Aims at facilitating technical innovation within institution
TIRUCHI: ‘Ideas Challenge’ a competition conducted recently by the Entrepreneurship Cell of the National Institute of Technology – Tiruchi, in association with the TREC-STEP, witnessed engineering students coming up with inventive ideas and designs conforming to the parameters of technical feasibility, socio-economic relevance and viability.
The students’ inventive thoughts included ideas like artificial chlorophyll, image based search engine and voice-operated television, reflecting the raised benchmark for creative minds in the country.
The purpose of the competition was to facilitate technical innovation within the institution.
According to the organisers, the top ten entries will be given certificates from the Central Government, and cash prize amounting to Rs. 10,000.
The contestants will work during summer to develop their ideas into a more concrete and detailed plan.
Subsequently, they will send proposals for obtaining the monetary grant for the project to the Department of Science & Industrial Research, New Delhi.
For micro-level incubation, Rs. 75,000 will be provided for prototyping, and for large-scale project, funding up to Rs. 15 lakh will be given.
By January 2010, the ideas will transform into products; with a formidable business plan, the product will be launched into the global market.
‘Meeting of minds’
Terming the event a ‘meeting of minds’, R.M.P. Jawahar, Executive Director of TREC-STEP, and Chairman of ISBA (Indian STEPS and Business Incubators Association) said innovation sprouts from the urge to do things differently.
Though a developing country, India spends enormous amount of money on promotion of innovation and entrepreneurship with the hope of benefiting the society and economy in the long-term, said Mr. Jawahar.
Incubation Manager, Ideas Challenge, Geetha and the in-charge of TePP (Technopreneur Promotion Programme),
Subayya provided the mentoring support to 60 students.