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Best Practices - 1

Creating a Start-up Ecosystem at the University

The Context

Quantum from its inception has made sure that it focusses on creating a positive environment for a start-up ecosystem, creating an environment where students can not only learn about entrepreneurship but also actively engage in creating and growing their own start-ups can have numerous positive effects. Its growing importance can be attributed to several factors that highlight the evolving nature of education, and the role of universities in shaping students' futures.

Objectives of the Practice

Quantum University's efforts in building a start-up ecosystem is providing students with valuable opportunities to learn, grow, and contribute to the entrepreneurial landscape. As these start-ups continue to evolve, they have the potential to make a lasting impact, both within the university and beyond. The objective of this practice it to transfer the following benefits to the students and creating a vibrant start-up ecosystem: -

It’s clear that Quantum University's efforts in building a startup ecosystem are providing students with valuable opportunities to learn, grow, and contribute to the entrepreneurial landscape. As these startups continue to evolve, they have the potential to make a lasting impact, both within the university and beyond.

The Practice

Curricular Reforms: A MINOR program in Entrepreneurship was introduced for the students to choose any MINOR in their 4th semester continuing to 6th Semester. They complete 6 courses / 18 credits in Entrepreneurship. School of Business at Quantum University offers interested students entrepreneurship MINOR to learn and acquire knowledge via modules through regular classes, master classes, boot camps, webinars, presentations, idea pitching etc.

Setting up of an Incubation Centre: The Genesis – QU Innovation Council (QUIC) is established to encourage research, innovation and entrepreneurship and for easy creation and nurturing of Start-ups/enterprises by students, faculty, alumni and potential start-up applicants even from outside the institution, to help create an entrepreneurial environment in the institution. It has been established as a section 8 company registered under the Companies Act 2013, to promote entrepreneurship and thereby facilitate practical application of knowledge for public use.

Incubation Facility

Challenges
Solutions
Evidence of Success
  • Registered State Incubation Center:
    • Recognition by Startup Uttarakhand (Dept. of Industries, Govt. of Uttarakhand).
    • Affiliation as a registered State business incubator by the Ministry of Micro, Small, and Medium Enterprises (MSME).
  • Access to Government Initiatives:
    • Acknowledgment by MSME grants access to government initiatives, resources, and networks.
    • Amplifies capacity to nurture and propel startups to success.
  • Affiliation Benefits:
    • Validates commitment towards entrepreneurial ecosystem.
    • Opens avenues for collaboration with industry experts, policymakers, and stakeholders.
    • Reflects organizational excellence, mentorship programs, and positive impact on startups.
  • Startups Thriving Under Genesis Incubator:
    • Nine working startups currently incubated.
    • Dynamic hub for entrepreneurial endeavours.
  • Startup Achievements:
    • Zeromonk, incubated startup, secures top 10 position in Startup Grand Challenge 2023.
    • Vetcurekart secures first place in Agri-pitch competition organized by ISAB Noida, showcasing tangible results of incubation.
  • Mentoring Sessions and Tangible Results:
    • One-on-one mentoring sessions provided by seasoned entrepreneurs.
    • Highlights incubator's role in nurturing standout ventures and positioning startups in the broader ecosystem.
  • National-Level Pitching Event:
    • Quantum University organized Bharat Pitchathon in 2022 and 2023.
    • Entrepreneurs showcase innovative ideas to a seasoned panel of investors.
    • Top 3 startups recognized as among the "Top 75 Startups to Watch Out for in India."
  • Financial Support and Grant Awards:
    • Quantum University awards grants to six idea-stage startups.
    • Each startup receives a grant of 50,000 INR for prototype development and validation.
    • Showcases dedication to translating innovative ideas into viable businesses.
  • Contributions to Entrepreneurial Ecosystem:
    • Multifaceted achievements underscore the symbiotic relationship between Quantum University and the Genesis Incubator.
    • Emphasizes joint contribution to the thriving entrepreneurial ecosystem in Uttarakhand and beyond.
  • Incubation Space –Quantum University has allocated more than 12000 SQFT. of dedicated space for the incubation center and co working space facility. Here is the floor plan of the proposed center.
Benefits for the Students