DAVV-IET to house MSME incubation centre, focus on student startups & funding

Indore: Engineering students with startup ambitions will soon get a dedicated platform for innovation and entrepreneurship as Devi Ahilya Vishwavidyalaya’s Institute of Engineering and Technology (IET) is set to host a government-backed MSME Innovation-cum-Incubation Centre (MIIC).

The centre will be established under an agreement between Madhya Pradesh Laghu Udyog Nigam Limited (MPLUN), Bhopal, and IET-DAVV. Unlike most existing incubation facilities that cater primarily to students of a single institution, the new centre is expected to benefit engineering students from more than 35 colleges across Indore, covering a student base of over 23,000.

Around 2,500 square feet of space has been earmarked within the IET campus for the facility. The centre will provide end-to-end support to aspiring entrepreneurs, including mentoring, documentation assistance, project proposal preparation, training, and guidance in securing funding. Dedicated experts will be available to help students convert innovative ideas into viable business ventures.

An initial budget of Rs 80 lakh has been sanctioned for infrastructure, furniture and other facilities. Additional funding support for promising startup projects will be arranged through separate allocations as well as various state and central government schemes.

The centre will also provide access to advanced equipment, research laboratories, industry networking opportunities and business development support. Students and alumni from all engineering branches will be eligible to seek assistance.

IET director Dr Pratosh Bansal said that the initiative would strengthen innovation, entrepreneurship and startup culture while providing technical and business support to the MSME sector. Senior Mechanical Engineering professor Prof Ashesh Tiwari has been appointed as the centre’s in-charge.

One of the key objectives of the facility is to help launch at least 20 new enterprises every year. Specially selected startup teams will receive support through boot camps, hackathons, workshops, pitching sessions and entrepreneurship development programmes.

DAVV vice-chancellor Prof Rakesh Singhai said that the centre would work towards connecting students, researchers and local industries on a common platform to accelerate innovation-driven growth.