An Institution's Innovation Council (IIC) is a strategic initiative established within educational institutions to promote a culture of innovation and entrepreneurship. The IIC aims to systematically foster the innovation ecosystem through various programs, activities, and initiatives.
Functions and Responsibilities
● Encouraging students and faculty to engage in innovative projects and research.
● Organizing ideation sessions, hackathons, and innovation contests to inspire creative solutions to real-world problems.
● Providing infrastructure, resources, and mentorship to help transform innovative ideas into viable businesses.
● Offering incubation support, including office space, internet access, and administrative assistance for startups.
● Conducting workshops, training programs, and seminars on innovation, entrepreneurship, and related skills.
● Partnering with industry experts to provide insights and guidance on various aspects of innovation and entrepreneurship.
● Assisting startups and innovative projects in securing funding from government grants, venture capitalists, angel investors, and other sources.
● Organizing pitch events and investor meets to connect innovators with potential funders.
● Connecting students and faculty with experienced mentors who can provide guidance on technical, business, and market-related challenges.
● Facilitating networking opportunities with industry professionals, investors, and other entrepreneurs.
● Identifying and supporting projects with high potential for innovation and societal impact.
● Monitoring the progress of these projects and providing necessary resources and support.
● Promoting innovation and entrepreneurship through campaigns, events, and social media.