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Utsaha Incubation Centre at Rishihood University

Preamble

Utsaha the name for the incubation center is drawn from the Sanskrit word which means to be able, be adequate, have power; act with courage or energy (expressed by ‘can’); dare, and venture. It is meant to inspire budding entrepreneurs to venture out and give power to established entrepreneurs facing challenges of any sort related to running/scaling up business. The ‘venture’ part is about the business ventures that the learners will float at the incubation center.

Utsaha, the Rishihood Incubation Center, is an attempt to create a holistic approach to nurturing entrepreneurial interest and supporting startups with programs, events, resources, and infrastructure.

Vision

Mission

Objectives

Nurturing innovative businesses that create a social impact.

Fostering entrepreneurial ideas and scaling up ventures that guide social impact and vice versa.

1. Encourage entrepreneurship and entrepreneurs that establishe RU as a leader in guiding impact-oriented projects.
2. Help develop the professional entrepreneurial ability and mindset to start a venture.
3. Provide a platform to faculty and staff who are inclined towards innovation and entrepreneurship with a social impact orientation.
4. Serve as a nodal center for assisting in setting up and scaling up ventures.
5. Provide research assistance for guiding starting up and scaling up of business.
6. Creating and providing opportunities to meet successful entrepreneurs, venture capitalists, etc.
7. Ensure integrity and ethical practices in all activities.

3 - Fundamental Areas

Makers Spirit – Programs and workshops to spark entrepreneurial interest and support ventures.
Financial Resources – Seed funding and a Makers Fund to financially back startups.
Research-based Entrepreneurship – Incentivizing research and innovation for societal problem-solving.

Purpose

Empowerment

Designed to nurture entrepreneurial spirit in the Rishihood community.

Support

Provides a comprehensive framework for startups to thrive and scale.

Ethos

Emphasizes ethical business practices and social responsibility.

Explore the Incubation Centre at Rishihood University

The purpose is to serve as a platform for:

a) Industry and investor connect: Opportunities for networking and collaboration with industry professionals and investors.

b) Social impact-driven innovation: Encouraging startups that create a positive socialimpact and solve pressing societal issues.

c) Research-based innovation: Fostering entrepreneurship based on cutting-edge research and deep-tech innovations.

d) Support for faculty and student startups: Tailored policies and resources to support faculty and student-led startups, including course credits, grace marks, attendance waivers, and placement opportunities.

e) Strong alumni engagement: Leveraging the alumni network to promote innovation and entrepreneurship within the university ecosystem.

f) Established entrepreneur support system: It will also provide support to established/budding entrepreneurs
(stakeholders, who are not a part of RU) to help them run establish their business.

The policy also includes:

a) Governance framework: Utsaha Advisory Committee shall oversee the implementation at the centre.

b) Policy Framework: This has been provided for successful running of the centre.

c) Norms: For Faculty, Staff, Students, external entrepreneurs have been drawn.

d) Guidelines: For IP rights, conflict resolution, pedagogy and learning interventions and Tenure of incubation.