POLICY FOR INNOVATION AND ENTREPRENEURSHIP DEVELOPMENT CENTRE

MUTHOOT INSTITUTE OF TECHNOLOGY AND SCIENCE

Innovation and Entrepreneurship Development Centre (IEDC)

The Innovation and Entrepreneurship Development Centre (IEDC) is being promoted in educational institutions to develop institutional mechanism to create entrepreneurial culture in S&T academic institutions and to foster techno-entrepreneurship for generation of wealth and employment by S&T persons. The IEDCs are established in academic institutions (science colleges, engineering colleges, universities, management institutes) having requisite expertise and infrastructure.

The mission of the IEDCs is to "develop institutional mechanism to create entrepreneurial culture in academic institutions to foster growth of innovation and entrepreneurship amongst the faculty and students".

Objectives of the IEDCs:

  • To act as an institutional mechanism for providing various services including information on all aspects of enterprise building to budding S&T entrepreneurs.

  • To create Entrepreneurial culture in the Parent Institution and other institutions in the region and to promote the objectives of NSTEDB, including programmes related to women and weaker sections of the society.

  • To inculcate a culture of innovation driven entrepreneurship through student projects.

  • To catalyse and promote development of S&T knowledge-based enterprises and promote employment opportunities in the innovative areas.

  • To respond effectively to the emerging challenges and opportunities both at national and international level relating to SMEs and micro enterprises.

Functions of IEDCs:

  • To organise Entrepreneurship Awareness Camps, Entrepreneurship Development Programmes, Faculty Development Programmes and Skill Development Programmes in the college/institution for the benefit of S&T persons.

  • To 1n1tiate five innovative student projects each year for new innovative product development.

  • To organize Business Plan Competitions every year.

  • 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, information on technologies, etc.

  • To arrange interaction with entrepreneurs and create a mentorship scheme for student entrepreneurs.

  • To facilitate creation of entrepreneur's club in each college to foster culture of entrepreneurship amongst students.

  • To act as a Regional Information Centre on business opportunities, processes, technologies, market, etc. by creating and maintaining relevant data bases.

  • IEDCs would also sensitise the management of the institutions regarding the importance of entrepreneurship and integrate their activities with the Host Institutions.

Terms and Conditions under which IEDC is working are mentioned below.

  1. Muthoot Institute of Technology and Science will work to spread the message of Innovation, Incubation and Entrepreneurship among students in the college/region.

  2. Muthoot Institute of Technology and Science should ensure delivery of their roles expected from IEDC under the Startup Boot camp initiative/ (Youth Entrepreneurship program)YEP of Government Of Kerala, before implementing any policy decisions related to the centre.

  3. There will be annual review of the activities and progress of the IEDC, and the centre should submit an Activity report to this effect.

  4. The IEDC of Muthoot Institute of Technology and Science will continue to be under the mentoring of Kerala Startup Mission and report to Kerala Startup Mission, its progress till such time when the college gets recognized by the Department of Science & Technology as an approved IEDC under the National Science and Technology Entrepreneurship Development Board.

  5. The Financial assistance can be used for Conducting workshops, seminars, Makathons, Hackathons and other such Entrepreneurial Activities which may be helpful for the IEDC centre.

  6. The assistance may not be used for sponsorship, infrastructure creation, advertisements and PR activities.

  7. Rough Outlay of the utilization may be like

  • Capex: 15%

  • Travel : 10%

  • Incidental/ Miscellaneous :10 %

  • Conducting & Participation (Maker session, Events, Workshops and Seminars) : 60%

  • Marketing : 5%

  1. The IEDC/EDC/TBI shall function as independent unit within the parent institution.

  2. The funds for the Startup boot camp shall be disbursed from T-TBI through the IEDC to the Bootcamp .The funding will be capped at an amount of Rs 2 lakhs and shall be against an equal investment by the institute. An account will be maintained separately by the IEDC.

  3. The fund utilization report will be prepared on a quarterly basis by the boot camp EC in consultation with the IEDC nodal officer and shall forward it to Kerala Startup Mission.

