The Technology Business Incubator (TBI) of SRM University-AP has launched its first venture cohort with 36 selected start-up business ventures.
Head of Co-innovation and Outreach at IIIT-Hyderabad and former chief innovation officer of the Telangana State Innovation Cell (TSIC) Prof. Ramesh Loganathan provided insights into the scope and future of entrepreneurship in the country and across the globe. “The entrepreneurial journey should start with identifying the problems in the ecosystem. The face recognition software that started with the idea of capturing student attendance in colleges is a great example. Budding entrepreneurs should identify similar problems, take up a thorough market research and then prepare the business plan. The price of the product/idea should matter the last,” he said.
The university vice-chancellor V.S. Rao said from the beginning the university had been focussing on grooming students as entrepreneurs who could be the leaders of tomorrow. He said the university had signed an MoU with the University of California, Berkeley, to design the curriculum and promote entrepreneurship.
Prakash Jadav, head of the Innovation, Design and Entrepreneurship Academy (IDEA), established by the university as part of strategic alliance with the U.S. varsity to foster the culture of entrepreneurship in students, said it was exciting to see so many students submitting their business ideas in the first business cohort.
Out of the 62 teams comprising 192 students, which applied, 36 teams were selected to be a part of the RM TBI’s first cohort. The selected ventures will be mentored and supported for 12 months with infrastructure facilities, mentoring and networking support, seed fund and innovation fund support, hardware and software, industry connectivity, learning resources and market exposure among other things.
CEO, SRM TBI and associate director, Entrepreneurship, Udayan Bakshi and others were also present.
