NISP POLICY 2024

(ALIGNED WITH NISP 2019)

1. Strategies and Governance
   1. Investment (Minimum 1% ) in the innovation, entrepreneurial & startups related activities from the fund of the total annual budget of the institution.
   2. Raising funds from diverse sources i.e Bringing up external funding through government (state and central) such as DST, DBT, MHRD, AICTE, TDB, TIFAC, DSIR, CSIR, BIRAC, NSTEDB, NRDC, Startup India, Invest India, MeitY, MSDE, MSME, etc. and non-government sources.
   3. Support technology incubators, from funds generated through private and corporate sectors, under Corporate Social Responsibility (CSR) as per Section 135 of the Company Act 2013.
   4. Active engagement of alumni network for promoting Innovation & Entrepreneurship (I&E).
   5. Conduct of institutional programs such as conferences, convocations, workshops, etc. for imparting Importance of innovation and entrepreneurial agenda across the institute and should be promoted and highlighted.
2. Startups Enabling Institutional Infrastructure
1. Creation of pre-incubation and incubation facilities (e.g. IICs as per the guidelines by MHRD’s Innovation Cell, EDC, IEDC, New-Gen IEDC, Innovation Cell, Startup Cell, Student Clubs, etc) for nurturing innovations and startups at the institute should be undertaken.
3. Nurturing Innovations and Start ups
   1. Getting approval from DOTE for establishing processes and mechanisms for easy creation and nurturing of Start ups/enterprises by students (UG, PG, Ph.D.), staff (including temporary or project staff), faculty, alumni and potential start up applicants even from outside the institutions.
4. Product Ownership Rights for Technologies Developed at Institute
   1. IPR is to be jointly owned by inventors and the institute, when institute facilities / funds are used substantially or when IPR is developed as a part of curriculum/ academic activity,.
   2. Inventors and institute could together license the product / IPR to any commercial organisation, with inventors having the primary say.
   3. License fees could be either / or a mix of
      1. Upfront fees or one-time technology transfer fees
      2. Royalty as a percentage of sale-price
      3. Shares in the company licensing the product
   4. On the other hand, if product/ IPR is developed by innovators not using any institute facilities, outside office hours (for staff and faculty) or not as a part of curriculum by student, then product/ IPR will be entirely owned by inventors in proportion to the contributions made by them.
   5. If there is a dispute in ownership, a minimum five member committee consisting of two faculty members (having developed sufficient IPR and translated to commercialization), two of the institute’s alumni/ industry experts (having experience in technology commercialization) and one legal advisor with experience in IPR, will examine the issue after meeting the inventors and help them settle this, hopefully to everybody’s satisfaction. Institute can use alumni/ faculty of other institutes as members, if they cannot find sufficiently experienced alumni / faculty of their own.
5. Organizational Capacity, Human Resources and Incentives
   1. Sponsoring Faculty and staff to do courses on innovation, entrepreneurship management and venture development
   2. Adopting Academic and non-academic incentives and reward mechanisms for all staff and stakeholders who actively contribute and support entrepreneurship agenda and activities.
      1. The reward system for the staff may include sabbaticals, office and lab space for entrepreneurial activities, reduced teaching loads, awards, trainings, etc
      2. The recognition of the stakeholders may include offering use of facilities and services, strategy for shared risk, as guest teachers, fellowships, associateships, etc.
      3. A performance matrix should be developed and used for evaluation of annual performance
6. Creating Innovation Pipeline and Pathways for Entrepreneurs at Institute Level
   1. Establishing proper mechanisms at institution level, for the exposure of innovation and pre incubation activities at their early stage and to support the pathway from ideation to innovation to market to maximum students.
      1. Spreading awareness among students, faculty and staff about the value of entrepreneurship and its role in career development or employability through EDC
      2. Students/ staff should be taught that innovation (technology, process or business innovation) is a mechanism to solve the problems of the society and consumers through innovate TN lab. Entrepreneurs should innovate with focus on the market niche.
      3. Students should be encouraged to develop entrepreneurial mindset through experiential learning by exposing them to training in cognitive skills (e.g. design thinking, critical thinking, etc.), through various cells of the institute by inviting first generation local entrepreneurs or experts to address young minds. Initiatives like idea and innovation competitions, hackathons, workshops, bootcamps, seminars, conferences, exhibitions, mentoring by academic and industry personnel, throwing real life challenges, awards and recognition should be routinely organized.
      4. To prepare the students for creating the start up through the education, integration of education activities with enterprise-related activities.
   2. Providing support to students who show potential, in pre-startup phase.
   3. Connecting student entrepreneurs with real life entrepreneurs to help the students in understanding real challenges.
   4. IICs should guide institutions in conducting various activities related to innovation, startup and entrepreneurship development. Collective and concentrated efforts should be undertaken to identify, scout, acknowledge, support and reward proven student ideas and innovations and to further facilitate their entrepreneurial journey.
7. Norms for Faculty Startups

   Getting approval from DOTE, for norms for faculty to do startups should

8. Pedagogy and Learning Interventions for Entrepreneurship Development

   Promoting cross disciplinary learning using mentors, labs, case studies, games, etc. in place of traditional lecture-based delivery.

9. Collaboration, Co-creation, Business Relationships and Knowledge Exchange

   Organize networking events for better engagement of collaborators and should open up the opportunities for staff, faculty and students to allow constant flow of ideas and knowledge through meetings, workshops, space for collaboration, lectures, etc

10. Entrepreneurial Impact Assessment

    Impact assessment of institute’s for the entrepreneurial initiatives such as pre-incubation, incubation, entrepreneurship education should be done annually using well defined evaluation parameters