University and college teachers may soon get special leave to mentor budding entrepreneurs, if a government plan to do so sees the light of the day.
The proposed move sabbatical scheme for college and university faculty will allow professors to take leave from routine teaching duty to mentor students and groom business ideas at an incubator.
The sabbatical scheme is part of the draft startup policy 2016 of the government for which the industries department has invited public objections and suggestions.
Start-up Draft Policy in a Nutshell
Incentives: The draft start-up policies promise one-time assistance of Rs 50 lakh to campuses for establishing incubators. Moreover, it also suggests a performance capital grant of Rs. 5 lakh for each successful start-up the institutions create
Eligibility: Both government and private educational institutions, which are at least five years old and have been approved by a state-level committee will be eligible for such aid.
Start-up Education: The draft policy also suggests introduction of courses in start-up education and entrepreneurship development at the school and college level.
Orientation: The industries department will facilitate deputation of faculty members to an industry for three to six months for closer professional and industrial contacts.
Startup Boost in Utkal University
Utkal Syndicate, the apex decision-making body of Utkal university, recently passed a resolution to create a corpus of Rs 27 lakh for startup research funding and another rupees eight lakh for research on out-of-box ideas by faculty members, who are below 45 years of age.
According to VC Ashok Das the concept of involving teachers in grooming entrepreneurs will further boost the varsity’s attempt to promote start-up and entrepreneurship.
The move has invited mixed reactions…
E Saibaba Reddy, vice-chancellor of VSSUT, the idea as such is good; however, its success will depend on the modalities and implementation.
“The universities are facing a crunch of faculty to manage routine teaching duty. It will be difficult to spare them for grooming entrepreneurs. It may, however, work on a small-scale in institutions offering technical and professional courses,” says another VC requesting anonymity.
Courtesy: The Times of India