NewGen IEDC: The New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC) was a program launched to nurture entrepreneurship and innovation among students in academic institutions across India. It was initiated by the National Science and Technology Entrepreneurship Development Board (NSTEDB) under the Department of Science and Technology (DST). The goal was to help students turn their innovative ideas into successful businesses by offering mentorship, funding, and resources.
Though the program has concluded, its impact is still evident through the many startups and innovations it supported. This article explores the program’s features, benefits, application process, success stories, challenges, and future prospects.
Overview Table
| Key Information | Details |
| Program Name | New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC) |
| Launched By | National Science and Technology Entrepreneurship Development Board (NSTEDB), DST |
| Program Duration | Five years |
| Objective | Promote technology-driven startups and foster entrepreneurship |
| Target Audience | Students in science, technology, and management fields |
| Support Provided | Mentorship, financial aid, infrastructure, and industry partnerships |
| Total Student Projects Supported | 1571 |
| Patents Filed | 471 |
| Patents Granted | 40 |
| Startups Established | 138 |
| Businesses Commercialized | 67 |
| Geographical Reach | 26 institutions across 13 states in India |
NewGen IEDC
NewGen IEDC was established to create an environment where students could explore entrepreneurship and develop innovative products with commercial potential. Collaborating with universities, engineering colleges, and management institutes, the program provided young innovators with resources and guidance to transform their ideas into successful businesses.
The initiative encouraged students to think beyond traditional career paths and become job creators. With mentorship from industry experts and access to advanced infrastructure, participants gained practical experience, helping them bring their projects from concept to commercialization.
Key Features of NewGen IEDC
NewGen IEDC emphasized practical learning and real-world applications. It provided financial support for student-led projects, covering the costs of prototype development, raw materials, and consultancy services. Mentors offered guidance on business planning, market research, and securing funding.
Workshops, hackathons, and business plan competitions helped students develop essential entrepreneurial skills. These events allowed participants to showcase their innovations, receive feedback from industry professionals, and build valuable networks.
The program also promoted collaboration by encouraging students from different academic disciplines to work together. This multidisciplinary approach helped participants develop innovative solutions to complex problems, gaining skills needed to succeed in today’s competitive business environment.
How NewGen IEDC Supported Entrepreneurs
NewGen IEDC offered comprehensive support to entrepreneurs at every stage of their journey, including:
- Idea Development: Students were encouraged to identify real-world problems and develop business concepts with commercial potential.
- Prototype Development: Financial aid helped students create working prototypes of their products.
- Business Planning: Mentors guided students in preparing business plans, conducting market research, and defining their value propositions.
- Industry Collaboration: Partnerships with industry professionals, bankers, and customers provided practical insights and market validation.
- Funding and Commercialization: The program helped students secure funding, launch their startups, and scale their businesses.
Eligibility Criteria for NewGen IEDC Programs
The eligibility criteria varied for students and institutions:
- For Students:
- Must be enrolled in a science, technology, or management program at a participating institution.
- Must have an innovative idea with commercial potential.
- Must be committed to developing their project into a viable business.
- For Institutions:
- Must be a recognized university, engineering college, science college, or management institute with the necessary infrastructure and expertise.
- Must have faculty members trained in entrepreneurship development.
- Must provide dedicated space and resources to support student projects.
Application Process to Join NewGen IEDC
Students and institutions followed a structured application process to join NewGen IEDC:
- Proposal Submission: Students submitted detailed proposals outlining their innovative ideas, technical feasibility, and commercial potential.
- Review and Selection: A panel of experts reviewed the proposals, selecting projects with the highest potential.
- Funding Allocation: Selected projects received financial assistance to cover prototype development, raw materials, and mentorship fees.
- Project Execution: Students developed their prototypes under the guidance of mentors and industry professionals.
- Commercialization and Scaling: Successful projects received support to launch their products, secure additional funding, and scale their businesses.
Success Stories from NewGen IEDC
Several student-led startups supported by NewGen IEDC achieved notable success, demonstrating the program’s impact on promoting innovation and entrepreneurship.
One example is the BARCO – HYACINTH Collector, developed by a team from Dr. M. G. R. Educational & Research Institute in Chennai. This innovative solution for collecting water hyacinth, a common aquatic weed, was recognized as the best innovation in the IIT PALS InnoWah Competition and received a €1000 seed fund from the Next Generation Water Challenge competition.
Another success story is ABYOM Rocket TDM, a space technology startup founded by a team from the Indian Institute of Information Technology in Allahabad. As Uttar Pradesh’s first officially recognized space tech startup, its founder was invited by ISRO to pursue the venture. The team developed rocket prototypes, conducted solid motor tests, and participated in international competitions like the Spaceport America Cup.
List of Institutions with NewGen IEDC
NewGen IEDC operated in 26 academic institutions across 13 states in India. Notable institutions included:
- University of Kashmir, Srinagar
- Indian Institute of Technology (IIT), Guwahati
- Indian Institute of Information Technology, Allahabad
- Jawaharlal Nehru National College of Engineering, Shimoga
- Datta Meghe Institute of Medical Sciences, Wardha
- Sumathi Reddy Institute of Technology for Women, Warangal
- College of Technology and Engineering, Udaipur
- Dr. MGR Educational and Research Institute, Chennai
FAQs about NewGen IEDC
What was the main goal of NewGen IEDC?
The primary goal was to promote technology-driven startups and foster an entrepreneurial culture within academic institutions.
How many student projects did NewGen IEDC support?
The program supported 1571 student projects across 26 institutions in 13 states.
What types of support did NewGen IEDC provide?
Students received financial aid for prototype development, mentorship from industry experts, and opportunities to collaborate with professionals and customers.
Which industries did NewGen IEDC startups focus on?
Startups covered various industries, including space technology, environmental solutions, healthcare, and advanced manufacturing.
Is NewGen IEDC still operational?
No, the program has concluded, but its impact continues to inspire entrepreneurship in academic institutions across India.
Final Thoughts
The New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC) played a key role in promoting innovation and entrepreneurship among students in India. By providing mentorship, financial aid, and industry exposure, the program helped young innovators turn their ideas into successful businesses.
Although the program has ended, its success stories and lasting impact continue to inspire future entrepreneurs, ensuring that innovation and entrepreneurship thrive in academic institutions across the country.
