Gyan Circle Ventures | UPSC
HEADLINES:
Union Education Minister virtually inaugurates Gyan Circle Ventures, a MeitY–funded Technology Business Incubator at IIIT Sri City
WHY IN NEWS:
Gyan Circle Ventures supported by MeitY will provide support for innovators and startups, in various phases via investments, infrastructure and support.
SYLLABUS COVERED: GS 3 : Startups : Education : Infrastrucure
LEARNING:
For PRELIMS go through aim , significance and the funding pattern.
For MAINS what are the hurdles in bridging the gap between education and start ups ? Let us dive in !
CONTEXT:
GYAN CIRCLE VENTURES
- Gyan Circle Ventures (Centre for Innovation and Entrepreneurship Development at IIITS (CIEDI), a Section 8 Company) is the Technology Business Incubator of IIIT Sri City.
- The primary purpose of the incubator is to encourage building the institutions’ entrepreneurial spirit via utilizing its intellectual capital.
AIM
- This is to promote deep-tech entrepreneurship through financial and technical support to incubators engaged in using emerging technologies such as IoT, AI, Block-chain, Robotics etc.
- Broad areas include – manufacturing, education, Smart Cities, etc.
FUNDING
FEATURES
- Gyan Circle Ventures located in IIIT Sri City provides valuable facilities to incubatees and startups.
The incubatees of GCV gets access to:
OTHER RESOURCES
- The incubatees can leverage the expertise of Mentors from both academia and the industry.
- Being an incubatee in a TBI which is a part of an esteemed high quality technical institution has additional perks.
- The incubator will serve as a catalyst for the advancement of society-conscious entrepreneurship and fuel job creation.
E-CELL
- IIIT Sri City has been part of Ministry of Education’s Innovation Cell and established Institute Innovation Council.
- E-cell trains students on how to be successful entrepreneurs with social responsibility.
ORGANIZERS
- Indian Institute of Information Technology Sri City (IIITS), is an institute of national importance established in 2013 by MHRD Government of India.
- The institution is in partnership with Government of Andhra Pradesh and Sri City Pvt Ltd.
- The Institute encourages undergraduate students to actively take part in research through a merit-based BTech Honours program.
- Students who participate in the program work on a particular area under a faculty or group of faculties for a period of 2 years.
- They earn the Honours degree by producing research publications or Intellectual property or a software/hardware product.
- IIIT Sri City promotes a culture of innovation and entrepreneurship to help faculty and students to fulfil their potential .
SIGNIFICANCE
- This leads to development of new technologies and business opportunities as well as enable economic and social development in the region.
- Gyan Circle Ventures invites potential entrepreneurs and startups that are building cutting edge technology solutions to real world problems.
- TIDE 2.0 by MeiTy was initiated to promote tech entrepreneurship through financial and technical support to incubators.
- Gyan Circle Ventures will serve as a hub for innovation and startups by providing support, in various phases, via investments, infrastructure and mentoring.
- It would enable incubatees to leverage these expert mentors and networks from both academia and the industry.
IASbhai WINDUP:
- Innovation is the engine that powers this progress of the nation.
- ‘Gyan Circle ventures’ which have the potential to instill entrepreneurship in young minds and steward them to become successful innovators.
SOURCES: PIB | Gyan Circle Ventures | UPSC
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