A Guiding Framework for Higher Education Institutions
The Innovation and Startup Policy 2020 for students and faculty of Prince Shri Venkateshwara Padmavathy Engineering College (PSVPEC) will enable the Institution to actively engage students, faculty members and staff in innovation and entrepreneurship related activities. This framework will also spell out the terms for Intellectual Property ownership, technology licensing and institutional startup guidelines, thus enabling creation of a robust innovation and start up ecosystem across the Institution.
Prince Shri Venkateshwara Padmavathy Engineering College, Chennai aims to provide an enabling ecosystem for the students, faculty and staff of the college to harness their innovative potential, by smoothly integrating the technological and creative skills of all the stakeholders to solve the contemporary problems. The Centre for Innovative Research, Incubation and Entrepreneurship Development (CRED) at PSVPEC aspires to kick-start an entrepreneurial culture, and can be a catalyst which contributes to increased knowledge, wealth and employment for the state and the nation at large.
VISION: To establish a vibrant innovation and entrepreneurship ecosystem to develop indigenous and sustainable solutions for addressing the societal needs.
The 'Innovation and Startup policy' is a guiding framework to envision an educational system oriented towards start-ups and entrepreneurship opportunities for student and faculty members. The guidelines provide ways for developing entrepreneurial agenda, managing Intellectual Property Rights (IPR) ownership, technology licensing and equity sharing in Startups or enterprises established by faculty and students. This policy framework shall motivate the young minds to indulge in innovation and pursue the entrepreneurial path for developing thyself and the Nation as a whole. Moreover, this policy document will guide the Institutions to attain the Prime Minister’s vision of “Atmanirbhar Bharat”.
To establish vibrant and dynamic Startup Ecosystem across all the departments.
To enable the institute to actively engage students, faculties and staff in innovation and entrepreneurship related activities.
To create a space for Collaboration, Co-creation, Business Relationships and Knowledge Exchange.
To facilitate the institute in terms of Intellectual Property (IP) ownership management, technology licensing and equity sharing.
Long Term Objectives
To establish an innovation hub with world class pre-incubation facilities in collaboration with government funding agencies and ecosystem enablers.
To facilitate good number of technology transfers, technology licensing and commercialization of technologies developed by faculty and students .
To incubate successful student startups and business ventures.
To promote resources in innovation and entrepreneurship to improve the Atal Ranking of the institution.
Associate with DST, CII, MSME and other academic institutions for transferring world class facility for innovation activities.
Short Term Objectives
To help student groups to prototype their ideas.
To improve innovation, creative and design thinking among student community.
To organise hackathons and bootcamps in the campus.
To organize FDP, seminars and workshops, distinguish talks for students and faculty to promote entrepreneurial culture.
To connect academic process with innovation and entrepreneurship.