Entrepreneurship Development Cell

A STUDY OF WORKING OF ENTREPRENEURSHIP DEVELOPMENT CELL IN ENGINEERING COLLEGES

Entrepreneurship Development Cell

1. Entrepreneurship Development Cell is being promoted in educational institutions to develop institutional mechanism to create entrepreneurial culture in Science &Technology academic institutions. This research was model building exercise for Entrepreneurship Development Cells.

2. India is one of the most intimidating business environments for first generation entrepreneurs

3. Small scale industries serve as seed beds of entrepreneurship. Small scale industries contribute significantly to the strengthening of industrial structure, various products can be produced economically on a small scale. They offer the most promising means of promoting entrepreneurship among the people from the different walks of life, especially those with limited financial resources and limited technical and managerial experiences, thus establishing a wide base for rapid industrialization.

4. The persons who will set up small industry units have to come from within the country and the community they are local in the true sense and their success has a much greater impact on generating the right climate for successful entrepreneurship.

Objectives of the EDC

1. To act as an institutional mechanism for providing various services including information on all aspect of enterprise building to budding S&T entrepreneurs.
2. To create Entrepreneurial culture in the Parent Institution and other institutions in the region and to promote the objectives of Bright, including programmes related to women and weaker sections of the society.
3. To foster better linkages between the Parent Institution, Industries and R&D institutions in the region and other related organizations engaged in promoting Small & Medium Enterprises (SMEs) and Non-Government Organizations (NGOs).
4. To catalyses and promote development of S&T knowledge-based enterprises and promote employment opportunities in the innovative areas.
5. To respond effectively to the emerging challenges and opportunities both at national and international level relating to SMEs and micro enterprises.

Proposed Functions of EDC

1.To organize Entrepreneurship Awareness Camps, Entrepreneurship Development Programmes and Faculty Development Programmes in the region for the benefit of S&T persons.
2. To develop and introduce curriculum on Entrepreneurship Development at various levels including degree/diploma courses of the parent institution and other institutes in the region.
3. To conduct research work and survey for identifying entrepreneurial opportunities (particularly in S&T areas and service sector).
4. 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.
5. To organize guest lectures, TV & Radio talks, Seminars, etc. for promotion and growth of S&T based entrepreneurship.
6. To arrange visits to industries for prospective entrepreneurs.
7. To extend necessary guidance and escort services to the trainees in obtaining approval and execution of their projects.
8. To act as a Regional Information Centre on business opportunities, processes, technologies, market, etc. by creating and maintaining relevant data bases.
9. To provide testing, calibration, quality assurance, design, tool room, pilot plant and other facilities for entrepreneurs besides expertise in intellectual property rights, patents search, etc.
10. To render advice to sick enterprises and assist the entrepreneurs in rehabilitating them.
11. To conduct skill development training programmes leading to self/wage employment

Criteria for selection of an Institution to set up EDC

1. The institution should be a University/deemed to be University or a premier Institute/College offering Engineering, Technology, Science & Management courses at degree level or above for at least 5 years. In case of a college/institute, it should be duly recognized and affiliated and while in case of the private institutions, it should be promoted by a Trust or a Society registered under relevant Acts.

2. The College/Institute should have necessary accreditation by NAAC, AICTE, UGC etc.

3. Qualified and dedicated faculty in various disciplines with a good Research & Development base and industry related activities.

4. At least two faculty should have been trained through Bright sponsored FDPs.

5. Adequate space for locating the Cell including the modifications proposed to be carried out in the building, utilities like electricity, water, telephone installation and internet connectivity.

6. Availability of workshops, laboratories and computational facilities.

7. Library with a good collection of books and journals and Experience in Entrepreneurship Development and Promotion and Industry related activities such as Consultancy, Product Development, Testing, Calibration, etc.

Status of the EDC

1. The EDC should function as a separate entity within the Parent Institution. It should function as a Central Facility of the entire institution and not as a facility for a particular Department of the parent institution.

