In recent years, entrepreneurship has become a global dream for young graduates, but only a handful appreciate the significance of entrepreneurship and challenge themselves to turn their dreams into reality. Entrepreneurship is the outcome of self-confidence, skills, creativity, thoughts, innovation, and desire to be a master of one's own decisions. It brings novel solutions to old problems, generates job opportunities for skilled people, and brings competition to produce top quality products and services. It is a vital source of income for the government and impacts the social order with leadership skills. Innovative products and services developed by entrepreneurs can produce a rippling effect, where it triggers related business sectors that need to support the new start-up/venture, further strengthening economic development.
The NorthCap University believes that academics and innovation go hand in hand with full communal and financial benefits. The University established an in-house Incubation Centre in April 2017. The purpose of establishing the Incubation Centre is to help students nurture innovative ideas through facilitating skills like Creative Thinking, Problem Solving, and Data Generation. The vision is to provide a research-based platform for incubation across disciplines so that NCU students are able to innovate and invent software solutions and applications and use their full potential to meet their entrepreneurial dreams, thus, ultimately serving the industry and the society. Several projects by students are in the pipeline and different phases of development. Further, the University has also earmarked Vice-Chancellor's Innovation Fund of Rs. 10 Million to encourage innovative research and start-ups.
The Incubation Centre is supporting various projects in the form of guidance, mentoring, seed funds, and infrastructure. The projects that are under development stage were displayed to eminent people from academia and research, such as Prof. B.K. Kuthiala, Chairperson, Haryana State Higher Education Council, Shri A.S. Kiran Kumar, Padma Shri, Former Chairman, ISRO, and top management of the University. They appreciated the initiatives taken by the Incubation Centre and gave valuable insights on improvisations in the projects.MHRD's Innovation Cell has also recognized the NorthCap University Incubation Centre, Govt. of India, for establishing the Institution Innovation Council (IIC) for the year 2019-20. The University has also taken various initiatives to promote start-ups and entrepreneurship among students by organizing innovation and entrepreneurship awareness sessions to cultivate a start-up ecosystem. The Incubation Centre also signed an MOU with UIncept - a start-up incubator and accelerator to support entrepreneurs in building great enterprises through mentorship, infrastructure, and a network of potential investors and aiding government institutions. The University has also initiated a Startup Program in October 2019 envisaging students and alumni to learn how to build real-time projects and solve business challenges in a viable manner. Shri Avtar Singh, CEO, and Co-founder of IntelliOut.com is consistently guiding and assisting the shortlisted projects of the Startup Program for their successful implementation and market launch.
The NorthCap University firmly believes and endorses the thought, "Entrepreneurship is living a few years of your life like most people won't, so that you can spend the rest of your life like most people can't."
by Ms. Kanika Gupta
Dept. of Computer Science and Engineering
The NorthCap University