Newgen Iedc

India has witnessed an upsurge in terms of enterprises that are technology-driven and knowledge-based. Be it in the field of conventional businesses in IT and ITES, the sudden rise in the number of startups and new ventures has taken the country by surprise. Encouraged by the ecosystem that motivates them to chase their dreams, students are giving lesser preferences to the option of securing a job through campus placements. However, initial support to startups has been the one deterrent when it comes to the process of launching. Anticipating the current situation and to empower the younger generation to acclimatise themselves to an entrepreneurship and innovation culture, the Department of Science and Technology has initiated a programme called New Generation Innovation And Entrepreneurship Development Centre (Newgen Iedc).

New Generation Innovation And Entrepreneurship Development

NewGen IEDC is a programme launched by the National Science and Technology Entrepreneurship Development Board under the Department of Science and Technology, Government of India. This programme aims to inculcate the spirit of innovation and entrepreneurship among the Science and Technology youth, support and encourage the startup creation through proper guidance, mentorship and support. With the implementation of this program into academic institutions, students would be encouraged to take up innovative projects with the possibility of commercialisation. Newgen Iedc also has the intention to spread the message of entrepreneurship and to create the culture of entrepreneurship in the Host Institution. With the help of a trained faculty in the nuances of entrepreneurship, a vibrant entrepreneurship culture could be created among the students. This way, a few of the Job Seekers would be transformed into Job Generators by opting for the entrepreneurial route.

Mission of Newgen Iedc

The mission of Newgen Iedc is the following quote.

"To promote the knowledge-based and technology-driven startups by harnessing the minds of the youth and their potential for innovation in an academic environment."

Objectives of Newgen Iedc

The following are the key objectives of the Newgen Iedc programme.

To direct the energy and the knowledge of the youth towards the purpose of being active partners in the economic development process.
To promote and catalyse the development of innovation-driven and knowledge-based enterprises and to promote the employment opportunities among the youth mainly, students.
To inculcate a culture that embraces innovation-driven entrepreneurship.
To be an institutional mechanism to provide various services that includes information on every aspect of enterprise building to budding Science and Technology entrepreneurs.

Features of Newgen Iedc

The following are the essential features of the Newgen Iedc programme.

The Newgen Iedc programme is a five-year programme that would be implemented in an educational institution.
A maximum of 20 new projects would be supported in a year.
The projects should belong to the students and should comprise of a high degree of innovation and commercial viability.
The projects have the option to be multi-disciplinary in nature and must be executed by teams comprising of students drawn from different levels.
The projects must also be commercially viable in a high degree in order to be a potential startup by the students.

Functions of Newgen Iedc

Below are the functions of the Newgen Iedc programme.

To support, motivate and mentor the students for identification, development and commercialisation of their own innovative ideas.
To initiate a targeted number of innovative student projects every year for the development of a new project.
To organise Business Plan Competitions, Innovation Camps and Hackathons for the purpose of active involvement of the industry and alumni.
To assist and guide prospective entrepreneurs on multiple aspects like preparing project reports, obtaining approvals for projects, loans and facilities from agencies of the support system, information on technologies and so on.
To arrange interactions with bankers, entrepreneurs, professionals and potential customers and to create a mentorship scheme for student innovators.
To facilitate the creation of an entrepreneur's club/ E-Cells in the college in order to foster a culture that supports entrepreneurship among the youth.

Criteria for Institution Selection

The following are the conditions that have to be fulfilled by an institution in order to set up Newgen Iedc.

The institution must be a University, Deemed University, Premier Institutes or Colleges that offer courses in Engineering, Science or Technology at the degree level or above for a period of at least 5 years. For a college or institute, it must be duly recognised, affiliated, whereas, for private institutions, it must be supported by a Trust or a Society registered under the relevant Acts besides being recognised or affiliated to AICTE or Universities.
Qualified and dedicated faculty in different disciplines along with a proper Research and Development base and background in the industry related activities, must be accessible.
Availability of at least two faculty members trained in Entrepreneurship through the DST sponsored Faculty Development Programme.
A minimum of 5000 sq. ft. of an area dedicated to housing the Newgen Iedc with the access to facilities like water, electricity, telephone and internet connectivity.
Availability of laboratories, workshops and computational facilities. Library with a great collection of journals and books.
Experience in the Entrepreneurship Development and Promotion and Industry related activities like Consultancy, Testing, Product Development, Calibration and so on.

