The Indian School of Business (ISB)’s Wadhwani Centre for Entrepreneurship Development (WCED) is planning to start a ‘Research to Marketplace’ initiative to bring scientists, researchers and entrepreneurs under one platform and provide support in bringing their research-based products to the marketplace.
Presently, a lot of innovations are happening in the science research labs around the country, which are not being converted into marketable products. So, the idea behind the initiative is to convert the research and innovation into commercially marketable products, said, Krishna Tanuku, executive director, WCED.
The programme was successfully pilot-launched recently, and the full-fledged programme is expected to be launched by the end of the year, he added.
At present, WCED is in discussion with three-four scientific research organisations and science labs for the programme. The framework will help in fostering the research, making a connection between entrepreneurs and scientists, he told Business Standard.
ISB is becoming a hub for start-ups and first-generation entrepreneurs. Over the last three years, 20 ventures were incubated at the school and over 200 alumni had set up their own ventures. The school sees an increase in students for the entrepreneurship programme every year.
Students, both from family-run businesses and first-generation entrepreneurs, are participating in these programmes. ISB has two entrepreneurship programmes - WCED’s Entrepreneurship Development Initiative (EDI) and Planning an Entrepreneurial Venture (PaEV),
In the last one year, around 100 working professionals (between the ages of 20 years and 40 years) participated in the EDI for starting their ventures. This number was 30-35 a year ago, he added.
“Entrepreneurship ecosystem is now booming in the country with the support from the industry. And, ISB is building an ecosystem through research and mentoring programmes, and by providing the tools to get connected with the stakeholders,” he said.
For the academic year 2012-13, ISB enrolled 63 students for the entrepreneurship development programme for both its campuses at Hyderabad and Mohali.