Center for Innovation and Entrepreneurship Development
The Centre for Innovation and Entrepreneurship Development has been formulated, keeping in view the vision of the Institute which strives to encourage entrepreneurship, and also inculcate the same values in the students. The centre aims to act as a platform to create an interface between academia, business and research. It also aims to prepare men and women of character to lead, innovate, and think entrepreneurially whether in business, ministry, or public service–to be role models and job creators, rather than just job seekers.
- To act as an institutional mechanism for providing various services including information to budding entrepreneurs
- To nurture entrepreneurship knowledge through entrepreneurship studies and education and to assist entrepreneurs in developing viable enterprises that are capable of competing in the global business and industry
- To foster the entrepreneurial culture through an incubator centre ( BIMTECH Incubation Centre- BIC)
- To create a venture capital fund with linkages to angel investors, VCs and banks
- To foster better linkages between BIMTECH, industries and R& D institutions in the region and other related organizations engaged in promoting Small & Medium Enterprises (SMEs) including NGOs and other voluntary organizations.
- To understand the vital role of the capacity building of small businesses to the nation’s economy.
- To respond effectively to the emerging challenges and opportunities both at national and international level relating to SMEs and micro enterprises.
Functions of CIED at BIMTECH
- To guide and assist prospective entrepreneurs on various aspects such as preparing project reports, obtaining project approvals, loans and facilities from agencies of support system, information on technologies, etc.
- To create a venture capital fund for the students with linkages by the Centre to angel investors, VCs and banks
- To organize Entrepreneurship Development Programmes in the region for the benefit of students, whether internal or external.
- To regularly update curriculum on Entrepreneurship Development for PGDBM programme at BIMTECH and work towards introduction of the curriculum on Entrepreneurship Development in other institutes in the NCR.
- To conduct research work and survey for identifying entrepreneurial opportunities (particularly in S&T areas and service sector)
- To extend necessary guidance and services to the trainees in obtaining approval and execution for their projects.
- To act as a Regional Information Centre on business opportunities, processes, technologies, market, etc. by creating and maintaining relevant data bases.
- To render advice to sick enterprises and assist the entrepreneurs
Ongoing Entrepreneurship Development and Support
- Ongoing support provided to start-ups under the BIMTECH Incubation Centre ( BIC)
- Conducting a 6 month Certificate Programme for Family Business ( CPFB)
- Conducting Entrepreneurship Development Programmes ( EDP) and Faculty Development Programmes ( FDP) in entrepreneurship
- Consulting projects
- Research Projects in entrepreneurship ( under progress) on Women & Minority Entrepreneurship
- Seminars with Alumni , who are entrepreneurs
- Student Seminars
- Agreement with the National Entrepreneurship Network since 2007 for
- Conducting various activities to encourage entrepreneurship
- Meeting with venture capitalists and angel investors
|BIMTECH Business Incubation Center is designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and offered both in the incubator and outside.|
These services are developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. One main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies.
We try to provide management guidance, technical assistance and consulting tailored to young growing companies and assistance in obtaining the financing necessary for company growth.
The objective of this centre is also to develop/up-grade entrepreneurial skills and techniques of incubatee companies. This objective will be achieved through various short courses and workshops. The Institute’s own and invited expert faculty will play an integral role in course development and instruction. These courses will be optional for the incubatee companies and they may enroll into courses which can benefit them in running the company. BIC will conduct these courses on a not – for – profit basis. Move to top
- Nurture young firms, helping them during the critical start-up period when they are most vulnerable.
- Provide hands-on management assistance, access to financing and well designed exposure to critical business or technical support services.
- Offer entrepreneurial firms shared office, services, access to equipment, flexible leases and expandable space all under one roof.
- To put our incubates at the forefront of developing new and innovative technologies and help them create products and services that improve the quality of lives in communities around the world.
Advantages of Academic Affiliated Incubator
BIC will have a greater impact on the economy by working with the incubates as it will provide a direct link between the three important groups i.e. the entrepreneurs, the students, and the academic expertise through various faculty support.This support will come through well-equipped and extensive libraries, powerful computer systems, technology expertise, a well-educated workforce, subject-matter experts from the faculty and most important of all, the network with other institutes which will facilitate use of common resources like laboratories and workshop facilities.
