Entrepreneurs are the catalysts for bringing economic development for their respective nations of origin. While taking a risk for themselves, they choose not to be merely a job seeker after completing their academic learning which is considered a safer option; an entrepreneur chooses to be a job creator by making his or her smart & innovative idea into a reality and hence creating job opportunities for many others. Chandigarh University has taken an initiative to inculcate entrepreneurship skills amongst its students so that a pool of next-generation Indian entrepreneurs can make India a technological and economic powerhouse.
“Chandigarh University has set-up a Technology Business Incubator (CU-TBI) at its campus to foster the spirit & skills of entrepreneurship amongst its students and we have witnessed outstanding results in the last three years,” said Satnam Singh Sandhu, Chancellor, Chandigarh University. CU-TBI has been successful in establishing 103 start-ups by the university students of different departments ever since its inception in the year 2016. “We are working towards the realization of Prime Minister Narendra Modi’s dream of ‘Make in India’ and ‘Start-up India, ‘Stand-up India’ by preparing a pool of next generation of young entrepreneurs who through their innovative business ideas have the ability make Self-Reliant India,” added Satnam Singh Sandhu. Chandigarh University has reserved an annual fund of Rs. 1.5 Crores to finance new start-ups and the university organizes National Level Innovation Day Competition on the birth anniversary of former President and Scientists Dr. A.P.J Abdul Kalam which encourages the Indian Youth to participate with new business ideas and proposal each year.
While giving details about the start-ups at CU-TBI, Dr. R.S.Bawa, Pro-Chancellor, Chandigarh University, said, “The highest number of 30 start-ups has been established by our students has been in the field of Automobile Engineering which is followed by 20 start-ups in the field of Computer Science Engineering.” The business ideas of the students are examined by an expert committee comprising of successful Indian Entrepreneurs, Scientists of Department of Science & Technology, Government of India, Angel Investors and members of PSU Banks like SIDBI, IDBI and others who evaluate the projects on the basis of various parameters.
“Young Entrepreneurs at CU-TBI are given every possible support in the form of training, assistance to get financial support from banks & other government agencies, registration of their companies, providing infrastructure and other resource support to the students so that they are able to sustain during the initial years of the establishment of their respective ventures,” said Dr. Bawa. Seeing the response of the students, we are sure that Chandigarh Technology Business Incubator will be able to establish 200+ start-ups in the next two years,” added Dr. Bawa.
