SRCC to set up a centre for promoting startups

NEW DELHI: Shri Ram College of Commerce will soon become the first undergraduate commerce college in India to set up a centre for startups. The operational cost of Centre for Innovation, Incubation and Entrepreneurship will be borne by Niti Aayog and other government agencies. Initial funding will come from the alumni network of the college. The centre will be opened on Friday at the campus in presence of global alumni and representatives of some successful startups.

Faculty adviser Abhay Kumar said, "There are many successful startups by current students and alumni of SRCC. The alumni network of SRCC is varied, rich in experience and globally well-placed. We thought, why not tap the potential of our students and alumni as well as explore government initiatives to foster the spirit of entrepreneurship as well as give the space to create new products."

"An incubator facility that provides its students with the required financial, technical and marketing resources will enable SRCC to cement its position as the first commerce and management college to install such machinery for students at the undergraduate level. This will also give a chance to the faculty to provide their invaluable insights towards ground-level implementation of commercial activities that stimulate growth in the country," Kumar said.

Four final year, seven second year and four first year students are currently involved in the setting up of the centre. The centre will initially fund 2-3 projects by current SRCC students. "We will ask for applications from the present crop of six startups by current students. Proposals will be scrutinized by an expert committee. Thereafter, we will look for investors," Manik Garg, a BCom final year student, said.