In last few years India has seen phenomenal economic rise and also proven its dominance in the technology related fields on the Global scale. In order to sustain this growth in an ever changing, ever challenging Global business environment, the speedy translation of Innovative ideas into product, processes and series for the market is the need of the hour.
In response to this, RIT has initiated setting up “Centre for Innovation, Incubation and Entrepreneurship Development” (CIIED) at a most propitious moment when Innovation, Incubation and Entrepreneurship are playing a vital role in shaping national economies.
CIIED provides an ecosystem for early stage techno-stratups, which contributes to Social and Strategic sectors besides being responsible for generating employments and economic value. This mechanism will help our students, faculty and nearby community to turn their entrepreneurial vision into reality through an incubation experience.
CIIED fosters innovation driven entrepreneurship through incubation by utilizing RIT’s existing physical infrastructure and expertise for training, Idea generation, prototype development, preparing Business plan and model helping disruptive innovations (Winnovations) and aspiring entrepreneurs succeed commercially. We believe that entrepreneurship is the key that can unlock India's latent inventive potential. It will not only push India to the forefront of the world but also help raise the quality of life in the country.
CIIED’s true strength lies in its ability to accelerate the development of young entrepreneurial companies from the Idea stage to independent self-sustaining successful business. This centre should be able to guide, mentor and grow the promising start ups as fast as possible. In the incubator operations, speed is vital and networking support is critical.
With this belief the CIIED - Entrepreneurship Cell, targets to help in the development of RIT's entrepreneurial ecosystem by enabling easy and efficient interaction between its major components spanning students, working professionals, aspiring and existing entrepreneurs, mentors, angel investors, venture capital firms and corporate through initiatives like interactive sessions, competitions, conferences.
1. Work on R&D for Industry mainly for local small and medium enterprises.
2. Address local problems & find innovative and viable solutions.
3. Promote culture of IPR, Technology Transfer & Commercialisation.
4. Nurture and promote creative ideas for its conversion into successful products & Technologies.
5. Interfacing and networking between Academic, R&D institutions, Industries and Financial Institutions.
6. Create new techno-start ups.