRD (Ministry of Human Resources Development) on September 11th, 2019. Students and Faculty will be allowed licensing of IPR from the institute and will be allowed to work part-time for the startups during study.
Policy Framework:
Pic Source:Google
India aspires to be a trillion Dollar Industry :
HRD minister Ramesh Pokhriyal, launched the startup policy framework in the presence of MoS for HRD Sanjay Dhotre. “As India aspires to be a 5 trillion dollar economy by 2024, the country needs to emerge as global innovation, entrepreneurship and start-up hub” says Pokhriyal.
The ministry, along with the policy framework, launched the ARIIA (Atal Ranking of Institutions on innovation achievements. This ranking system aim to a direction to Higher Education Institutes towards gathering and establishing a strong startup eco-system in campus. Measuring innovation and startup ecosystem based on inputs, process and output parameter and uplifting India’s ranking from 57th spot to one among the first 30 spots in five years in the global innovation index.
Edited By : The World Women News
