IITs and IIMs collaborate to launch consortium to boost India's entrepreneurship ecosystem

IIT Bombay, IIT Madras, IIM Bangalore, IIM Kozhikode, and IIM Calcutta are the founding members of the consortium known as 'Innovation-Venturing and Entrepreneurship in India Network (iVEIN).'

India’s prestigious management and technical institutes are coming together to launch a consortium to boost the Indian entrepreneurship ecosystem via high-quality research in entrepreneurship, innovation, and venturing.

IIT Bombay, IIT Madras, IIM Bangalore, IIM Kozhikode, and IIM Calcutta are the founding members of the consortium known as 'Innovation-Venturing and Entrepreneurship in India Network (iVEIN).' The network of the institution will not only leverage the strength of the partners but also work with other stakeholders like the government, incubators, and investors to disseminate and generate knowledge.

On 15^th February 2020, during an event 'Dialogue with Stakeholders' held by SINE (Society for Innovation and Entrepreneurship) at IIT Bombay, iVEIN was launched on.

Professor A Thillai Rajan, Department of Management Studies, IIT Madras, who is also the coordinator of the initiative expressed that Innovation, venturing and entrepreneurship play an important role in the economic growth of the country and are also the key ingredients to strengthen India’s position as an innovation country. This is the reason why these three areas are getting increasing attention from the policymakers.

He further added that the iVEIN network will create avenues for dissemination of the relevant knowledge through conferences and journal publications and will also provide high-quality research in this field among India’s academic fraternity.

Talking about the initiative, Professor B Ravi, head of the Desai Sethi School of Entrepreneurship at IIT Bombay said that India’s premier institutes are actively nurturing entrepreneurship and innovation.

The initiative will not only give a research platform but will also boost and promote startups. Multiple objectives are linked with the iVEIN network. From helping in formulating effective policy at multiple levels to tracking the contours of the vibrant innovation, venturing, and entrepreneurship segment in the country and developing a holistic and analytical narrative on the dynamics that drive the development in these areas, iVEIN network has been constructed considering many such objectives.

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