1. Introduction
The Incubation and Startup Cell (ISC) at St. Francis College is designed to foster a culture of entrepreneurship and innovation by providing support, resources, and mentorship to students, faculty, and alumni aspiring to create successful startups. This policy outlines the objectives, processes, and guidelines for the incubation and support of startup ventures within the institution.
2. Vision
To cultivate a dynamic and collaborative ecosystem that nurtures innovation and transforms ideas into successful enterprises, contributing to economic and social development.
3. Mission
• Promote innovation and entrepreneurship across the academic community.
• Provide comprehensive support and resources to nurture ideas into scalable businesses.
• Foster collaboration between academia, industry, and startups to address real-world problems.
• Create a platform that offers mentorship, networking, and funding opportunities for startups at different stages of development.
• Encourage the commercialization of research-driven ideas.
4. Objectives
• Promote Entrepreneurship: Encourage students, faculty, and alumni to explore entrepreneurial opportunities.
• Support Idea Incubation: Provide mentorship, infrastructure, and resources to incubate high-potential ideas.
• Facilitate Industry-Academia Collaboration: Promote partnerships with industry to leverage expertise and resources.
• Offer Funding Support: Assist startups in accessing seed funding, grants, and investment through institutional networks.
• Enhance Entrepreneurial Skills: Organize workshops, seminars, and training sessions to enhance entrepreneurial and business management skills.
5. Core Functions of the Incubation Cell
• Idea Generation and Screening: Encourage ideation through hackathons, pitch competitions, and business plan submissions. Ideas are evaluated based on their innovation, scalability, and social/economic impact.
• Pre-Incubation Support: Offer workshops, mentorship, and initial support to develop and refine the business concept and prepare it for incubation.
• Incubation Support: Provide infrastructure, co-working space, business support, and mentorship for startups at various stages. Support includes assistance with business modeling, legal issues, and market strategy.
• Networking and Mentorship: Facilitate connections with industry mentors, alumni, investors, and venture capitalists to support the startup ecosystem.
• Infrastructure and Resources: Offer access to labs, prototyping facilities, office space, and technical resources essential for product development.
• Funding and Investor Linkages: Help startups access seed funding, venture capital, angel investors, and government grants.
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