Nehru Group of Institutions (NGI) has received a grant of ₹2.87 crore from National Science and Technology Entrepreneurship Development Board (Nstedb), Department of Science and Technology, Government of India for implementation of New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC).
The management has contributed ₹1. 5 crore to take the total to ₹4.37 crore.
S Prakash, Director - Research, NGI told BusinessLine that the NewGen IEDC programme would support more than 100 student innovative projects, which are multi disciplinary in nature and executed by students. NGI would support every student team with technical and financial assistance to the tune of ₹2.5 lakh per project for one year.
The aim of this programme is to promote knowledge-based, technology-driven start-ups in engineering, pharmacy, biotechnology and micro biology. With the establishment of this centre, students and faculty would be encouraged to convert their business ideas into commercial or social ventures.
The centre would motivate, support and mentor students to identify, develop and commercialise their innovative ideas, he said