IIT Kanpur forms policy to promote innovation, entrepreneurship among students

The Indian Institute of Technology (IIT) Kanpur has formed Students Entrepreneurship Policy to foster innovation and entrepreneurial spirit among the students. 

IIT Kanpur announced that its academic senate approved the comprehensive policy that recognises the importance of fostering innovation and entrepreneurial spirit among the students in line with the National Education Policy (NEP) and National Innovation and Start-up Policy (NISP).  

The policy introduces the path-breaking concept of ‘Innovation and Entrepreneurship Credit’, which will enable students to pursue their innovation and entrepreneurial aspirations as part of their academic journey while pursuing their degrees. The policy allows undergraduate students in third year and the postgraduate students immediately after completion of the minimum course work to gain academic credit while pursuing entrepreneurial activities. The students can also avail of semester leave to pursue their ideas by using facilities both inside and outside the campus.  

It empowers all stakeholders, with a clear objective of promoting entrepreneurial spirit, and yet not diluting the academic standards and pedagogical goals. The policy provides tremendous impetus to the vibrant entrepreneurship ecosystem, which already exists at the institute.  

IIT Kanpur houses the largest ecosystem within the Asian region comprising 11 incubators, five state-of-the-art prototype, and tinkering laboratories, and an advanced science & technology park. This ecosystem currently supports and nurtures more than 100 startups and has been successful in graduating more than 50 startups, including a few unicorns. This ecosystem will play a significant role in accelerating and implementing the current policy and benefiting the student and research community on campus. 

Prof Abhay Karandikar, Director, IIT Kanpur, said, “The challenges of modern industry require students to evolve from passive learners to creators and innovators. This requires universities to be venues where entrepreneurship is fostered in young people, a place where creative ideas spark that can lead to innovations of the future, contributing to realising India’s real innovation and entrepreneurship potential.” 

He said, “A robust Students’ Entrepreneurship Policy will allow our students to keep pace with the demands of a rapidly developing world. We are one of the first central funded technical institutes to frame such a comprehensive policy.” 

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