Higher Education

Higher Education

Premier institutes not collaborating, need to tie fundings: AICTE chief

PUBLISH DATE 7th June 2019

He also called for summer collaboration by faculty and students of these institutes to help create “new generation of entrepreneurs and start-ups”.

He also said that as part of the start-up policy of the Union government, electives in the area of entrepreneurship — be it creation of business plan, in terms of market survey, economy, how to go ahead with product development to actually getting funding and then starting the entrepreneurship research — are being encouraged.

Also, this year, as part of the two-year management programme, a new discipline on innovation entrepreneurship and venture development has been launched, he said. The two-year masters programme — whether MBA or post-graduate diploma programme in management — will empower the business graduates to launch start-ups and not look for multinational jobs, Sahasrabudhe added.

According to him, in the last five years, as many as 244 large start-ups were given Rs 1,561 crore out of Rs 10,000 crore fund that was created by the government. “So, the utilisation is much less then what is projected. A total 18,861 start-ups have been formally registered. That number is okay but it is not as much as our expectations. The number of jobs created by them are 5.60 lakh, but our expectation is hundred fold — definitely 5 crore jobs could be created by start-ups alone,” he said.

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