The Technology Business Incubator (TBI) of SRM University-AP has launched its first venture cohort with 36 selected start-up companies.
The Head of Co-Innovation and Public Relations at IIIT-Hyderabad and former Chief Innovation Officer of the Telangana State Innovation Cell (TSIC), Prof. Ramesh Loganathan, gave insights into the scope and future of entrepreneurship in the country and around the world. “The entrepreneurial journey should start with identifying the problems in the ecosystem. The facial recognition software that started with the idea of tracking college student attendance is a good example. Aspiring entrepreneurs should identify similar issues, do a thorough market research, and then come up with the business plan. The price of the product / idea should come into play last, ”he said.
The university’s vice chancellor VS Rao said the university has focused from the beginning on promoting students as entrepreneurs who could be tomorrow’s leaders. He said the university signed an MoU with the University of California, Berkeley to help design the curriculum and promote entrepreneurship.
Prakash Jadav, director of the Academy of Innovation, Design and Entrepreneurship (IDEA), which the university established as part of a strategic alliance with the US university to promote the culture of entrepreneurship among students, said it was exciting to to see so many students who submit their business ideas in the first business cohort.
From the 62 teams of 192 students who applied, 36 teams were selected to be part of the first cohort of the RM TBI. The selected companies will be mentored and supported for 12 months, including infrastructure facilities, mentoring and network support, support for seed funds and innovation funds, hardware and software, industry connectivity, learning resources and market exposure.
The CEO, SRM TBI and Associate Director, Entrepreneurship, Udayan Bakshi and others were also in attendance.