ENTREPRENEUR DEVELOPMENT CENTRE Rajiv Gandhi Chandigarh Technology Park

ENTREPRENEUR DEVELOPMENT CENTRE  Rajiv Gandhi Chandigarh Technology Park IT Park
– A Concept Note
VISION
In today’s competitive economy it is the need of the hour to promote the youth to
build their own enterprises. Presently, our system is providing excellent educational
facilities but due to lack of support systems for the start up of small and medium
businesses, it is difficult for any aspiring individual to dream big. To nurture this mind
set, there is an imperative need to build an eco system which provides a full range of
support services in one convenient location to help them succeed in today’s
competitive economy, which helps builds and supports an ecosystem. The services
include:
• FINANCING PROGRAMMES: Micro loans, conventional financing, commercial
financing and venture capital
• TECHNICAL ASSISTANCE in the form of expert counseling for start-up
entrepreneurs, targeted consulting for established small to medium-sized
businesses
• TRAINING in all aspects of small and medium business management
• INCUBATION SPACE for start ups- both shell space and ready to use space with
plug n play facilities
• TECHNOLOGY- development of Internet and technology skills and ease of use of
them.
Keeping in view the above Vision, the Chandigarh Administration has conceived the
plan to establish an Entrepreneurs Development Centre (EDC) at Rajiv Gandhi
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Chandigarh Technology Park (RGCTP) as an incubation centre for the IT Companies
with the following OBJECTIVES:
• To establish an eco system which builds and sustains the programme for
promotion of entrepreneurship in the Region.
• To educate, train, nurture the young professionals in setting up their
entrepreneurship by providing shell space or space with plug n play facilities in
a state of the art environment friendly and an intelligent building.
• To help the match making among various stakeholders.
• To facilitate the interaction amongst the stakeholders at various levels through
seminars, informal discussions, Business Plan competitions etc
• To establish a Resource Centre within the EDC which would be a comprehensive
information centre for SME’s and aspiring entrepreneurs.
• To provide a transit point for IT companies that are willing to come to RGCTP
but as yet do not have any fully developed building of its own.
• To promote Research & Development in the field of Software technology, apart
from providing other high value added services to IT companies in RGCTP.
STAKEHOLDERS
• Administration- for building and creating an eco system to nurture
entrepreneurs.
• Students who are the next generation entrepreneurs
• Existing Small Entrepreneurs who are looking for an opportunity to scale
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• Angel Investors/ Venture Capitalists/Financial Institutions who are interested in
financing start ups.
• Academic Institutions for providing course ware, teaching faculty etc.
• Professional Service Providers- Chartered Accountants, Lawyers specializing
Intellectual Property Rights etc who will provide the requisite professional
assistance.
• IT Industry for providing the mentorship programme, coordination, scaling up of
existing businesses
• Media- for highlighting the success stories
DELIVERABLES
BOARD OF MENTORS
To give a broader perspective for achieving the objectives of the EDC, it would be
desirable to set up a Board of Mentors under the chairmanship of Secretary, IT which
could meet twice an year and have the following as members/representatives from
the organizations:
• TiE (The IndUS Entrepreneurs)
• CII (Confederation of Indian Industry)
• PHDCI(Punjab Haryana Delhi Chamber for Industry)
• Indian Angel Network (new name of Band of Angels)
• One reputed Chartered Accountant
• One reputed lawyer dealing in IPR issues
• 2/3 Successful Entrepreneurs of the Region including a Woman
Entrepreneur
The Board of Mentors would provide the requisite direction to the EDC in achieving its
objectives. SPIC should be made in charge of running the EDC and the same would be
done by the Executive Committee of SPIC. In addition to the existing members of
Executive Committee 2 members can be co-opted from the Board of Mentors for
running the EDC and this small body can be named as EDC Coordination Council
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EDC Coordination Council
The following are the members of the Executive Committee of SPIC, who will also be
the members of EDC Coordination Council.
(a) Secretary, IT- President
(b) Director, IT cum CEO-SPIC – Member Secretary
(c) Addl Director, STPI Mohali- Member
(d) Two or three members from Board of Mentors
This Council will be the main body, which will be the implementing agency for
achieving the objectives and would be responsible to run the day-to-day affairs
through the Director IT cum CEO, SPIC. This will include selection of entrepreneurs
for the incubation space, operations and maintenance of the EDC, management of the
Resource Centre, Capacity Building programme etc.
INCUBATION SPACE
The EDC has been designed as a state of the art environment friendly building which
will provide shell space to the young IT Companies. Similarly, young IT professionals
who donot have any resources of their own but have bright ideas will be provided the
mentorship by selected professionals in this field apart from providing them with
incubation space with plug n play facilities. The rent of the space would be nominal.
However, to have a perpetual flow of funds for the EDC, some percentage of equity
would be provided by the entrepreneur to the EDC with an exit route, so that as and
when the entrepreneur grows and wants to scale into an independent building, he will
have the option to buy back the equity at the Net Asset Value as on the date of his
exit from the EDC. The mode of exit could be postponed to a future date also and till
then the equity would vest in the name of EDC/SPIC.
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CAPACITY BUILDING
(a) To nurture and facilitate the creation of Entrepreneurship as a viable
career option amongst students
• Permanent Student Entrepreneur Development Councils in Academic
Institutions would be set up under the aegis of SPIC. These bodies will
have the Engineering students as their members and would promote the
concept of entrepreneurship amongst the students. The funding would
be from membership fees but since the students will not be able to pay
high membership fees, these Councils will have to be provided financial
support through Grant in Aid by the Department of Information
Technology. The day-to-day affairs of these Student Councils would be in
the hands of the students as one CEO and Addl CEO would be elected
amongst the members. These Councils can have oversight Committee
under Director IT so as to oversee that the Grant in Aid provided by the
Administration is properly spent by them. This Council would be
responsible for promoting the concept of entrepreneurship by having
seminars, interaction with TiE, NASSCOM, CII, etc which will be
facilitated by DIT.
• Course Curriculum should also be modified by the Academic Institutions
for which the necessary inputs will be provided by the EDC to the
academic institutions both at the College level and University level.
• SPIC would start short-term weekly courses on the topics which are
needed to be understood by the would be entrepreneurs and the same
would be designed as a finishing product (MBA in a box type courses).
Some of the suggested topics could be: