TechnoparkToday.com(Feb, 2015): The government of Kerala is stepping up its flagship “Startup Bootcamp” programme hoping to reach nearly 20,000 college students across the state through Innovation and Entrepreneurship Development Cells (IEDC) inside campuses.
Chief Minister Oommen Chandy will formally inaugurate the Startup Bootcamp initiative at the Model Engineering College in Thrikkakkara, Ernakulam at 11.30 am on Saturday, February 21, in the presence of Minister for Industries and IT Shri P K Kunhalikutty, who will hand over the first tranche of financial assistance to the bootcamp to the college.
The Technopark-Technology Business Incubator (T-TBI), the designated nodal agency for implementing Kerala government’s entrepreneurship and innovation-related projects, is overseeing and supporting the establishment of IEDCs in educational institutes.
Kerala’s entrepreneurship building efforts are being further strengthened with the introduction of a new seed funding assistance scheme by the Kerala State Industrial Development Corporation (KSIDC). It offers much-needed seed capital to student start-ups to help get them up on their feet.
The Investment Committee of the KSIDC has identified four innovative proposals that will be initially accorded financial assistance under the scheme. KSIDC Chairman Shri T K A Nair will hand over the formal sanction letter to the first four beneficiaries in the presence of the Chief Minister and other dignitaries at the function on Saturday.
The bootcamps will lead entrepreneurship activities in the respective institutes and serve as launchpads for business ideas emerging out of colleges.
IEDCs registered with the T-TBI will be designated as Startup Bootcamps and their day-to-day operations will be managed by a seven-member executive committee including a Chief Executive Officer, Chief Operating Officer, Chief Financial Officer and Chief Technology officer — all of whom will be students from the institute. The executive team will be supported by class representatives and the operations supervised by a staff member or the principal.
Students will be able to plan and implement industry-institute linkages through these IEDCs. Also, individual students or groups that come up with product innovation or business ideas will be given guidance on how to set up a startup venture in Kerala.
The Government of Kerala has allocated Rs 3.95 for the Startup Bootcamp scheme. Kochi-based incubator Startup Village is facilitating mentorship and support for these bootcamps. Startup village has prepared a detailed schedule of activities for the bootcamps which it plans to launch next month.
T-TBI is hoping that the experience of setting up and running an IEDC in their college will give the students hands-on experience in nurturing innovation and handling entrepreneurship-related activities.