Ministry will set up an Incubation fund for 100 institution : DR. M. M. Pallam Raju
INVC, Delhi, HRD minister DR. M. M. Pallam Raju has announced key initiatives to promote industries- academia collaboration in the country Making announcement after two days of workshop all in industries- academia collaborations for greater national productivity in New Delhi today he said the ministry will set up an Incubation fund for 100 institution. The fund will provide seed money for incubating ideas of students and facility. The ministry to is lunching the National Employability Enhancement Mission (NEEM) through AICTE. The frame work will provide a vehicle for companies and entrepreneurs to provide employability skills and internship as value added proposition to student for all fields. The ministry will set up an Academia- Industry Interface Council with representatives of Industry and Academia. The council will promote collaboration between the two and create and innovating culture. MHRD will indentify ten institutes with potential to have Research Parks at tier 1,2 or 3 level depending on the optimum size industry presence and current level of academia- Industry engagement in the institute. As in the case of IIT Madras Research Park, while the initial funding would come from government, the research park would be expected to raise resources from the market and generate its own revenues later on. The Ministry will explore the possibility of funding for research on competitive basis for national priorities where Industries-Academia collaborates. It have begun documenting case studies as an MHRD –CII collaboration initiative. The ministry will recognize good works of collaboration between industry and academia through annual awards. In coordination with Industry, we will put in place a mechanism to invite applications for best outcomes of Industry- Academia partnerships. Earlier in the day Dr. Raju had called for closer partnership between and industry. He said that the gap between the two has to be bridge to enhance employability of our people. Stressing the need for more contribution from industry in research, the minister said that the most of the funding at present for Research and Development in the country is coming from the Government said. Calling for greater private sector involvement, the minister said the industry should engage itself more in terms of not only funding but also in skill development, innovation and entrepreneurship.