National Innovation and Start-up Policy

"Be a Job provider and don´t be Job seeker"

About PRINCEiC


Pre-Incubation Centre named "PRINCEiC" was formed in August 2020 with Faculty-students committee members and a convenor


Our Values


VISION: To nourish the innovation culture and develop the center of excellence for ideation, market research and product development, develop the ecosystem in sustainable manner that meet the needs real time challenges of current and future with state-of-art technologies and support with financial services.


MISSION:
  • 1. Creating an environment to help for young innovators to come up with new business ideas in the institution with commitment.
  • 2. Contributing in awareness programs and competitions for forming ideations and solutions or developing the commercial products to the society and industries in thrust domains.
  • 3. Enabling the complete incubation support in partnership with regional government and corporate bodies.
  • 4. Improvement in the progress of entrepreneurs and assessment by Key performance Indicators (KPI).

NISP START UP POLICY


What we have done

Mentoring: Qualified faculty members along with industry experts are connected with the innovators (students) to walk in the appropriate path of entrepreneurship.

Infrastructure provided from the Institute (as own source) for Pre-Incubation Lab:

  • 1. Size of the Incubation centre: 10,0000 Square Feet
  • 2. No. of Systems: 10 with simulation Tools, access to laboratories, and access to IEEE, Springer, Elsevier, ACM journal

For relating the investors to the innovators, communication with Industry Experts to are arranged, so the students are well-versed in the practical implications of the industry in the eco system


Discussion forum will be conducted twice in a month: orientation programme for identifying thrust areas and create awareness to the students.

Activities planned

  • 1. Events like Project expo, Hackathon, Workshops can be conducted once in a semester to identify the best innovators and utilized to convert into business plan and research.
  • 2. Virtual Hands-on Lab Sessions will be conducted through online by every department twice a semester

Training for Students after ideation:

  • 1. Training on technology-oriented or industry-related emerging areas
  • 2. Internship in the companies
  • 3. Participation in Annual Innovation Festival
  • 4. Participation in Annual National Level Boot Competition
  • 5. Workshop on IPR & with Industry Experts


<

For new Ideation, Market Analysis has been performed with the help of faculties in institute and Industry Experts. If the proposal is suitable for solving the complexities and needed in market conditions, then the seed fund (25 % of implementation cost) will be released from the institute. Then based on the progress, the funds are sanctioned at different levels.

Peer Institution: The nearby institutions and Industries which are having complete incubation facilities were identified to get support by making partnership by MoU

Alumni Network is maintained in our college which can be utilized to guide the innovators and for funding support


Academic Relaxations: Faculty members and students who are participating in regional, national and International level can get sufficient number of on-duties.

Explore IP support- To convert the ideation to patents.

Key Performance Indicators (KPI) are used to assess the impact and Outcome based on the following factors with comparison of before and after making incubation centre, they are:
  • 1. Number of events conducted
  • 2. Ideation and Prototype generated
  • 3. Number of patents filed and granted
  • 4. Number of start-ups with CIN number
  • 5. Number of faculty innovators with DIN number, and annual turnover

Grants: After improving the KPI, the pre incubation can be improved to have a complete incubation centre within 2 to 3 years by receiving grants with government sectors like MHRD, ATAL

Committee Members:

1. Dr. S. K. Senthil Kumar, Professor, Dept of ECE

2. Dr. C. Amuthadevi, Professor, Dept of IT

3. Dr. Balakumar, Professor, Dept of CSE

4. Dr. M. Mercy Theresa, Associate Professor, Dept of ECE

5. Dr. Kavitha, Professor, Dept of Civil Engineering

6. Dr. Janaki Raman, Professor, Dept of Mechanical Engineering

7. Dr. Radhika, Professor, Dept of MBA

8. Mr. Sri Sathrapathy, Alumni

9. Industry Experts from Pyroferus Pvt. Ltd

10. Entrepreneur -Mr.J.Akilas Maryson, THE NEW INDIA ASSURANCE CO. LTD

11. Start-up Founders � Chairman and Vice Chairman of PSVPEC