All India Council for Technical Education (AICTE) has regulated all the technical institutes including engineering colleges and universities to organise an incubation centre in the campus. The initiative has been taken to boost up the start-up culture and help young entrepreneurs to pre-practice their mind on the fresh ideas.
What is incubation centre?
The incubation centres are are designed to help new start-ups succeed. Incubator program is managed by corporation, educational institutions or government agencies that create an environment for start-ups by providing services such as management training and office space.
The institutions have been mandated to increase the arrangements of discussion panels with the alumini, corporates, entrepreneurs, industrialists and other stakeholders to inspire students to take up innovative projects that can later be dig out as a start-up.
The mandation is introduced under the circumference of new norms suggested by supreme court to be implemented from the new academic session.
A new strategy has been built by the council in regard of the rankings of the institutions that are presently judged on the basis of academic performance and placements, now will also be accumulated on the basis of the maximum number of start-ups and entrepreneurs it has produced.
Colleges and Universities are also directed to include research work in their academic budget so as to provide financial assistance to the researchers.
AICTE stated in their officially released notification “Autonomy is pivotal to promoting and institutionalising excellence in higher education and that the regulatory framework needs to facilitate better performing institutions towards excellence in higher education.
AICTE is established under Department of Higher Education, Ministry of Human Resource Development. It is responsible for proper planning and co-ordinated development of the technical education and management education system in India.