2. The EDC should enjoy independent administrative and financial status for ensuring effective and speedy implementation of various programmes and activities of the Cell/Centre.

3. It should have effective linkages with various Departments, Centre’s and other facilities of the institute to bring about entrepreneurial culture for optimal utilization of the expertise, resources and know-how available. It should network with other agencies involved in entrepreneurship development.

Funding mechanism & financial guidelines

1. The Colleges would provide financial assistance to the institution selected for establishment of ED Cells, for meeting the recurring expenditure (Manpower Cost, Travel, Training and Contingencies, etc.) of the EDC, for up to five full operational years. However, the financial assistance from Colleges would be available in the project mode on a year-to-year basis, based on successful implementation of the EDC project.

2. The Colleges would also provide limited one time non-recurring financial assistance, up to a maximum of Rs.5.50 lakh, required for the purchase of PC with printer, UPS, library books, journals, laptop, photocopier, multimedia projector, office communication equipments like fax, scanner etc.

3. The parent institution should provide adequate building space for setting up of EDC and also usage of other facilities like office equipment, furniture, classrooms for training, conference room, library, workshops, laboratories, etc. to the EDC for its activities.

4. The recurring budget will be provided each year of operation for a maximum of five years, subject to the performance being satisfactory. The activities of EDC would be reviewed annually. The various budget heads under which funding is provided are university.

Financial discipline and guidelines

1. The EDC will maintain a separate saving bank account in a scheduled bank which will be jointly operated by the Head of the ED Cell/Centre and a person to be nominated by Head of the Institution.
2. The grants-in-aid shall be credited to this account and will be utilized solely for the activities related to the EDC.
3. All other 7 financial receipts/funds received by the Cell/Centre will be credited to this account.
4. Surplus funds and revenue earned should be credited to Corpus Fund to continue the activities of ED Cell beyond the project life (maximum five years). However, Bright funds should not be used to create the corpus.
5. All payments by the ED Cell/Centre should be authorized by the Head of the EDC.

Organizational requirements

The EDC will function under the guidance and control of the Head of the Parent Institution. Its activities will be monitored by an Advisory Board and a Management Committee.

1. Advisory Board :
Head of the Institution (Chairman)
Senior faculty members from related departments of the Institution
Representative of Directorate of Industries
Representative of Lead Bank

2. Management Committee :
Head of EDC
Coordinator members

BENEFITS FROM EDC

1. No. of students trained and launched successively as Entrepreneurs.
2. No. of outsiders trained and launched as Entrepreneurs.
3. No. of persons trained and thereby made self-wage/employed.
4. No. of persons of special groups trained including persons from industry.
5. Training imparted to existing entrepreneurs.
6. No. of projects reports prepared.
7. Products, processes and technologies developed.
8. No. of enterprises launched.
9. No. of sick units assisted Any other relevant activities taken
10. No. of consultancy jobs undertaken.

INTANGIBLE Benefits

1. Introduction of entrepreneurship in academic curriculam.
2. Creation of awareness through EACs. Interaction and linkages established.
3. Case studies, survey reports and other databases prepared.
4. Seminar and conferences organized.
5. No. of paper/articles published.
6. No. of lectures/talks/radio and TV interviews arranged.
7. Information services offered.

Process of EDC

1. Process for submission of application for setting up of an EDC
2. Start the training, seminar and Project Management
3. Evaluation, Performance guidelines and reporting
4. Project Management and year-wise deliverables for EDC
5. Help of funding
6. To prepare for the model elective course on entrepreneurship to be introduced from 3rd year level onwards.
7. To generate revenue of one to two lakh through training programmes/other activities.
8. To promote minimum 20 entrepreneurs with proper follow-up and documentation of such entrepreneurs, and details of their enterprises together with the role of EDC in promoting them.
9. To conduct Faculty Development Programme to develop trained persons in other areas of Entrepreneurship

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