Innovation and Entrepreneurship
For budding entrepreneurs, innovation is meant to turn their business vision into reality with their creative thinking and innovative problem solving. Over the past few years, India has emerged as the foundation head of Global Innovation with thousands of startups making it big, and many joining the coveted Unicorn club.
Sri Aurobindo Group has always been at the forefront to develop an ecosystem and culture of innovation in the institutes. The seeds of innovation have borne fruit with many of the alumni launching their successful startups over the years.
How Innovation aids Entrepreneurship: Entrepreneurship is supported by Innovation in following ways:
- Creative Development and Persistent Improvement of products and services.
- Brand Reinforcement.
- Creates a Unique Selling Point.
- Improvisation of existing products.
- Responding to Trends and Competition of the market and industry.
Sri Aurobindo Institute of Technology’s Institution
Innovation Council (SAIP - IIC)
Sri Aurobindo Institute of Pharmacy, Indore Institute Innovation Council (SAIP-IIC) has received a 4 Star rating from the Ministry of Education (MoE), Government of India. MoE has also declared SAIP-IIC as one of the top-performing IICs in the country.
SAIP is one of the pharmacy institutes in the entire Central Zone of AICTE to be badged by a 4-star ranking. The credit for this laurel goes to the events and activities like workshops, sessions, talks, and discussions, conducted by SAIP-IIC on entrepreneurship, startup, and innovation.
About SAIP- IIC
Aligning to the mission of the Ministry of Education, the Govt. of India's ‘Innovation cell’ (MIC) which is to systematically foster the culture of Innovation in all Higher Education Institutions (HEIs) across the country, Sri Aurobindo Institute of Pharmacy established Sri Aurobindo Institute of Pharmacy Institution's Innovation Council (SAIP - IIC).
SAIP - IIC aims to encourage, inspire and nurture young students by exposing them to new ideas and processes resulting in innovation and entrepreneurship. It will work under the MIC and will focus on creating a complete ecosystem that will foster the culture of innovation among the students from ideas generation to pre-incubation, incubation, and graduating from the incubator as successful start-ups.
To create a vibrant innovation ecosystem at the Institute.
Start-up supporting mechanism in SAIP.
Prepare institute for Atal Ranking of institutions on innovation achievements framework.
Establish a functional ecosystem for scouting ideas and pre-incubation of ideas.
Develop better cognitive ability among students.
Functions of IIC
To conduct various Innovations, IPR and entrepreneurship-related activities prescribed by MIC in time bound fashion.
Identify and reward innovations and share success stories.
Organize periodic workshops/ seminars/ interactions with entrepreneurs, investors, professionals and create a mentor pool for student innovators.
Network with peers and national entrepreneurship development organizations.
Create an Institution’s Innovation portal to highlight innovative projects carried out by institution’s faculty and students.
Organize Hackathons, idea competition, mini-challenges etc. with the involvement of industries.