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| SMVDU-TBIC holds managing committee meeting | | | Early Times Report
KATRA, Apr 28: The Managing Committee of the Shri Mata Vaishno Devi University Technology Business Incubator (SMVDU-TBIC) recently convened a key meeting to finalize its updated policy documents and funding guidelines aimed at strengthening support for startups and fostering regional innovation.
Apart from internal committee members, the meeting witnessed participation from external experts, including Dr. Ashutosh Pastor, Head of Incubation at FITT IIT Delhi, and Mr. Amit Singh Rathore, CEO of IIF DTU, lending valuable insights into best practices from leading incubation centers.
The session began with a welcome address by Dr. Sanjay Mohan, CEO of SMVDU-TBIC, who also expressed gratitude to the Hon'ble Vice-Chancellor and the participating team members for their commitment to advancing the incubator's mission.
During the meeting, several pivotal recommendations were made:
Support at Ideation Stage: Proposals to provide early-stage support to entrepreneurs to foster innovation from the initial idea phase.
Flexibility in Incubation: Enhancing the incubator's autonomy in managing incubation processes and facilitating startup growth.
Funding and Startup Registration: Streamlining processes for startup registration and funding, including temporary workspace agreements for founders, alumni, and private investors.
Equity Holding Model: Discussions on allowing SMVDU-TBIC to hold equity stakes in incubated startups, including necessary legal and governance frameworks.
Student Protection Policy: A new policy framework was proposed to safeguard students involved in startup collaborations from potential exploitation.
MVP Grant Disbursement: Establishing a structured process for evaluating and funding Minimum Viable Product (MVP) development. Formal Selection and Review Process: Implementation of a strategic review mechanism before fund allocation to ensure startups align with the incubator's vision and goals.
The thoughtful deliberations and strategic planning are expected to significantly strengthen SMVDU-TBIC's ecosystem, making it a more dynamic platform for budding entrepreneurs.
The meeting concluded with a vote of thanks delivered by Ms. Divye Duheta Mahajan, Manager of SMVDU-TBIC. |
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