About IIED Cell

Name:– Mr. Devendra A. Itole

Innovations, Incubation – Entrepreneurship Development Cell Coordinator

Designation: Assistant Professor

Qualification:- B.E. (E&TC), M.E. (E&TC), Ph.D. (Pursuing)

Experience:– 15 Yrs Teaching

Email:– devenmdra.itole@aissmsioit.org

Mob.No.- +91 9421173078

With increase in population, the number of students enrolled for professional courses has increased. Most of the students ideally expect to seek job opportunities in best companies, with best profiles and best pay packages. Most of the well-known, established companies are saturated with sufficient and suitable manpower required for the fulfillment of the projects available with them. New companies MUST be established to get more employment opportunities and absorb employable new aspirants.  It has become difficult for the new aspiring candidates to secure suitable job opportunities in reputed organizations as per their interest and choice of their domain knowledge. These aspirants end up in doing the jobs, which they never thought of, never wanted for. To overcome these debacles, students must do their SWOT analysis and choose their streams of education and career wisely. Entrepreneurship as a career option is the need of the hour and must be thought of at an earlier stages of education and career. To understand and meet the innovations, entrepreneurship challenges, we need to create an Entrepreneurship Ecosystem. The aspiring candidates with entrepreneurial potential must be a part of this ecosystem and must be incubated to learn the tricks of the trade/ entrepreneurial journey.

The main objective of this cell is to train and motivate the students to become Job Creator rather than Job Seekers.

Other objectives include:

1. To motivate, support and mentor students for identification, development and commercialization of their innovative ideas from conceptual stage to start ups.
2. To give opportunity to prospective students to bring out innovative ideas through competitions and brainstorming. Exploring innovative and creative thoughts, ideas, or concepts from students, research scholars, faculty members from various domains of society as well as industry.
3. To organize guest lectures, expert’s talks for start-ups and patents.
4. To organize the business plan completion/ innovation camps/ hackthons with active involvement of Industry.
5. To guide and assist prospective starts ups, entrepreneurs on various aspects of such as preparing project report, obtaining project approvals, loans and facilities from various government and nongovernment agencies of support system, information on technologies, etc.
6. To arrange interaction with entrepreneurs, bankers professionals, potential customers and create a mentor ship scheme for student innovators.
7. To facilitate creation of entrepreneur’s club to foster culture of entrepreneurship amongst the students.
8. To conduct the training programs on various aspects of entrepreneurship relevant to industries and need of society.
9. To develop mentor and counsellors.
10. To organize fares and exhibitions to exhibit the start-ups incubated in the College.
11. To nature innovators and their innovations.
12. To support researchers to prepare patent documentation and filling of patents.
13. To take affirmative action for the sustainable development of physically challenged and students from weaker sections of the society.

I) Pre-Incubation:

1. Orientation of IIEDC and allied activities to stake holders (Students , Staff etc)
2. Listing of interested stake holders (Students ,parents, Staff, industries etc)
3. Must visit all ED relevant organizations, incubation centers etc
4. Active participation of stake holders for IIEDC and allied activities
5. Must gain domain knowledge ,IPR, Marketing , Sales, Finance, Company registration, compliances etc and conduct mock / actual drives for the same
6. Inculcate habit of regular saving, necessary optimized utilization of funds/all resources and   reinvesting
7. Formation of Committees/Teams with Well Defined Roles and Responsibilities
8. Survey, Understanding the needs of Society/Industries /Stake Holders
9. Brainstorming

II) Incubation:

1. Identification of needs/gaps of Society/Industries /Stake Holders
2. Signing of NDA and an agreement for further developments with stakeholders/problem stators/Identifiers/Investors/Solution Demanders
3. Advance payment from stakeholders/problem stators/Identifiers/Investors/Solution Demanders
4. No Loans ,No Borrowing of funds on interest
5. Inculcate habit of regular savings of necessary optimized utilization of funds/all resources and Re – investing
6. Brainstorming and understanding the root cause/causes
7. Defining the problem statement
8. Presentation before the experts/advisory committee for suggestions and necessary approvals
9. Do the Feasibility check , constraints and resources
10. Planning of resources
11. Formation of Committees/Teams with Well Defined Roles and Responsibilities
12. Develop a proof of concept in association with stakeholders/problem stators/Identifiers
13. Create a prototype in association with stakeholders/problem stators/ Identifiers/ Investors/ Solution Demanders
14. Validate the prototype
15. Development of product/service or both ( on receiving P.O and full payment )

III) Start-Up:

1. Complete the procedures, compliances and Register a Startup
2. Formation of Committees/Teams with Well Defined Roles and Responsibilities
3. Follow Business Norms and Etiquettes
4. Produce/Serve that which has a market demand and can be sold easily
5. Be the Opportunities Vultures
6. Start by trading and B2B activities
7. Expand the business by associations with concerned organizations and business entities
8. Keep your customers satisfied and delighted
9. Get Repeat Orders
10. Do not have receivables , recover payments at earliest
11. Inculcate habit of regular saving, necessary optimized utilization of funds/all resources and Re – investing
12. Reserved funds to the EDC Ecosystem/facilitators/Mentors/Investors/Stakeholders. Keep the ecosystem alive for the successive, upcoming starups
13. Always be associated with the ecosystem, give valuable inputs, keep the ecosystem updated

Important Understandings/Norms/Rules:

1. IIEDC is an institutional Ecosystem for entrepreneurship development. It will just act as Facilitator and will not be subjected to Financial, Legal OR Any kind of Liabilities of the entrepreneurs/ startups/ Team members/ Business partners/ Industries / Investors/ stakeholders.
2. Stake of IIEDC/Mentors/stakeholders in the entrepreneurs ventures/startups will be from 2 to 9.5% of their overall turnover or profit share ,depending upon case to case basis or as approved by the IIEDC Panel/Committee.
3. IIEDC developed innovative projects/startups will share joint IPR (Intellectual Property Rights) and have stake in equity/shares.
4. Relief in attendance, paid sabbaticals, leaves, flexible Work Timings and geographical locations must be given for the teams working on IIEDC innovative projects/start-ups.
5. To bring and maintain socio-economic equality in our society/Nation, priority and due considerations will be given to the students/stakeholders of the weaker sections.
6. All students/staff, stakeholders will have to undergo test/suitable checks and follow due procedures before enrolling to IIEDC and exit from the same.
7. It is mandatory for all students/staff, stakeholders to observe, maintain silence, rules & discipline at IIEDC, College premises and all other relevant places and do not cause damages in any forms.

IIEDC Advisory Panel:

Institute Level IIEDC Committee:

The expected outcomes of the IIED Cell are: