Muthoot Institute of Technology and Science
Varikoli P.O, Puthencruz- 682308

info@mgits.ac.in | 0484-2732100/111

POLICY FOR INNOVATION AND ENTREPRENEURSHIP DEVELOPMENT CENTRE

MUTHOOT INSTITUTE OF TECHNOLOGY AND SCIENCE

Innovation and Entrepreneurship Development Centre (IEDC)

The Innovation and Entrepreneurship Development Centre (IEDC) is being promoted in educational institutions to develop institutional mechanism to create entrepreneurial culture in S&T academic institutions and to foster techno-entrepreneurship for generation of wealth and employment by S&T persons. The IEDCs are established in academic institutions (science colleges, engineering colleges, universities, management institutes) having requisite expertise and infrastructure.

The mission of the IEDCs is to “develop institutional mechanism to create entrepreneurial culture in academic institutions to foster growth of innovation and entrepreneurship amongst the faculty and students”.

Objectives of the IEDCs:

  • To act as an institutional mechanism for providing various services including information on all aspects of enterprise building to budding S&T entrepreneurs.
  • To create Entrepreneurial culture in the Parent Institution and other institutions in the region and to promote the objectives of NSTEDB, including programmes related to women and weaker sections of the society.
  • To inculcate a culture of innovation driven entrepreneurship through student projects.
  • To catalyse and promote development of S&T knowledge-based enterprises and promote employment opportunities in the innovative areas.
  • To respond effectively to the emerging challenges and opportunities both at national and international level relating to SMEs and micro enterprises.

Functions of IEDCs:

  • To organise Entrepreneurship Awareness Camps, Entrepreneurship Development Programmes, Faculty Development Programmes and Skill Development Programmes in the college/institution for the benefit of S&T persons.
  • To initiate five innovative student projects each year for new innovative product development.
  • To organize Business Plan Competitions every year.
  • 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 arrange interaction with entrepreneurs and create a mentorship scheme for student entrepreneurs.
  • To facilitate creation of entrepreneur’s club in each college to foster culture of entrepreneurship amongst students.
  • To act as a Regional Information Centre on business opportunities, processes, technologies, market, etc. by creating and maintaining relevant data bases.
  • IEDCs would also sensitise the management of the institutions regarding the importance of entrepreneurship and integrate their activities with the Host Institutions.

Terms and Conditions under which IEDC is working are mentioned below.

  • Muthoot Institute of Technology and Science will work to spread the message of Innovation, Incubation and Entrepreneurship among students in the college/region.
  • Muthoot Institute of Technology and Science should ensure delivery of their roles expected from IEDC under the Startup Boot camp initiative/ (Youth Entrepreneurship program)YEP of Government Of Kerala, before implementing any policy decisions related to the centre.
  • There will be annual review of the activities and progress of the IEDC, and the centre should submit an Activity report to this effect.
  • The IEDC of Muthoot Institute of Technology and Science will continue to be under the mentoring of Kerala Startup Mission and report to Kerala Startup Mission, its progress till such time when the college gets recognized by the Department of Science & Technology as an approved IEDC under the National Science and Technology Entrepreneurship Development Board.
  • The Financial assistance can be used for Conducting workshops, seminars,  Hackathons and other such Entrepreneurial Activities which may be helpful for the IEDC centre.
  • The assistance may not be used for sponsorship, infrastructure creation, advertisements and PR activities.
  • Rough Outlay of the utilization may be like
    • Capex: 15%
    • Travel : 10%
    • Incidental/ Miscellaneous :10 %
    • Conducting & Participation (Maker session, Events, Workshops and Seminars) : 60%
    • Marketing : 5%
  • The IEDC/EDC/TBI shall function as independent unit within the parent institution.
  • The funds for the Startup boot camp shall be disbursed from TBI through the IEDC to the Bootcamp .The funding will be capped at an amount of Rs 2 lakhs and shall be against an equal investment by the institute. An account will be maintained separately by the IEDC.
  • The fund utilization report will be prepared on a quarterly basis by the boot camp EC in consultation with the IEDC nodal officer and shall forward it to Kerala Startup Mission.

SUGGESTED MODEL FOR FUND UTILIZATION
Organize min 10 programmes Phase I (not more than 1 lakhs / year )

  • Honorarium to the speaker 2500-10000
  • Programme coordinator 1500
  • Collect Rs 15 as registration fee from students
  • Prepare the report
  • Give news Coverage
  • lnvite your superiors for inauguration
  • Organize the programmes on holydays
  • Develop a peer team
  • Make good student team to organize the programme
  • 2 or 3 programmes may be hands training programmes

Organize frequent meeting on holidays or free hours. For the selected students from phase 1 (not more than 50000)

  • Select fifty students
  • Duration 1 to 1.5 hrs
  • Call small innovators
  • Spend upto Rs 2000/per programme
  • Organize min 15 such programmes
  • Honorarium 250/- for the coordinator per programme

Industrial visit( not more than 20000)

  • Maximum 7 members
  • No sight seeing
  • Min 2 Industries have to visit in one day
  • Can spend 3000/per programme
  • Cash should be spent only for TA
  • One brain storming after each visit by the members
  • Min five programmes

Prototype development (not more than 20000)

  • Maximum of 5000/per project
  • Min. Three student and a teacher is required
  • Teacher is responsible for the money
  • Maximum of five projects
  • Project should be innovate
  • Have to be select through a defined process
  • Have to invite application
  • Make panel for evaluation and presentation
  • Final selection is through presentation only
  • Project contest (not more than 10000)
    TA for students
  • Only TA not food
  • Accommodation for students & Teachers

Maximum of 5000
Documentation charge: Max. 5000
Other Expenses: 5000
Honorarium to the nodal officer: 10000
Special Programs of KSUM

