Fostering Creativity and Entrepreneurship in Higher Education Institutions

India has witnessed a significant upsurge in the start-up landscape, positioning itself as a global hub for innovation and entrepreneurship. This growth can be attributed to various factors, including government support, access to funding, and a tech-savvy population. With an increasing number of recognized start-ups and unicorns, India is fostering a culture of innovation and entrepreneurship across diverse sectors. It is imperative to continue this trajectory by cultivating a culture of innovation within academic institutions.

The National Education Policy (NEP) 2020 encourages the development of an entrepreneurial mindset among students and aims to create a conducive ecosystem to catalyze research and innovation in Higher Education Institutions (HEIs). One of the initiatives undertaken to foster this entrepreneurial spirit is the collaboration between AICTE and NITI Aayog’s Atal Innovation Mission to empower and mentor school student innovators through Atal Tinkering Labs (ATLs) and AICTE Institution Innovation councils (IICs). The ATLs in schools provide tinkering opportunities to students to ideate and work on innovative projects, while IICs in HEIs engage students and faculties in innovation and entrepreneurship activities.

AICTE has also established Innovation Centres to integrate institute-industry start-ups and facilitate technology transfer, IP commercialization, and entrepreneurship development. Additionally, the Smart India Hackathon organized by AICTE and the Ministry of Education’s Innovation Cell (MIC) provides a platform for students to showcase their problem-solving skills and innovative solutions.

Furthermore, AICTE has introduced a Student Start-up Policy to guide and promote student-driven innovations and start-ups in over 10,000 AICTE-approved institutions. The policy focuses on overall student development and aims to strengthen the entrepreneurship ecosystem by promoting inter-institutional partnerships. AICTE’s Margdarshan Scheme provides mentorship and guidance to technical institutions to enhance their overall quality and foster a culture of innovation and entrepreneurship.

In line with these efforts, the ‘Ministry of Education – AICTE Investor Network’ has been established to boost innovation and entrepreneurship in the education sector. The network aims to provide financial support, mentoring, and strategic guidance to early-stage student or faculty-led start-ups. This collaborative approach aims to foster creativity and empower aspiring entrepreneurs to realize their dreams.

These measures are designed to empower students and faculty members to contribute to the country’s socio-economic growth through their innovative ideas and ventures. By fostering a culture of innovation and entrepreneurship in higher education institutions, India is paving the way for a more vibrant and sustainable start-up ecosystem in the UK and globally.