Dr Jere: Educational institutions should play key role for the growth of startups

Magic: ‘Startup Ecosystem Meet'

Chhatrapati Sambhajinagar: Dr Abhay Jere, vice president of All India Council for Technical Education (AICTE) and chief innovation officer, Ministry of Education, Government of India, expressed the opinion that educational institutions should play an important role for the growth of startups. He was speaking at the ‘Startup Ecosystem Meet’ organized by Magic Institute recently.

Dr Jere highlighted the important role of teachers in supporting startups and inculcating entrepreneurship in students in the educational setting itself. He said that faculty should take the initiative to undertake projects that can create products and services to launch potential startups. He also emphasized the need for educational institutions to focus on commercialization of patents to effectively implement the new education policy and promote the importance of intellectual property rights. The interaction session was attended by Magic directors Ashish Garde, Ritesh Mishra, Sunil Raithatta along with government officials, representatives of financial institutions, industry groups, principals, directors, and professors of various educational institutions in the areas of Jalgaon, Nanded, Ahmednagar, and Jalna.

Develop institute and inventor sharing model

Dr Jere emphasized the importance of innovation score, global innovation index ranking, encouraging young generation for idea generation, promoting projects to bring commercial value to students, zero effect zero defect in the industry, motivating new ideas among students, and developing a 20 percent institute and 80 percent revenue sharing model to the inventor team.