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Need for Incubation Centre
Self-employment allows individuals to create their own job opportunities rather than relying on existing ones. Fostering self-employment and entrepreneurship in Mysore is essential for creating employment opportunities, empowering individuals, harnessing local resources, fostering innovation, and driving economic growth and development. By recognizing the importance of entrepreneurship and implementing supportive policies and initiatives, Mysore can unleash the potential of its people and build a prosperous and sustainable future.
The establishment of an incubation center in a city like Mysore addresses the diverse needs of startups and entrepreneurs, providing them with the support, resources, and opportunities they need to succeed. By nurturing a thriving ecosystem of innovation and entrepreneurship, an incubation center can contribute significantly to the economic growth and development of the city.
Entrepreneurship Activities
ED cell is constantly conducting awareness camps to deploy entrepreneurship skills among students under the aegis of National Science and Technology Entrepreneurship Development Board NSTEDB), Department of Science and Technology, Govt of India every year. The ED cell was successful in completing A ONE YEAR Open Learning Program in Entrepreneurship and Business Management, a Value Added Program for the Mysuru region and awareness camps sponsored by DST,GoI. ED cell of GSSSIETW conducted a 6 week Technology Entrepreneurship Development program on food technology and 3 weeks Entrepreneurship development program sponsored by Department of Science and Technology(DST) GoI exclusively for women.
Further to develop the startup ecosystem at GSSSIETW the institute signed MoU with ATAL Incubation centre –Jyothi Institute of technology foundation , Bangalore as a co –Incubate and many competitions like Idea innovation competition, business plan presentation competitions conferences, and workshops pertaining to entrepreneurship have been organized
To further enhance the start up ecosystem at GSSSIETW, ED cell submitted a proposal to DST to establish incubation centre with the motivation and encouragement from the Management under the National Initiative for Developing and Harnessing the Innovation (NIDHI) inclusive TBI scheme. The Institution has been recommended a grant of 3.75 crores from DST and GSSS Management Is Magnanimous to Contribute Rs 75 lakhs for setting up the incubation centre .The management of GSSSIETW is very considerate and supportive to encourage the students towards building the entrepreneur ecosystem and encourage women empowerment.
The outcome of the i-TBI shall be converting ideas into startups. Inclusive TBI would also create a culture of innovation & entrepreneurship in the Host Institution (HI) and nearby geographies. I-TBI will be equipped with grants-in-aid funding support to innovators to convert ideas to prototype and prototype to startups.