IIM-Visakhapatnam startup policy includes placement holiday, fund support

If in case, the entrepreneurial efforts of any student do not work out, the students, who have opted for deferred placements, can rejoin the campus placements.

The Indian Institute of Management, Visakhapatnam, for the very first time, has designed IIMV Supers (Smart Undeterred Passionate Entrepreneurs among Resident Students) programme for the students of its flagship residential PGP (MBA) programme. The institute has planned the Supers programme under the comprehensive ‘startup policy’ recently formulated by IIM-Visakhapatnam. The policy has been formulated to promote and build a robust innovation and startup ecosystem. This guiding framework has outlined the vision and objectives of the incubator of the institute.

Policy includes support provisions for students, faculty

The policy includes several support provisions for the students and faculty at IIM-V to nurture and support their innovation and entrepreneurship-related activities, according to TOI. The policy also framed guidelines regarding the services, activities, funding and support programmes that will be offered to external startup entrepreneurs and alumni.

Placement holiday for students upto two years

The Policy includes a provision that the PGP students can now opt for a break, to the maximum extent of one year, after completion of the first year of coursework requirements. This is to channelise their full-time efforts towards their respective ventures.

The student entrepreneurs may be given a placement holiday up to two years from the year of passing. If in case, the entrepreneurial efforts of any student do not work out, the students, who have opted for deferred placements, can rejoin the campus placements.

Speaking to TOI, director, IIM-Visakhapatnam, Prof M Chandrasekhar, said that ‘entrepreneurship development’ has now been made a core course for the PGP students, which was earlier an elective course. “This is to inculcate entrepreneurial spirit among the students. Secondly, students now have the option of devoting their full efforts on startups by taking a break in the second year as per the institute’s startup policy. The students can also pursue exploratory subjects related to entrepreneurship as part of their ‘course of independent study’. The student startups will also be provided financial support in the form of seed funding, prototype grant, etc.,” said Prof Chandrasekhar.

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