BIC also has the advantage to:
- Provide students with internship or part-time job opportunities, real-world examples for case studies or class projects, opportunities to apply their knowledge to real business problems, and an introduction to entrepreneurship early in their professional careers; and
- Opportunities to strengthen ties between the educational institution and the local business community, a system for bringing technological advances and products to the market, a recruiting tool for faculty members and students interested in entrepreneurial opportunities, an opportunity to fulfill research academic, and community service missions
The BIMTECH Incubation Center is operating under the overall set up of the Center for Innovation and Entrepreneurship Development.The initial capital needed for creating a state-of-the-art infrastructure has been provided by BIMTECH.
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BIC has the following governance structure in place, responsible for the operations of the incubator.
|Chairperson||:||Dr. Abha Rishi|
|Advisor||:||Dr. Arunaditya Sahay|
|BIC Manager||:||Mr. Sunil Cheruvilly|
In addition, a dedicated team of faculty members is available to strengthen the hands of the BIC.
- Help with business basics
- Advisory boards and mentors
- Guidance for accessing funds, bank loans and guarantee programs
- Comprehensive business training programs
- Help with presentation skills and business etiquette
- Help with accounting/financial management
- High-speed Internet access
- Management team identification
- Networking activities
- Understanding regulatory compliance
- Technology commercialization assistance
- Marketing assistance
- Links to higher education resources
- Links to strategic partners
- Coordinate with Angel investors or Venture capital investors
- Intellectual property management support
Incubator Managing Committee
- Head of the Committee – Director of BIMTECH – Dr.H.Chaturvedi
- Advisor,CIED – Dr. A. Sahay
- Chairperson,CIED: Dr. Abha Rishi
- Prof N.N.Sharma
- Prof. K.R.Chari
- Prof. Manoj Pandey
- Prof. M. S. Rawat
- Prof. Rajeev Sharma
- Prof.Akhil Pandey
- Prof.Kamal Kalra
- Prof.Shreshtha Bhattacharya
- Prof.Arindam Banerjee
- Representatives from Industry
Dr Harivansh Chaturvedi
With a masters’ degree in Commerce and a doctorate in Business Management from Agra University, Agra, Dr Chaturvedi has more than 37 years of experience in teaching, research and administration. As a former Director with the All India Council for Technical Education (AICTE), New Delhi, a statutory body under the Ministry of Human Resource Development, Government of India, he was associated with the formulation of policies, planning, regulation and control of management education as well as other disciplines under technical education.He was also involved with the National Board of Accreditation (NBA) which is a quality assurance body for technical education.
Dr Chaturvedi joined Birla Institute of Management Technology (BIMTECH), New Delhi as the Director in 1999 and launched full-time post-graduate programmes in insurance, retailing, international business and sustainable development. He has been instrumental for forging tie-ups with 60 B-schools and universities of Europe, Asia, Africa and the USA for which involved his visits to USA, UK, France, Spain, Hungary, Poland, Germany, Scotland, Tanzania, Ethiopia, Kenya, Singapore and China frequently. Dr Chaturvedi is known as an institution builder in the country. He is credited with setting up two state-of-the-art residential campuses of the BIMTECH at Greater Noida and Bhubaneswar. Dr Chaturvedi is the Trustee and the Executive President of Education Promotion Society for India (EPSI), a national platform for eminent educationists, education service providers and edu-entrepreneurs. Dr Chaturvedi has authored and edited four books relating to various challenges before Indian Business and economy.
Prof.R J Masilamani
Prof Masilamani has worked for thirty five years in industry mainly with the TATA group of companies and with J.Vs the group was associated with, including the Pepsico J.V. and the Timex J.V. He was the Managing Director of Timex Watches Ltd. from 1991 to 2000. He served as the Director General, Fertilizer Association of India from 2001-2002 and has been a consultant to several companies in the Automobile, Power and the Retail sectors.
Prof. Masilamani completed his BE (Mechanical) from Anna University and PGDM from IIM Ahmedabad. A Rank holder in IIMA, he was selected for the Tata Administrative Service, considered as one of the most prestigious industry cadres. He has taught various courses in Strategic Management and other general management courses in several leading business schools including IMT Ghaziabad, BIMTECH, Delhi University, and Fore School of Management. He was the Programme Director for MBA Telecom Management at Amity University and has conducted many Management Development programmes at leading corporates including NTPC, ONGC and Cognizant.
