IIT-Delhi announced on Monday that it would provide reservation, funding connects, and mentorship possibilities to entrepreneurs, students, and teachers from India and bordering countries to set up startups.
The motive behind the move is to make the institute a global startup destination. With a nurturing startup culture, IIT Delhi will become a preferred destination for aspirants in India, and bordering countries. The move also bridges the gap between entrepreneurship and research.
While celebrating its diamond jubilee, IIT Delhi added that it would establish a world-class center for entrepreneurship. It would also increase the engagement with the startup ecosystem (1).
IIT Delhi aims to create a one-stop-shop for entrepreneurs by providing the necessary resources.
IIT Delhi aims to create a one-stop-shop for entrepreneurs by providing the necessary resources. It includes providing workspaces cloud storage, processing power, faculty mentoring, alumni mentoring, networking with funders, and more.
As per underlined in its new vision document, IIT Delhi wishes to tighten the links between research, technology, development, and commercialization via startups. The institute aims to nurture startup culture through its faculty and students. It also wants to focus on its outreach mechanism to invite alumni to partner with the institute.
Alumni can partner with the institute to launch their startups as well with the move. IIT Delhi further stated that it would make a competitive model for an equity stake in incubating the startups. It would diversify the income source of the startups in the long run.
The institute has produced several unicorns like e-commerce leader Flipkart in India and abroad. The Delhi campus has incubation facilities, and it would give a big push towards its focus on nurturing startup culture.
IIT Delhi further added that it would expand its networking and mentorship opportunities for students via organized guest lecturers from successful alumni. The would streamline the course and would also offer various academic units in the institute and external sources.
The institute would also deliver “end to end” training on entrepreneurship. It includes prototyping to product development, running operations, and fundraising.