Innovation and Entrepreneurship culture of a country is often regarded as a greatest national advantage in an increasingly competitive world. Innovation infrastructure includes Universities & Colleges, Research Institutions, Laboratories and Startup companies. The quality of such E&I ecosystems has attracted many of the world’s best and brightest people to pursue careers in R&D, innovation and entrepreneurship in such countries. Many of them become leaders and entrepreneurs across these nations – creating cutting-edge innovative products and services and building great companies. As nations compete with each other for leadership in innovation, Colleges and Universities are doing their part to maintain this leadership and to nurture more innovation, create processes and programs to commercialize innovations and promote entrepreneurship as a viable career path for students. Universities use different approaches to encourage innovative thinking.
Taking note of the Vision 2023 statements of the Government of Tamil Nadu, the Entrepreneurship Development and Innovation Institute, has launched a comprehensive program ie. Innovation and Entrepreneurship Development Program (IEDP) for entrepreneurship and innovation development for all Colleges, Polytechnics, ITIs, etc.
Objectives of IEDP would be as below:
Create a positive and dynamic Entrepreneurship & Innovation ecosystem within and around higher educational institutions
Build entrepreneurial and innovation competencies of faculty, students and alumni
Support growth and graduation of new high impact enterprises of students, alumni and people
Incentivise and support creation and commercialisation of intellectual property.
The Program is founded on three important process:
• i) College Entrepreneurial & Innovation Ecosystem Development Processes • ii) Faculty & Student Entrepreneurship Competency Development Processes • iii) Faculty and Student Innovation Promotion Processes