Vertical 3: Business Incubation And Innovation

Business Incubation And Innovation earlier known as UNIVERSITY BUSINESS INCUBATION AND INNOVATION CENTRE (UBIIC)

INTRODUCTION:

The University Business Incubation and Innovation Centre (UBIIC) was established in July, 2019 with an aim to spark the innovation and entrepreneurial potential of the region to bring about out of the box thinking. UBIIC aims to cater to the underservedas well as unserved regions of the UT wherein a need of the awareness and creation of an innovation ecosystem requires attention.

Through UBIIC, the University endeavours to achieve the broader objectives of encouraging and inspiring students, researchers as well as the community to think and ideate and come out with innovative solutions to solve the issues and problems. UBIIC shall act as a facilitator for the establishment and nurturing of the Start-up ecosystem by providing the adequate infrastructural support, training and development, mentorship, networking, access to market support and compliance support, access to early stage investments, etc. Jammu and Kashmir offers a wide scope for creating a Start-up ecosystem. There exists a great scope for establishment in the region to better serve the needs of community.

OBJECTIVES:

To create awareness among the students and graduates regarding the importance of micro, small and medium business enterprises towards economic and community development.
To create physical infrastructure and support systems necessary for business incubation activities.
To facilitate networking with professional resources including mentors, experts, investors, industry professionals, consultants and advisors for the incubate companies.
To identify potential Entrepreneurs and nurture and support them to develop independent self-sustaining business/
To pre-incubate and incubate early stage entrepreneurial technology based ventures or any other business idea having potential to be suitably commercialized.
To develop linkages among the parent institution, industries and R&D institutions in the region and other related organizations engaged in promoting micro, small and medium enterprises (SMEs) including NGOs & other voluntary organizations.
To catalyse and promote development of S&T based enterprises and promote employment opportunities
To provide a platform for speedy commercialization of the research and technologies developed in the institutes.
To develop a bridge between academicians, entrepreneur and civil society especially with the affiliated colleges of the University.