SUGGESTED MODEL FOR FUND UTILIZATION

Organize min 10 programmes Phase I (not more than 1 lakhs / year )

  1. Honorarium to the speaker 2500-10000

  2. Programme coordinator 1500

  3. Collect Rs 15 as registration fee from students

  4. Prepare the report

  5. Give news Coverage

  6. lnvite your superiors for inauguration

  7. Organize the programmes on holydays

  8. Develop a peer team

  9. Make good student team to organize the programme

  10. 2 or 3 programmes may be hands training programmes

Organize frequent meeting on holidays or free hours. For the selected students from phase 1 (not more than 50000)

  1. Select fifty students

  2. Duration 1 to 1.5 hrs

  3. Call small innovators

  4. Spend upto Rs 2000/per programme

  5. Organize min 15 such programmes

  6. Honorarium 250/- for the coordinator per programme

Industrial visit( not more than 20000)

  1. Maximum 7 members

  2. No sight seeing

  3. Min 2 Industries have to visit in one day

  4. Can spend 3000/per programme

  5. Cash should be spent only for TA

  6. One brain storming after each visit by the members

  7. Min five programmes

Prototype development (not more than 20000)

  1. Maximum of 5000/per project

  2. Min. Three student and a teacher is required

  3. Teacher is responsible for the money

  4. Maximum of five projects

  5. Project should be innovate

  6. Have to be select through a defined process

  • Have to invite application

  • Make panel for evaluation and presentation

  • Final selection is through presentation only

Project contest (not more than 10000)

  1. TA for students

  2. Only TA not food

  3. Accommodation for students & Teachers

  4. Maximum of 5000

Documentation charge: Max. 5000

Other Expenses: 5000

Honorarium to the nodal officer: 10000

Special Programs of KSUM

  1. Creating lot Space < 45000

  2. EDI workshop < 25000

Events organized by IEDC MITS (TILL AUDIT, 15/01/18)

Sl. No.

EVENT

Venue

College/State/National level Event

No of Participants

Date

1

One day workshop on “Ideation to Transformation” by Prof. R Pradeep Raj

Muthoot Institute of Technology and Science, Varikoli

College level

60

06-08-2016

2

One Day Entrepreneurship Training by OUREA Training Hub

Muthoot Institute of Technology and Science, Varikoli

College level

60

15-08-2016

3

Talk on “ How to build a real startup and Experience Silicon Valley While still in College” as part of the Start in college Campaign of Startup Village by Mr.SijoKuruvilla

Muthoot Institute of Technology and Science, Varikoli

College level

120

16-08-2016

4

Orientation Programme to Nodal Officer’s and Conclave” by Kerala Startup Mission

Muthoot Institute of Technology and Science, Varikoli

State level

30

30,31-10-2016

5

Webinar on Ethical Hacking

Muthoot Institute of Technology and Science, Varikoli

College level

34

03-04-2017

6

Introduction to robotics workshop by IEDC MITS

Muthoot Institute of Technology and Science, Varikoli

College level

42

22-04-2017

7

Intoduction to robotics workshop by IEDC MITS

Muthoot Institute of Technology and Science, Varikoli

College level

42

25-07-2017

8

Presentation and Interactive Session by Maker Village

Muthoot Institute of Technology and Science, Varikoli

College level

86

28-07-2017

9

Workshop on android development by IEDC MITS

Muthoot Institute of Technology and Science, Varikoli

State level

24

13-08-2017

10

Half Day Entrepreneurship Orientation Boot Camp by Kerala Startup Mission and Openfuel

Muthoot Institute of Technology and Science, Varikoli

College level

70

18-08-2017

11

Two-Days Hands-on Workshop on Machine Learning with R-Programming’ by ED Cell IIT Roorkey

Muthoot Institute of Technology and Science, Varikoli

National level

39

25,26-08-2017

12

Android Application Development with Android Studio IDE in association with ACM Student Chapter MITS

Muthoot Institute of Technology and Science, Varikoli

State level

50

8,9-09-2017

13

Introduction to robotics workshop by IEDC MITS

SNIMT , Maliyanakara

State level

40

23,24-9-2017

14

Logo and slogan competition

Muthoot Institute of Technology and Science, Varikoli

College level

20

01-10-2017

15

Workshop on c++ programming by IEDC MITS

Muthoot Institute of Technology and Science, Varikoli

State level

22

7,8,-10-2017

16

Idea competition

Muthoot Institute of Technology and Science, Varikoli

College level

28 teams

18-10-2017

17

IEDC Orientation Program for students by IEDC MITS

Muthoot Institute of Technology and Science, Varikoli

College level

Entire College

09-10-2017 to 13-10-2017

18

"RoboRave India 2017" National level competition organized by IEDC MITS and Shristi Robotics jointly with ROBORAVE International

