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Incubation Platform to develop budding entrepreneurs in GITAM University

Incubation-Platform-to-develop-budding-entrepreneurs-in-GITAM-University

As a part of building an entrepreneurial ecosystem in the city, GITAM Deemed to be University Venture Development Centre (VDC) and Northeastern University Boston will jointly organize Ready-Set-Go event, said VDC director Leben Johnson here today. The VDC is an incubation module that fosters the development of budding entrepreneurs in the city and through the educational module Ready-Set-Go in developing business from conceptualization to the actual launch, he said. This model has been tested by Northeastern University (NU), Boston, he said.

Johnson informed that to enroll in the Ready-Set-Go event, all that a student requires is an idea. If the student does not have one, he or she can still enroll since every venture needs to form an interdisciplinary team. “We will help the students get associated with one,” Johnson said. The last date for enrolling into the second cohort is February 15. For more details, check out http://www.gitam.edu. Every year, we take a maximum of 300 students from across all disciplines for the Ready-Set-Go, and last year, we had 276 students with 85 different venture ideas participating in the first cohort, briefed Johnson.

He explained that in all, there are 30 different modules in the Ready phase, on completion of which the teams have to pitch their ideas to a panel comprising GITAM and Northeastern University experts. The venture needs to identify the marketing and competitive intelligence, customer value proposition, concept design to alleviate this latent need, the VDC director pointed out.

The process takes about a year and on successful completion, they venture into the Set-Go part of the program, during which they will build prototypes and pitch to venture capitalists to obtain funding. Meanwhile, GITAM Deemed to be University will host a two-day South Zone Vice-Chancellors’ Meet 2020-21 of the Association of Indian Universities (AIU) from February 24 through virtual mode. The theme of the two-day event is ‘Governance Reforms and financing of Higher education’. GITAM Registrar D Gunasekharan said 200 V-Cs from the universities in AP, Telangana, Karnataka, Tamil Nadu, Kerala and Pondicherry are likely to attend the meet.

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