The NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC) is being promoted in educational institutions to develop institutional mechanism to create entrepreneurial culture in S&T academic institutions and to foster techno-entrepreneurship for generation of wealth and employment by S&T persons. The NewGen IEDCs are established in academic institutions (science colleges, engineering colleges, universities, management institutes) having requisite expertise and infrastructure.
NewGen IEDC seeks - "To promote knowledge based and technology-driven start-ups by harnessing young minds and their innovation potential in an academic environment".
Objectives of the NewGen IEDCs:
- To channelize the knowledge and the energy of youth towards becoming active partners in the economic development process.
- To catalyze and promote development of knowledge-based and innovation-driven enterprises and promote employment opportunities amongst youth specially students.
- To inculcate a culture of innovation driven entrepreneurship.
- To act as an institutional mechanism for providing various services including information on all aspects of enterprise building to budding S&T entrepreneurs.