NISP

Innovation and Entrepreneurship Development Centre

The vision of NISP is to promote student-driven innovations & start-ups and engage the students and faculty in innovation and start-up activities in the Institute.
The policy aims at enabling the Institute to build, streamline and strengthen the innovation and entrepreneurial ecosystem in the campus, and to make the Institute instrumental in leveraging the potential of science, student’s creative problem solving and entrepreneurial mindset, and promoting a strong intra and interinstitutional partnerships with ecosystem enablers and different stakeholders at regional, national and international level.
The entrepreneurial ecosystem in the Institute will play a key role in identifying, mentoring, nurturing the innovative and entrepreneurial potential of students, faculties, and staff, and transforming them into start-up entrepreneurs by providing avenues of funding, investment opportunities, and networking support to make the innovation and venture successful.

To set up a world-class incubation centre for supporting the young entrepreneurs to instill the start-ups.
To instill the practice of applying periodically for Intellectual Property rights (IPR).
To impart the need for innovative thinking among the faculty members and students of BIT.
To inculcate the skills required for students and faculty members to become a successful entrepreneur and to support the young entrepreneurs to instill the start-ups.

The Short-term objectives are framed for 3 years duration to fulfil the following:

Help student groups for prototyping their ideas.
Improve innovation, creativity, and design thinking among the student community.
Effective utilization of leading-edge technology.
Incubation facility for faculty-driven start-up and student/Alumni start-up.
Organize FDP, seminars, and workshops, invite talks for students, faculty, and alumni and promote entrepreneurial culture.
Strengthen interaction between institute and industry.
Conduct professional training programs frequently for the students to enrich their entrepreneurship skills.
Promote and support IPR activities in the Institute.

NISP

The long-term objectives are for 5 years to meet the following:

Attract start-ups from external persons, and develop at least 10 start-ups in the next five-year time period.
Bring external funding from potential government departments (state and central) such as DST, DBT, MHRD, AICTE, Start-up India, Invest India, MSME, etc,. and also, from non-governmental sources.
The Institute should also explore the possibility to raise funding through sponsorships and donations.
Engage alumni network for promoting Innovation & Entrepreneurship (I&E).
Improve the quality of research work among students and explore attaining patents that can be commercially used in production.
Provide a platform for students to develop innovative products with global recognition for generating business opportunities.
Develop awareness, and motivate students and faculties on IPR related activities. 8. Create an innovation pipeline and pathway for entrepreneurs at the Institute level to ensure exposure of maximum students for innovation, and pre-incubation activities at their early stage.

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