MRCET NISP(National INNOVATION and STARTUP Policy)

A college must be a place where students should have an opportunity to explore their innate talents. Engineers start thinking out of the box when they come across new technologies where amazing ideas generate, which make the world move fast and further. These ideas need backend assistance, and if the college provides that support then students can create wonders. If I open a corner grocery store, I will not describe it as a startup. A startup is a new company. Entrepreneurs are founders who recently set it up and it is now doing business. We tend to use this term for companies that investors, especially venture capitalists, will become interested in. An entrepreneur is a person who identifies a problem and then creates a company or business venture to solve it.

 MRCET Creating Entrepreneurs: 

Research and Development are an integral part of the academic activities of MallaReddy College of Engineering and Technology. MRCET R&D cell(Research and Development) is one of the wings of the Institute which facilitates, and sponsors, collaborative research projects and works in the Institute. “The National Innovation and Startup Policy (NISP)” was framed by the Ministry of Education (MoE) in 2019. This will enable the students, faculties and staff to actively engage in innovation and entrepreneurship-related activities enabling the creation of a robust innovation and Startup ecosystem at MRCET. 

Vision- 

1. To establish a world-class hub for Technology Innovation and an ample house for Startups. 

Mission-

 1. To create a vibrant Startup ecosystem in Telangana state for global economic growth, through innovation, entrepreneurship-driven employment and facility creation for Startups.  

Action Plan: 

  1. Students will be provided with a provision to establish their startups with the support of the entrepreneurship cell available in the institute.

  2. There will be a committee constituted by the institution to review start-ups by students and their progress frequently, and based on its report, Student entrepreneurs may be considered for giving appropriate credits for academics. They can also utilize all available resources within the institute to establish start-ups.

  3. Accommodation will be provided within the campus to the student and faculty entrepreneurs for a specific period of time for working towards the development of the startup.

  4. Incubation facility of MRCET would be accessible 24x7 to students, staff and faculty of all departments across the institution. 

  5. The institute would also offer mentoring and other relevant services through Pre-incubation/Incubation. 

  6. The institution will consider giving all arrangements for the mentors during their visit to startups. International exchange programs, internships, and engaging the international faculties in teaching and research are also promoted.

  7. For Financial Assistance the institution will provide an Investment depending on the slab and available funds of the total annual budget for entrepreneurial activities for supporting innovation, startups related activities. 

  8. MRCET will give an ‘INNOVATION & ENTREPRENEURSHIP AWARD’ to recognize outstanding ideas, successful enterprises and contributors to promoting innovation. 

  9. For creating awareness among the students, case studies on business failure and real-life experience reports by startups will be included in the teaching methods. 

 10. To establish global connectivity the startups will be supported to partner with International Governments and global networks to promote exchange programmes. 

 Student Entrepreneurs just need to have a marvellous idea and a systematic action plan, MRCET promises to “Accelerate” and take it to next level.