Dr A K Dey
Dr. Dey has over thirty-six years of experience. For two decades he had served in Information Technology industry and for twelve years worked as an entrepreneur providing consultancy in marketing services to corporate organizations. He has been teaching management courses as visiting faculty since 1990 at many renowned management institutes. Since May 2004 Dr. Dey is a Professor at Birla Institute of Management Technology at Greater NOIDA.
For over two decades Dr. Dey has gained rich & varied experience while working with companies like SICO, DCM, BUSH, Hindustan Computers & Modi Olivetti all in Information Technology sector. After leaving Modi Olivetti in 1993 as General Manager, Dr. Dey has operated as an independent consultant in the area of Marketing Services for over twelve years. His clients are Compaq Computers, Crompton Greaves, NCAER, IDC India, Bridgestone, Stryker Corporation, HCL, NIIT and many other prestigious organizations.
Star Group of Industries and DNA, Mumbai has awarded Dr. Dey as Most” Innovative Professor” in 2009. Dr. Dey is also interested in developing management cases, he has published many papers and cases in reputed journals.
Prof.K K Sinha
Prof. K K Sinha is a Graduate with Honors in Economics and Post Graduate in Personnel Management / LSW (Gold Medalist, University of Patna). He has worked in HR for 42 years and held leadership positions in organizations like Steel Authority of India (SAIL), NTPC Limited, Reliance Energy, Reliance Infocomm and Reliance Industries Limited (NMSEZ/HSEZ), and as the Group Director, Human Resource, Jindal Steel & Power.
In his 16 years with SAIL and its subsidiaries, he worked in Central Coal Washeries, Central Marketing Organization, Hindustan Steel Works Constructions/Bokaro Steel and a Consortium in Iraq of Companies like HSCL, PCP and Larsen & Neilson. During his tenure of 21 yeas’ services in NTPC Limited, where he was Director (HR) on the Board for 8 years, he transformed the HR processes and the work culture, enabling NTPC to be ranked as the 3rd “Best Employer” and one of the “Great Places to Work” consecutively for 3 years.Prof.K K Sinha has been an innovator in development of HR and is a known HR thought leader and avid Human Source developer… A keen learner and HR thinker and innovator. On his retirement from active Corporate world after 42 years of sojourn, currently, he is working as Dean – Development in BIMTECH, Greater NOIDA. He has written a Book, sharing experiences of transforming HR in mega PSU in the Power sector NTPC Ltd, “My Experiments with Unleashing People Power”, which has been rated in Business Standard’s The Strategist top five.
Prof.K R Chari
Prof. Chari is a Mechanical Engineer of the 1971 batch, followed with a Post Graduation in Industrial Engineering. Prof.Chari was the Regional Director of National Productivity Council. He had trained more than 5000 engineers and supervisory staff and provided his technical advisory services to more than 500 industrial organizations, Central and State Government depts. and various establishments in the public and private sectors like BHEL, NTPC, HMT, Railways, Shipping, Mining, Power sectors etc. He was in the founding teams of the Bureau of Energy Efficiency (BEE).
Prof. Chari has very widely travelled and has covered more than 16 countries and is a panel expert on the United Nations Environment Programme (UNEP) and the Asian Productivity Organisation (APO), Tokyo. He had represented India in Industrial Applications of Computers at Hong Kong in 1979 and in 1983 and 1991 he was the Indian representative in International forums at Tokyo, Japan.
Prof.Chari is currently working with BIMTECH, Greater Nodia, and teaches the students ‘Operations Management’ and he is also the Dean- Students Welfare and Support Services.
Prof.N N Sharma
Prof. N N Sharma has worked for more than 30 years in social development sector. He has been working with government institutions like UP Financial Corporation, Central Leather Research Institute (CLRI), Footwear Design and Development Institute (FDDI).He was also Managing Director of Rajasthan Consultancy Organisation (RAJCON) set up by All India and State Financial Institutions , Commercial banks and support organizations and its mandate was to provide consultancy services to Micro , Small and medium industries in state of Rajasthan. He was appointed as the first General Manager of U.P. Minorities Financial and Development Corporation set up by the Government of UP for ensuring all round development of minorities in UP. Prof. Sharma was with UNDP and UNIDO in their livelihood related and cluster development projects and associated with livelihood projects funded by the World Bank and Department for International Development (DFID), UK.
