24 Feb 2020 18:42 IST

Top IIMs join hands with IITs to promote entrepreneurship

Institutes to set up ‘iVEIN’ to boost research and collaboration around innovation and entrepreneurship

Premier technical and management institutions in the country have joined hands to launch a consortium to boost Indian entrepreneurship ecosystem through quality research in innovation, venturing and entrepreneurship.

Called ‘Innovation-Venturing and Entrepreneurship in India Network (iVEIN),’ its founding members are faculty at IIT Madras, IIT Bombay, IIM Bangalore, IIM Calcutta and IIM Kozhikode. This network of institutions will leverage strengths of the partners and would work with other stakeholders such as incubators, government and investors to generate and disseminate knowledge.

iVEIN was launched on February 15, 2020, along the side-lines of ‘Dialogue with Stakeholders’, event held by SINE (Society for Innovation and Entrepreneurship) at IIT Bombay.

Quality research

Prof Debashis Chatterjee, Director, IIM Kozhikode, said: “This initiative of launching a consortium is a pioneering concept being offered by world class Indian institutions possessing the richest legacy in the field of technology and management. Forging a close linkage between academic and R&D institutions on one hand, and industry on the other hand will not only enable and empower the future entrepreneurs but also open up previously un-explored avenues for resource sharing.”

Highlighting the features of this initiative, Prof A Thillai Rajan, Department of Management Studies, IIT Madras, who is coordinating the initiative, said: “Innovation, venturing and entrepreneurship are getting increasing attention from policy-makers. These three areas are expected to play a key role in the economic growth of the country in addition to strengthening India’s position as an innovation country. The iVEIN network will facilitate high-quality research in this field among the academic fraternity in India and create avenues for dissemination of the relevant knowledge through conferences and journal publications.

A stronger platform

Prof Venkatesh Panchapagesan, Chair, NSRCEL, the innovation and entrepreneurship cell of IIM Bangalore, said: “Academic incubators play a critical role and that iVEIN will help create a stronger platform for them to share best practices and take lead in promoting activities like research that are often neglected by the private ecosystem.”

Vidyanand Jha, professor of organisational behaviour at IIM Calcutta said, “The network would catalyse the much-needed work to document Indian experiences in areas of entrepreneurship and innovation. It would also aid in creation of data-based knowledge and dissemination of such knowledge. This would give a fillip to entrepreneurship in the country by aiding both policy formulation and implementation regarding innovation as well as by helping managerial practice.”

Objectives of iVEIN network:

    1. Create an interdisciplinary body of knowledge synthesising multiple perspectives, which would meet the requirements of policy makers, academic researchers, students, innovators, entrepreneurs, investors and all those interested in innovation and ventures

    2. Track the contours of the vibrant innovation, venturing and entrepreneurship segment in the country and develop a holistic and analytical narrative on the dynamics that drive the development in these areas

    3. Help in effective policy formulation at multiple levels; develop thought leadership

    4. Seed the creation of a society that will organise annual conferences, publish a journal, and architect a data repository in the areas of innovation and entrepreneurship