New Delhi : As per its "National Innovation and Startup Policy 2019 for Students and Faculty", the MHRD has approved new regulations for higher education institutions to actively engage students, faculties and staff in innovation and entrepreneurship.
New Delhi : As per its "National Innovation and Startup Policy 2019 for Students and Faculty", the MHRD has approved new regulations for higher education institutions to actively engage students, faculties and staff in innovation and entrepreneurship.
"As per the new regulations the student entrepreneurs are allowed to appear for examination, even if their attendance is less than the minimum permissible percentage, with due permission from the institute," states Ministry of Human Resource Development (MHRD).
The MHRD's Innovation Cell or the MIC recently released the "National Innovation and Startup Policy 2019 for Students and Faculty".
It has also directed the institutes to allow their students to take a semester or year break to work on their start-ups.
"Student entrepreneurs may earn academic credits for their efforts while creating an enterprise. In such cases, the institute should set up a committee for the reviewing the start-up by the students. And, based on the progress made, the institute may consider giving appropriate credits for academics," the MHRD proposal said.
In the new policy, higher education institutions have been asked to actively engage students, faculties and staff in innovation and entrepreneurship.
The policy has been prepared by the recommendation of a fifteen-member committee constituted by the Ministry of Human Resource Development and covers Intellectual Property ownership, revenue sharing mechanism, norms for technology transfer and commercialization.
"The best universities around the world have evolved sound mechanisms for promoting and managing innovations. I believe that the 'Guidelines on National Innovation and Startup Policy 2019' will provide the required direction and support to a large number of universities and its affiliated institutions in India on handling Intellectual Property Rights, innovations and start-up related issues," said DP Singh, Chairman, UGC.
For supporting and funding start-ups, it has asked institutes to allocate a minimum of 1% of the total budget for start-up related activities. It has also requested institutes to approach private and corporate sectors to generate funds, under Corporate Social Responsibility (CSR).
"If India aims to become 5 trillion-dollar economy, then it needs to evolve systems and mechanisms to convert the present demographic dividend into high quality technical human resource capable of doing cutting edge research and innovation (R&I) and deep-tech entrepreneurship," said Abhay Jere, Chief Innovation Officer, MHRD.
"The guidelines highlight various important points including revenue sharing mechanism for licensing, ownership of IP, equity sharing mechanism between institute and start-ups incubated at the institute," said Anil D Sahasrabudhe, Chairman, AICTE.
"As per the new regulations the student entrepreneurs are allowed to appear for examination, even if their attendance is less than the minimum permissible percentage, with due permission from the institute," states Ministry of Human Resource Development (MHRD).
The MHRD's Innovation Cell or the MIC recently released the "National Innovation and Startup Policy 2019 for Students and Faculty".
It has also directed the institutes to allow their students to take a semester or year break to work on their start-ups.
"Student entrepreneurs may earn academic credits for their efforts while creating an enterprise. In such cases, the institute should set up a committee for the reviewing the start-up by the students. And, based on the progress made, the institute may consider giving appropriate credits for academics," the MHRD proposal said.
In the new policy, higher education institutions have been asked to actively engage students, faculties and staff in innovation and entrepreneurship.
The policy has been prepared by the recommendation of a fifteen-member committee constituted by the Ministry of Human Resource Development and covers Intellectual Property ownership, revenue sharing mechanism, norms for technology transfer and commercialization.
"The best universities around the world have evolved sound mechanisms for promoting and managing innovations. I believe that the 'Guidelines on National Innovation and Startup Policy 2019' will provide the required direction and support to a large number of universities and its affiliated institutions in India on handling Intellectual Property Rights, innovations and start-up related issues," said DP Singh, Chairman, UGC.
For supporting and funding start-ups, it has asked institutes to allocate a minimum of 1% of the total budget for start-up related activities. It has also requested institutes to approach private and corporate sectors to generate funds, under Corporate Social Responsibility (CSR).
"If India aims to become 5 trillion-dollar economy, then it needs to evolve systems and mechanisms to convert the present demographic dividend into high quality technical human resource capable of doing cutting edge research and innovation (R&I) and deep-tech entrepreneurship," said Abhay Jere, Chief Innovation Officer, MHRD.
"The guidelines highlight various important points including revenue sharing mechanism for licensing, ownership of IP, equity sharing mechanism between institute and start-ups incubated at the institute," said Anil D Sahasrabudhe, Chairman, AICTE.