The IEDC of Pondicherry Engineering College offers Incubation of start up companies within the campus with the support of Ministry of Micro,Small and Medium Enterprises (MSME), Government of India . It aims to assist and enable young entrepreneurs to initiate technology startup companies for commercial exploitation of technologies developed by them.The IEDC network with Angel Investors and Venture Capitalists who provide mentoring and financial support to the startups and enable tenant companies to mature over a period of 2-3 years and ultimately graduate to a commercial place to transact actual business.
The main objective of Incubation is to promote emerging technological and knowledge based innovative ventures that seek the nurturing of ideas from students. Such entrepreneurial ideas have to be fostered and developed in a supportive environment before they become attractive for venture capital. Hence the incubation centre promote and support untapped creativity of individual innovators and assist them to become technology based entrepreneurs. It also seeks to promote networking and forging of linkages with other constituents of the innovation chain for commercialization of their developments.
Objectives of Incubation Facility :
- Promote product oriented research and development
- Encourage and accelerate development of indigenous products and packages
- Bridge the gap between R&D and commercialisation
- Facilitate entrepreneurial training and IPR facilitation
- Promote involvement of faculty in startup activities
- Ensure interaction between education and industry
- Alignment of education with exact market demands
- Active involvement of the faculty in the technology start-up activities
Application form of Entrepreneur/Incubatee for financial Assistance :