Efforts are on to help transform one per cent of the students into entrepreneurs by this year-end, according to Koneru Lakshmaiah University vice-president Raja Harin.
Speaking to the media here on Thursday, he said a few start-up companies were incubated at the KLU Incubation Centre. Fobble Drone Technologies launched by Gopi Raja, a third-year EEE student, won Rs. 1 lakh in the best idea category, he added.
Drone technology
“The drone technology is of great help to agriculture. To spray pesticide, farmers can use this machine that can cover a vast extent. These drones are also helpful for emergency medical needs,” he pointed out.
Mr. Harin said over 100 start-ups representing alumni of IIT, IIIT and other reputed universities and institutions from various cities took part in the fest.
“Getting the best idea award from among 8,000 participants is an encouraging feat. Thirty students attended the festival,” he said.
He said drone technology was making a gradual progress though there were no rules and regulations on its use in public places.
Mr. Harin said the university was giving 25 per cent attendance for students pursuing start-ups. “We are also appointing staff to help the students realise their goals,” he said.
Budgetary support
Vice-Chancellor L.S.S. Reddy said the university had approved a budget of Rs. 50 lakh for the financial year to incubate start-ups by students and stakeholders from the areas in the vicinity of the capital region.
“Some companies have orders worth Rs. 30 crore, which are under negotiation. We are offering facilities like office space, Internet and other infrastructural services,” he added. He said the Centre for Innovation and Entrepreneurship of KLU was established in 2013 to promote entrepreneurship and develop the ecosystem.
K. Rajasekhar, Director of Innovations, was present.
