Revolution in Indian Education -"National Student and Faculty Startup policy 2019"

HRD ministry releases first draft of policy to boost student entrepreneurship

The Ministry of Human Resources released the first draft of the ‘National Innovation and Start-up’ policy, which aims to encourage entrepreneurship among students through facilities provided by higher education institutions in the country.

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In India, innovation is still not the epicenter of education. In order to achieve the cultural and attitudinal shift and to ensure that ‘Innovation and Startup’ culture is the primary fulcrum of our higher education system a policy framework and guidelines are the need of this hour. 

The Ministry of Human Resources released the first draft of the ‘National Innovation and Start-up’ policy, which aims to encourage entrepreneurship among students through facilities provided by higher education institutions in the country. If the proposal is implemented, it will require the institutions to set up provisions for the fledgling businesses like attendance waivers and academic credit to work on business models.

The 'National Student and Faculty Startup policy 2019' is a guiding framework to envision an educational system oriented towards start ups and entrepreneurship opportunities for student and faculties. The guidelines provide ways to Indian HEIs (higher education institutions) for developing entrepreneurial agenda, managing Intellectual Property Rights (IPR) ownership, technology licensing and equity sharing in Startups or enterprises established by faculty and students.

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Key highlights of the guidelines: 

1.) A minimum of one percent of the institution’s budget is to be allocated to nurturing businesses on-campus.

2.) Institution have to create pre-incubation and incubation facilities for nurturing innovations and startups eg : startupcell /TBI / MHRD’s Innovation Cell/ EDC/ IEDC/ New-Gen IEDC/ Innovation Cell, etc

3.) Start a part-time/full time MS/ MBA/ PGDM (Innovation, entrepreneurship and venture development) program where one can get degree while incubating and nurturing a startup company.

4.) Entrepreneurship education will be imparted to students at curricular/ co-curricular/ extracurricular level through elective/ short term or long-term courses on innovation, entrepreneurship and venture development.

5.) Students and faculty will be allowed licensing of Intellectual Property Rights from the institute.

6.) Students will be allowed to work part-time for the startups during their study.

7.) Institutes can take up to 9.5 percent equity stake in the startup based on the support provided.

8.) Students and faculty will be allowed to use the institute’s postal address to register the their startups.

9.) Student entrepreneurs will be allowed to sit for exams even if their attendance is less than the minimum required percentage.

10.)All this will be with due permission from the institute.

11.) Student clubs/ bodies/ departments must be created for organizing competitions, bootcamps, workshops, awards, etc

12.) For creating awareness among the students, the teaching methods should include case studies on business failure and real-life experience reports by startups.

13.) Students and faculty will also be allowed to take a year’s break to work on their startups and then resume academics.

14.) Institutes should start annual ‘INNOVATION & ENTREPRENEURSHIP AWARD’ to recognize outstanding ideas, successful enterprises

Download "National Student and Faculty Startup policy 2019"