National Innovation and Startup Policy (NISP)

ABSTRACT

The ‘National Student and Faculty Startup Policy(NISP) play a vital role in developing entrepreneurial agenda, managing Intellectual Property Rights (IPR)ownership. It also helps technology licensing, and equity sharing in Start-ups or enterprises established by faculty and student. It propels the faculty and students through and beyond the 21st century in innovation and entrepreneurship. Policy is a guiding framework to envision an educational system oriented towards start-ups and entrepreneurship opportunities for student and faculties. The 'National Student and Faculty Startup Policy-2021' is initiated by MHRD’s Innovation Cell and AICTE.

The goal National Innovation and Startup Policy (NISP) at Malla Reddy Institute of Technology and Science is to promote, support and encourage the technology based entrepreneurship among the graduated and graduating students.

INTRODUCTION

Several steps have been taken by the Ministry of Education (MoE), Govt. of India to promote a culture of innovation and entrepreneurship in higher education institutions (HEIs). To streamline the efforts at HEIs, MoE released the National Innovation and Startup Policy (NISP) – 2019 in the month of September 2019. The policy aims at enabling HEIs to build, streamline and strengthen the innovation and entrepreneurial ecosystem in campus and will be instrumental in leveraging the potential of science, student’s creative problem solving and entrepreneurial mind-set, and promoting a strong intra and inter-institutional partnerships with ecosystem enablers and different stakeholders at regional, national and international level. The entrepreneurial ecosystem in HEIs will play key role in identifying, mentoring, nurturing innovative and entrepreneurial potential of students, faculty and staff and transforming them into start-up entrepreneurs by provided avenues of funding, investment opportunities and networking support to make the innovation and venture successful.

MRITS- NISP

Vision

To promote the steadfast Engineers to do Innovations, become entrepreneur with Intellectual Property Rights to build the nation economy.

Mission

To facilitate a platform for innovative minds to transform their ideas into startup, entrepreneurship and Intellectual Property Rights (IPR) ownership.
To facilitate students to find Innovative solution for real life problem.
To encourage and stimulate campus startups in the Institution.

Short-term Objectives

To brainstorm students Ideas
To help students to implement their Ideas.
To develop creative and design thinking among student community with an objective to advance the innovation process.
In-house competency development to serve the potentiality of the incubators for faculty driven start-up and student/Alumni start-up.
To organize FDP, seminars and workshops for students, Faculty and Alumni.
To have institute’s industry interaction activities and use the outcome

Long-term Objectives

To associate with DST, CII, MSME for transferring world class facility for MRITS IIC activities.
Provide a proposal for students to develop innovative products and to generate production opportunities.
Improve quality of research work among students and to attain patent which can be commercially used in production.
To spread understanding to faculty and students regarding IPR related activities.
Strategic partnership linkage to procure fund from AICTE for IIC Cell.

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