The National Innovation and Start-up Policy (NISP) -2019 for students and faculty in Higher Educational Institutes (HEIs) was launched by Former Minister of Education, Shri Ramesh Pokhriyal ‘Nishank’ on 11th September 2019 at AICTE, New Delhi.
This policy intends to guide HEIs to promote student-driven innovations and start-ups and to engage the students and faculty in innovation and start-up activities in the campus. This 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 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. This policy is being implemented by the Ministry of Education (MoE’s) Innovation Cell in coordination with AICTE, UGC, State/ UT governments, and Universities. Implementation of policy has been undertaken for quick adoption by HEIs.
A fifteen membered committee was constituted by the Ministry of Human Resource Development to formulate detailed guidelines for various aspects related to innovation, Startup, and entrepreneurship management. This committee deliberated on various facets for nurturing the innovation and Startup culture in HEIs, which covered Intellectual Property ownership, revenue sharing mechanisms, norms for technology transfer and commercialization, equity sharing, etc. After multiple rounds of meetings, the National Innovation and Startup Policy 2019 for students and faculties of HEIs were prepared.
India aspires to become a 5 trillion-dollar economy by 2024. To reach the mark, it needs to evolve systems and mechanisms to convert the present demographic dividend into high-quality technical human resources capable of doing cutting-edge research and innovation and deep-tech entrepreneurship.
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 students and faculties.