Budget and Funding

Funding Mechanism & Financial Guidelines

The Host Institution should submit the proposal to set up a NewGen IEDC as per the notification to EDII, Ahmedabad. The financial assistance to the chosen institutions for the establishment of Newgen Iedc, towards its one-time establishment cost and recurring expenditures like Project Development Cost, Training, Travel and so on, up until 5 complete operational years would be provided.

Non-Recurring Grants

The NSTEDB would offer limited one-time non-recurring financial assistance to a maximum of INR 25 Lakhs. The non-recurring grants would be offered for the establishment cost, furnishing cubicles for startups, purchase of computers with printers, UPS, library books, laptop, journals, multimedia projector, office communication equipment and others like 3D printers, prototyping equipment or software and shared devices. The grants cannot be used for the funding of purchase of building or land.

Recurring Grants

The recurring budget would be provided for every year of operation for a maximum of 5 years. This maximum number of projects by students that would be supported are as follows:

Year	First	Second	Third	Fourth	Fifth	TOTAL
Number of Projects	10	15	20	20	20	85

Serial Number	Budget Head	Amount in INR Lakhs Per Annum (Maximum Project)
1	2	3	4	5
		(10)	(15)	(20)	(20)	(20)
1	Prototype Development Grant at INR 2.50 Lakhs per Project	25	37.5	50	50	50
2	Recurring Expenditure	10	10	10	10	10
	TOTAL	35	47.5	60	60	60

The recurring costs would include the honorarium to mentors and the Newgen Iedc co-ordinator, travel, expense for the advisory board and the review meetings, contingencies and miscellaneous expenditures. The Prototype Development Grant of INR 2.5 Lakhs per project would be used to cover the following expenditures.

A maximum amount of INR 25,000 to the mentor for the guidance provided to the project team.
A maximum amount of INR 25,000 per student group as a stipend.
An amount of INR 2 Lakhs for the cost of raw materials, prototype development cost, external vendor or consultant fees. If this amount crosses the stipulated amount of INR 2 Lakhs, then the additional expenditure would be borne by the student team, college or institute.

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Frequently Asked Questions

Common questions about NewGen IEDC: Fostering Innovation in India.

NewGen IEDC (New Generation Innovation and Entrepreneurship Development Centre) is a program launched by the National Science and Technology Entrepreneurship Development Board under the Department of Science and Technology, Government of India. It aims to promote innovation and entrepreneurship among science and technology students, and support the creation of startups through guidance, mentorship, and resources.

The key objectives of NewGen IEDC are to direct the energy and knowledge of youth towards economic development, promote innovation-driven and knowledge-based enterprises, create employment opportunities for students, inculcate a culture of innovation-driven entrepreneurship, and provide information and services to budding science and technology entrepreneurs.

NewGen IEDC supports a maximum of 20 new student projects per year that have a high degree of innovation and commercial viability. It provides funding for prototype development, recurring expenses, mentorship, and guidance on various aspects of starting a business.

To set up NewGen IEDC, an institution must be a university, deemed university, premier institute, or college offering engineering, science, or technology courses at the degree level or above for at least 5 years. It must also have qualified faculty, research and development facilities, experience in entrepreneurship development, and dedicated space for the center.

The Department of Science and Technology provides a one-time non-recurring grant of up to INR 25 lakhs for setting up the center, and recurring grants for project development, training, travel, and other expenses for up to 5 years, with a maximum of 20 projects supported per year.

For each student project, a maximum of INR 2.5 lakhs is provided as a Prototype Development Grant. This includes honorarium for mentors and students, and costs for raw materials, prototype development, and external consultants.

The key functions of NewGen IEDC include supporting and mentoring students in identifying, developing, and commercializing innovative ideas, organizing business plan competitions and innovation camps, assisting with project approvals and loans, facilitating interactions with industry experts and potential customers, and fostering an entrepreneurial culture on campus.

NewGen IEDC aims to spread the message of entrepreneurship and create a culture that embraces innovation-driven entrepreneurship on campus. It facilitates the creation of entrepreneur's clubs or E-Cells in the institution and organizes events that involve industry and alumni.

The essential features of NewGen IEDC include its implementation as a five-year program in an educational institution, supporting a maximum of 20 new projects per year that are multi-disciplinary, innovative, and commercially viable, executed by student teams from different levels, and aimed at potentially becoming startups.