• To encourage Entrepreneurship and innovation
• The center will incubate up to 10 projects each year
• Each project will be executed by a team of entrepreneurs (students or alumni )
• Each project will get a funding of upto Rs. 3 lacs
• The program will cater to the projects that solve problems and find solution to local needs (district and state) rather than global problems and needs.
• The problem can be from any discipline but one should provide an IT solution to the selected problem
SALIENT FEATURES
Entrepreneurship in India is on the verge of explosive growth. Angel investors, venture capital, media, startup clubs, service providers, mentors and training companies are going to grow. And one important cog in the wheel is the incubator – the place where startups are born. When a baby is born, he/she is kept in the incubator for first few hours and maybe days – this gives them a chance to adjust to outside environment, and grow stronger before they face the outside world ! In a similar way, a startup is incubated in Incubation Center, which gives them a chance to bring their business in shape, before they reach out to the world.
The growth path of IT industry in Karnataka and more specifically in Bangalore is only looking better and wider. After witnessing phenomenal growth in last two decades, IT continues to grow its share both in revenue and job creation, better than any other industry in Karnataka and any other state in IT sector. Department of Information Technology, Government of Karnataka plans to double the job creation by IT by 2020. Siddaganga Institute of Technology is one among to the Nine Engineering college to be identified to set up incubation center to promote Entrepreneurship and innovation.