  • Creating lot Space < 45000
  • EDI workshop < 25000
Events organized by IEDC MITS (TILL AUDIT, 15/01/18)
Sl. No.EVENTVenueCollege/State/National level EventNo of ParticipantsDate
1One day workshop on “Ideation to Transformation” by Prof. R Pradeep RajMuthoot Institute of Technology and Science, VarikoliCollege level6006-08-2016
2One Day Entrepreneurship Training by OUREA Training HubMuthoot Institute of Technology and Science, VarikoliCollege level6015-08-2016
3Talk on “ How to build a real startup and Experience Silicon Valley While still in College” as part of the Start in college Campaign of Startup Village by Mr.SijoKuruvillaMuthoot Institute of Technology and Science, VarikoliCollege level12016-08-2016
4“Orientation Programme to Nodal Officer’s and Conclave” by Kerala Startup MissionMuthoot Institute of Technology and Science, VarikoliState level3030,31-10-2016
5Webinar on Ethical HackingMuthoot Institute of Technology and Science, VarikoliCollege level3403-04-2017
6Introduction to robotics workshop by IEDC MITSMuthoot Institute of Technology and Science, VarikoliCollege level4222-04-2017
7Intoduction to robotics workshop by IEDC MITSMuthoot Institute of Technology and Science, VarikoliCollege level4225-07-2017
8Presentation and Interactive Session by Maker VillageMuthoot Institute of Technology and Science, VarikoliCollege level8628-07-2017
9Workshop on android development by IEDC MITSMuthoot Institute of Technology and Science, VarikoliState level2413-08-2017
10Half Day Entrepreneurship Orientation Boot Camp by Kerala Startup Mission and OpenfuelMuthoot Institute of Technology and Science, VarikoliCollege level7018-08-2017
11‘Two-Days Hands-on Workshop on Machine Learning with R-Programming’ by ED Cell IIT RoorkeyMuthoot Institute of Technology and Science, VarikoliNational level3925,26-08-2017
12Android Application Development with Android Studio IDE in association with ACM Student Chapter MITSMuthoot Institute of Technology and Science, VarikoliState level508,9-09-2017
13Introduction to robotics workshop by IEDC MITSSNIMT , MaliyanakaraState level4023,24-9-2017
14Logo and slogan competitionMuthoot Institute of Technology and Science, VarikoliCollege level2001-10-2017
15Workshop on c++ programming by IEDC MITSMuthoot Institute of Technology and Science, VarikoliState level227,8,-10-2017
16Idea competitionMuthoot Institute of Technology and Science, VarikoliCollege level28 teams18-10-2017
17IEDC Orientation Program for students by IEDC MITSMuthoot Institute of Technology and Science, VarikoliCollege levelEntire College09-10-2017 to 13-10-2017
18“RoboRave India 2017” National level competition organized by IEDC MITS and Shristi Robotics jointly with ROBORAVE InternationalMuthoot Institute of Technology and Science, VarikoliNational level4004/5-11-2017
19#INNspire2.0 by Aabasoft and Openfuel organized by Innostack at Muthoot Institute of Technology & ScienceMuthoot Institute of Technology and Science, VarikoliCollege level10012/01/2018
20IC Engine Ovehaulling Workshop by Srishti RoboticsMuthoot Institute of Technology and Science, VarikoliCollege level1111/02/2018
21DISHAMuthoot Institute of Technology and Science, VarikoliCollege level15028/02/2018
22February FundingMuthoot Institute of Technology and Science, VarikoliCollege level2528/03/2018
23Talk by Mr. Sijo Kuruvilla George about RethinkMuthoot Institute of Technology and Science, VarikoliCollege level4521/03/2018
242 Day Workshop on PythonMuthoot Institute of Technology and Science, VarikoliCollege level2926,27/03/2018
25Technovation 17-21Muthoot Institute of Technology and Science, VarikoliCollege level20May,June 2018
26Talk on Entrepreneurship by Ms.Chandra Vadhana RMuthoot Institute of Technology and Science, VarikoliCollege level4808/08/2018
27Two day leadership camp at MITS by PRAYAANA HUBMuthoot Institute of Technology and Science, VarikoliState Level5011,12/08/2018
28Two-Days Workshop – ‘Burn a custom ROM with Android OS’Muthoot Institute of Technology and Science, VarikoliState Level1020, 21/09 2018
Events participated by IEDC MITS (TILL AUDIT, 15/01/18)
1Three Days National Workshop on Entrepreneurial Skills & B-Plan CompetitionMohandas College of Engineering and Technology, TrivandrumState Level513,14,15-07-2016
2IEDC Student Co-ordinators Meet up( Precursor to IEDC Summit)SNGCE,KadayirippuState Level213-08-2016
3One day workshop on “Starting a Startup” by Kerala State Productivity Council in Association with MIROSIProductivity House,KalamasseryState Level217-08-2016
4IEDC Summit 2016Girideepam Convention Centre,TrivandrumState Level1023-08-2016
5Entreprenia, a workshop for promoting entrepreneurship cultureNSS, PalakkadState Level1024,25-09-2016
6Launch of Bosch’s idea competitionMaker village, KalamasseryState Level620-10-2016
7I2P Maker’s Workshop product launch and IPR class by APJ Abdul Kalam Technological university in Association With FISAT Centre for Innovation Incubation and EntrepreneurshipFISAT,ErnakulamState Level222-10-2016
8The idea competition [Technovate] in the techfest Deja vuHeera College Of Engineering And Technology, TrivandrumState Level227,28-10-2016
9Two Days Entrepreneurship Development Programme on “Solar Energy”Hotel Aiswarya,Pallimukku,KochiState Level212,13-11-2016
10Tiecon 2016 [Entrepreneur’s meet] by KSUMLe Meridian.ErnakulamState Level118,19-11-2016
11The BIG PITCH Incubation ContestChrist University, BangaloreState Level525,26-11-2016
12IEDC Nodal Officers MeetupKerala Technology Innovation Zone , KalamasseryState Level124,25-03-2017
13Pre IEDC Meetup (Precursor event)Adi Shankara Institute of Engineering & TechnologyState Level205-08-2017
14IEDC Annual SummitAdlux Convention Centre, KarukuttyState Level1519-08-2017
15YES SummitLe Meridian Convention Center,CochinState Level412-09-2017
163D Printing WorkshopTrinity College of EngineeringState Level504,05-11-2017
17YUVA MASTERMIND 2018( Autonomous Baby Walker)KollamState Level408,09,10-01-2018
18Shaastra 2018IIT MadrasNational level8004-01-18 to 07-01-18
19Design Thinking Workshop For The Nodal Officers And FacultyMES AIMAT, AluvaState Level212,13/02/2018
20National Level hardware Conclave Meetup “HARDTECH KOCHI”Gokulam convention Centre,KochiNational Level3010/03/2018
21DISHA 2018Athulya Auditorium,Infopark,KochiState Level110/03/2018
22IEDC Summit 2018AJCE,KanjirappallyState Level503/11/2018

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