Over 200 students from over 60 colleges showcased their innovative ideas to angel investors and industry experts at the fourth edition of the NES Ratnam College of Arts, Science and Commerce’s startup festival on Wednesday. The festival, organised by the entrepreneurial cell of the college, was held at its international school campus.
Dr. Arun Raaza, research and development director at VELS University, Chennai, highlighted the lack of commercially driven innovation in the country and expressed a wish to guide students in a special programme in collaboration with the college. “It is time that students should understand that innovation goes beyond the field of robotics and dive into other sectors as well that bring money to the economy. Students need to understand the value of intellectual property rights and getting their ideas patented,” he said.
Students’ ideas and products, such as a walking stick and cap to aid the visually impaired, foldable bikes, food banks in residential complexes, and battery operated cars, were on display at an exhibition area. The festival also had a section called the Idea Lab, where students put forward their ideas in front of industry experts and investors.
Dr. R Varadarajan, president of NES Group, said, “India is emerging as the hub of startup companies. This event will serve to boost these young minds towards an enterprising spirit and mentor them.”
The festival also aimed to provide students an avenue to take their ideas forward. Keval Ruparal, senior executive at the Indian Chamber of Commerce and an alumnus of NES International school, said, “We intend to select some startup ideas from students and take them on board in the upcoming startup summit that we are hosting on February 27 to help them build their networks with investors.”
According to a report by KPMG, Mumbai has the third largest startup base in the country and the highest number of startup registrations in 2018.