During his stint at BIMTECH, he was instrumental in designing and launching of PGDM (Sustainable Development Practices) programme and teaching modules related to Corporate Social Responsibility; Social Entrepreneurship and Innovation; and Public Policy. He is also regularly conducting executive development programmes in the above areas and also undertaking consultancy assignments.Prof. Sharma’s areas of interest are i) livelihood promotion ii) cluster development iii) corporate social responsibility and iv) ant-poverty programmes ,v) social enterprises and innovation and vi) Microfinance and financial inclusion.
Dr Abha Rishi
Dr. Abha Rishi is an Associate Professor in International Business. She has 21 years of experience in the field of international trade- in industry and academics. She is an EEC Honors from STVP, Stanford University. Her other qualifications in the field of International business and management are a PhD, M. Phil, PGDIBO, MFT and MIB. She is a CRISP 2014 (Chevening Rolls Royce Science and Innovation Leadership Programme) scholar from Said Business School, University of Oxford. She is also a Fulbright Research Fellow from India at Rutgers University, Newark, USA for 2009-10. She was the Programme Director from BIMTECH for UP and Orissa for the BIMTECH ISB Goldman Sachs 10000 Women global project.
Presently she is also the Chairperson for the Centre for Innovation and Entrepreneurship Development (CIED) at BIMTECH.She has published and presented papers in various domestic and international forums. She has been selected as one of the semi- finalists in the GDN Japanese Award for Outstanding Research in development work. She has traveled extensively in Zambia, Russia, Zimbabwe, Kenya, Colombia, Dubai and USA as part of her work and also for research. She has also won the Championship Winners Trophy in 2008 in the All India Women’s Quiz conducted by AIMA. She has been conferred the the Entrepreneurship Education Champion’s Award from the Ministry of Skill Development and Entrepreneurship (MSDE), along with NEN in partnership with Entrepreneurship Development Institute of India (EDII), the British Council and Intel, in March 2015.
Prof. Krishna Akalamkam has over two decades of experience in industry, consulting and teaching. His main focus areas include marketing, marketing research and consumer behavior with a special focus on consumer online shopping behavior and digital marketing. He has worked with leading research agencies like AC Nielsen, Indian Market Research Bureau and Research International, a WPP group company. He handled a variety of assignments including communication research, new product development, brand health, usage and Attitudes, pricing research, customer satisfaction measurement and worked with several clients from different industries. Some of the clients he has worked with include Nestle India Ltd., Hindustan Unilever, Reckitt Benckiser, Nokia, Radico Khaitan, Coca Cola and ICI Paints.
Krishna has written and presented papers at international conferences. He has also conducted MDPs for corporates and mentored entrepreneurs under Goldman Sachs “10,000 women entrepreneurs’ initiative”. Krishna has done his bachelor’s degree in Chemical Engineering from University College of Engineering, Andhra University and MBA from Faculty of Management Studies (FMS), Delhi
Prof. Arindam Banerjee is a fellow of The Institute of Cost Accountants of India (FCMA), a Certified Financial Planner (CFPCM), and a partly qualified Actuary by qualification. He is presently pursuing PhD from National Institute of Technology (NIT), Durgapur . He possess around 11 years of industry experience along with 8 years of academic experience. Prof. Arindam Banerjee took active participation as trainer and resource person in MDP programmes for organizations like National Foundation for Corporate Governance (NFCG), Principal Mutual Fund, NIS Sparta Ltd., Indian Navy (on behalf of ICAI), and PEC Ltd. among others.
Prof. Banerjee is editor of ‘Global Journal of Management’. ‘Global Journal of Management’ is social entrepreneurial venture that aims to provide visibility and platform to young researchers. He is also member of editorial board of ‘Business Perspectives’, research journal published by BIMTECH. In recent past, he also acted as editor of ‘Asia-pacific Journal of Management Research and Innovation’, published by Sage publications, UK.
