IIIT-Allahabad may set up incubation centre for development of SME

By Team YS|12th Nov 2009
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Uttar Pradesh government has selected the Indian Institute of Information Technology, Allahabad (IIIT) for a Government of India scheme -- Support of entrepreneurial and managerial development of small medium enterprises (SME) through incubators.


Accroding to IIIT, Allahabad director Dr. M.D Tiwari, the institute has been invited by the state government to participate in a scheme seeking proposal for setting-up of `Incubation Centres' for development of new products by students in supervision of their faculty under Union ministry of small And medium enterprises. This Scheme -- support for entrepreneurial and managerial development of SMEs through incubators -- targets to support a total of ten incubation ideas from IIIT-A from fifth and seventh semesters students of BTech IT & ECE and all the students of MTech-IT, MBA and MSCLIS The students have been asked to avail the opportunity to emerge as future entrepreneurs, he added.

Tiwari said the scheme seeks the nurturing of ideas from professionals beyond the traditional activities of Micro Small and Medium Enterprises (MSMEs) and such entrepreneurial ideas have to be fostered and developed in a supportive environment before they become attractive for venture capital. This initiative is now being taken up by the ministry of MSME the nodal ministry for the development of entrepreneurship and creation of self-employment and more employment and more employment avenues.Director, industries, Mohd Iftakharuddin in a letter addressed to Tiwari informed that a study group was constituted by the Planning Commission for preparing a road map for rapid economic, development of UP.

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