Start-up Policy Guide

Start-up Definition:

Start-up means an entity that develops a business model based on either product innovation or service innovation and makes it scalable, replicable and self-reliant.

Introduction:

Start-ups are the support and lifeline of our economy and innovation across the globe. This will create jobs, new products, innovations, dreams or its overall process of business. They are led by entrepreneurs who work hard to bring their ideas for life. Often overshadowed by failure, they persist and can change the world. Start-ups are the student or teachers (owned) individuals or collaborative workers who start and contribute towards market growth, market development and create of job for others in the form of business. Presently, in India, few technological and entrepreneurship development institutions have initiated efforts to design Start-up Policies for student ventures on their campuses. Solapur University took up the task of designing the start-up guidelines and policy for campus schools / departments and affiliated colleges to increase the efforts and prepare students for entrepreneurship.

Objectives:

1. To encourage students to choose entrepreneurship as their careers.
2. To motivate students to convert their ideas and projects into viable business plan
3. To aware and prepare students, teachers individual or collaborative startups as they gain benefits from scheme 'Start-up India' programme, Government of India.
4. To form / develop a common platform and ask schools / departments or affiliated colleges to submit students' projects on this platform to make the project nationwide.
5. To train students about how they can conceptualize social business start-ups that deals with social issues.
6. To give handholding support to students for launching their startups during the entire course of their study.
7. To equip students with the necessary skills for managing their business enterprise.

Types of Start-ups:

1.Growth Stage Start-up or Entrepreneurs’ Start-up:

Mostly industries or entrepreneurs who are currently being incubated or otherwise which are into 3-5 years of their operation with substantial value creation / impact/ revenue/ customer base can apply or submit their proposal under this category.

2.Student / Early Stage Start-Up:

Student Start-up is a pre-incubation stage and started by one or more cofounders in his / her college days or started by an alumnus of same department of other institutes from the state or country. This start-up can be an individual / student or team of entrepreneurial students

3.Faculty Lead Start-up:

Entrepreneurial faculties who are currently counting their academic research profession in any institute in India may apply and submit their start-ups established by them as own or co-founder.

4.Institution supporting Start-ups:

Under this category, interested academic and research institutions (individual or collaboratively / MoUs) those are actively promoting and supporting innovation and startups in their campus and regions are eligible to submit their application as institution supporting startups.

Department of Science and Technology under Technology Business Incubators (TBIs) are proposed to be promoted in following selected thrust areas for startup which have potential for faster growth:

1. Information & Communication Technology (ICT)/Internet of Things (IOT)
2. Manufacturing
3. Healthcare
4. Clean-Tech
5. Energy
6. Agriculture and allied fields
7. Water
8. Services