Physical Infrastructure:Incubates are provided well furnished offices. All offices are ready-to-use and come with hassle-free services, including
- Reception services
- Shared meeting rooms
- Dedicated internet access
- Independent working office space
- Business centre services
Technical & Management Assistance:
To accelerate the development of entrepreneurial companies, the requisite technical &management assistance will be provided by the center during the first six months. This service will allow incubates to access institute’s faculty resources and gear up their engineering and managerial capability. After the six months period, a total of 20 dedicated hours per month of consultancy will be provided by the Incubator. If the incubate desires to avail these services, the center will charge an additional Rs. 5,000 per month towards these services.Any additional consultancy required by the incubate will be charged as per the norms.
Types of businesses supported:
BIC will support entrepreneurs in the following three areas of businesses.
- Social Businesses
- Energy and Environment
- Information and Communication Technology
Selection criteria for incubating companies
The incubates will be selected under three stages of incubation, as under:
Stage 1: Incubatee with the idea of the product or service.
Stage 2: Incubatee with fully developed idea and prototype stage.
Stage 3: Incubatee with a registered company and trying to further develop the product or service.
The following criteria will be applied to consider the selection of incubating companies:
The proposed business should have;
- Good understanding of the market and competition
- Established Pre-Feasibility
- Strong growth potential
- Demonstrabe scalable business potential
- Sound financial condition of the incubate
- Promising industry growth rate in the proposed sector
- Significant proven market size
- Identification of marketing, financial or management deficiencies
- At least one full-time person committed to the company
- At least one of the proponents has the relevant professional experience and education
- The proposed technology involves an innovative concept,
- Has a potential for IPR and has a
- Technical expertise and edge
Selection of incubatee:
- Receipt of application from the incubatee
- Application screening by a committee comprising business and technical experts
- Meeting/Presentation by the potential Incubate(s) . At this stage, the Potential incubate will present the product concept and business feasibility
- Applicant is informed whether he/she is selected or rejected by the committee as an incubate.
- Monitor Project Progress and assist incubate with future actions
- Tenancy Agreement
Selection Committee will include:
- Director of the Incubator
- Faculty Member from the relevant field
- External expert
- Representative from Industry
Keeping the Incubate focused
BIC has and will ensure a business like discipline, team work effort and attention to details of every aspect of the project, to ensure success. This will be achieved through developing and managing project milestones such as Product concept refinement, Product design,
Prototype development, Product testing in laboratories and simulated actual service conditions.
Incubates must prepare and present for review a project plan describing each milestone and corresponding activities along with resources needed for each milestone.
The project plan must be adhered to strictly and corrective actions carefully designed and implemented to correct any deviation. Incubator Management will ensure that the plan is followed properly.
Once the product has been tested and approved to meet the quality and reliability standards, the Incubate may opt to sell it at a lump sum price or engage in serial production.
Option 1: Transfer of Technology
Under this option the project can be sold against a lump sum amount.
Option 2: Pilot and Serial Production
Under this option the incubate company can find an investor to do the pilot and serial production. Incubator Management will help the incubate in locating the right financial sources.
The incubator management will have to be consulted before making any legal arrangement with the investor or VC firm. There is a possibility where the VC firm can become an equity partner in that incubate company. The percentage of partnership will be worked out on a case to case basis.
Project Monitoring System
- The monitoring system for the incubates will comprise
- Goals set for the existing quarter
- Achievements made against the set goals
- Activities made to achieve the goals
- Factors that contributed to the success/failure of goal achievement
- Financial resources consumed during quarter
- Goals for next quarter along with the corresponding activities and financial means required to achieve the goals.
Graduation or Exit Criteria
The incubate company will be graduated out of the incubator once it meets any of the following criteria.
- Incubatee has spent 18 months at the incubator and the project hasn’t been completed yet. An additional 2-6 months could be given by the incubator management if they feel that the project can be completed by then.
- Incubatee has successfully developed the prototype and has found an investor or Venture Capitalist to either buy it or take it to the production stage-
- If incubatee fails to meet the quarterly targets twice in a calendar year
- If the review committee decides that the project is no longer viable
- If incubatee violates the tenancy agreement.
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