NISP Refresher Session on "Design Effective Innovation & Startup Policy in HEI's"
16th February 2023
NISP Refresher Session on “Design Effective Innovation & Startup Policy in HEI’s” was attended by Innovation Ambassadors along with students of Dronacharya College of Engineering, Gurugram on 16th February, 2023.
Keynote speaker of the session was Mr. Dipan Sahu (Assistant Innovation Director, MIC). He started the session by explaining about market, market failure and the factors leading to market failure. He underlined the fact the market operates in a natural manner and all the innovations must be carried out keeping the expectations of the market. He also said, critical thinking is a vital factor for producing the desired results. Moving further, he explained the concept by giving examples of Innovation and Startups, the difficulties involved with flourishing which in a nut shell are ineffective designs, plans and ideas. Moving further, he said, intervention of government, government organizations and big organizations are necessary for startups to flourish.
He then took the session forward and discussed ‘Policy document’ which in simple words gives vision and direction to the innovators. He also discussed the levels of Policy formulation that could be divided into Micro and Macro levels. Then he underlined two major reforms that happened in the education industry, viz: NEP and NISP. Speaking about NEP, he said there is a reduction in the curriculum in order to give space for critical and experiential learning.
He continued the session and briefed NISP. He explained, it is a policy intending to guide HEI’s to promote students and faculty driven innovations and startups in HEI’s. He highlighted the features of NISP, told about budget allocation of minimum 1% of institution’s total budget, 2%-9.5% equity stake by the Institute’s Incubator in case of using Institute’s facilities/resources. He also suggested providing break for carrying innovation activities and allowing students and faculties to re-join the institute. Proper recognition and rewarding mechanism must also be set up as a part of policy formulation. He also laid stress upon setting up of pre-incubation and incubation facility at the institute’s level and also suggested that both must go in a coordinated manner.
Moving further, he said, the innovation entrepreneurship must not only be used to put in CV (for faculty) or getting a job (for student). This must be carried in a continued manner. He also gave hint upon decrement in IP filing rates and also clarified that institute cannot claim ownership of the invention thus made.
He advised, institute to make their own Innovation Policy by taking reference of NISP document. In the end, he explained how NISP and ARIIA are interconnected.