Every college in Delhi University will now have businees incubation centres which will grant Rs.12 lakh each to students with innovative business ideas, the varsity vice chancellor said Friday.
The step follows a memorandum of understanding the varsity signed with the central micro, small and medium enterprises (MSME) ministry.
"Every college will now have a business incubation centre. Every student who comes up with a good innovative story idea will then be given Rs.12 lakh by MSME to further develop and put the idea into process of manufacturing," DU Vice Chancellor Dinesh Singh said.
Such incubation centres were only there in Acharya Narendra Dev College and Atma Ram Sanatan Dharma (ARSD) College so far.
The vice chancellor said that the motive behind doing this is to create "entrepreneurs" and "job creators".
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