Muthoot Institute of Technology and Science, Varikoli

National level

400

4/5-11-2017

19

#INNspire2.0 by Aabasoft and Openfuel organized by Innostack at Muthoot Institute of Technology & Science

Muthoot Institute of Technology and Science, Varikoli

College level

100

12/01/2018

20

IC Engine Ovehaulling Workshop by Srishti Robotics

Muthoot Institute of Technology and Science, Varikoli

College level

11

11/02/2018

21

DISHA

Muthoot Institute of Technology and Science, Varikoli

College level

150

28/02/2018

22

February Funding

Muthoot Institute of Technology and Science, Varikoli

College level

25

28/03/2018

23

Talk by Mr. Sijo Kuruvilla George about Rethink

Muthoot Institute of Technology and Science, Varikoli

College level

45

21/03/2018

24

2 Day Workshop on Python

Muthoot Institute of Technology and Science, Varikoli

College level

29

26,27/03/2018

25

Technovation 17-21

Muthoot Institute of Technology and Science, Varikoli

College level

20

May,June 2018

26

Talk on Entrepreneurship by Ms.Chandra Vadhana R

Muthoot Institute of Technology and Science, Varikoli

College level

48

08/08/2018

27

Two day leadership camp at MITS by PRAYAANA HUB

Muthoot Institute of Technology and Science, Varikoli

State Level

50

11,12/08/2018

28

Two-Days Workshop - 'Burn a custom ROM with Android OS’

Muthoot Institute of Technology and Science, Varikoli

State Level

10

20, 21/09 2018

Events participated by IEDC MITS (TILL AUDIT, 15/01/18)

1

Three Days National Workshop on Entrepreneurial Skills & B-Plan Competition

Mohandas College of Engineering and Technology, Trivandrum

State Level

5

13,14,15-07-2016

2

IEDC Student Co-ordinators Meet up( Precursor to IEDC Summit)

SNGCE,Kadayirippu

State Level

2

13-08-2016

3

One day workshop on “Starting a Startup” by Kerala State Productivity Council in Association with MIROSI

Productivity House,Kalamassery

State Level

2

17-08-2016

4

IEDC Summit 2016

Girideepam Convention Centre,Trivandrum

State Level

10

23-08-2016

5

Entreprenia, a workshop for promoting entrepreneurship culture

NSS, Palakkad

State Level

10

24,25-09-2016

6

Launch of Bosch’s idea competition

Maker village, Kalamassery

State Level

6

20-10-2016

7

I2P Maker’s Workshop product launch and IPR class by APJ Abdul Kalam Technological university in Association With FISAT Centre for Innovation Incubation and Entrepreneurship

FISAT,Ernakulam

State Level

2

22-10-2016

8

The idea competition [Technovate] in the techfest Deja vu

Heera College Of Engineering And Technology, Trivandrum

State Level

2

27,28-10-2016

9

Two Days Entrepreneurship Development Programme on “Solar Energy”

Hotel Aiswarya,Pallimukku,Kochi

State Level

2

12,13-11-2016

10

Tiecon 2016 [Entrepreneur’s meet] by KSUM

Le Meridian.Ernakulam

State Level

1

18,19-11-2016

11

The BIG PITCH Incubation Contest

Christ University, Bangalore

State Level

5

25,26-11-2016

12

IEDC Nodal Officers Meetup

Kerala Technology Innovation Zone , Kalamassery

State Level

1

24,25-03-2017

13

Pre IEDC Meetup (Precursor event)

Adi Shankara Institute of Engineering & Technology

State Level

2

05-08-2017

14

IEDC Annual Summit

Adlux Convention Centre, Karukutty

State Level

15

19-08-2017

15

YES Summit

Le Meridian Convention Center,Cochin

State Level

4

12-09-2017

16

3D Printing Workshop

Trinity College of Engineering

State Level

5

04,05-11-2017

17

YUVA MASTERMIND 2018( Autonomous Baby Walker)

Kollam

State Level

4

08,09,10-01-2018

18

Shaastra 2018

IIT Madras

National level

80

04-01-18 to 07-01-18

19

Design Thinking Workshop For The Nodal Officers And Faculty

MES AIMAT, Aluva

State Level

2

12,13/02/2018

20

National Level hardware Conclave Meetup “HARDTECH KOCHI”

Gokulam convention Centre,Kochi

National Level

30

10/03/2018

21

DISHA 2018

Athulya Auditorium,Infopark,Kochi

State Level

1

10/03/2018

22

IEDC Summit 2018

AJCE,Kanjirappally

State Level

5

03/11/2018