Union Edn minister launches MoE - AICTE Investor Network

Prameyanews English

Published By : Prameya News Bureau | February 01, 2024 IST

Dharmendra Pradhan launches MoE - AICTE Investor Network

New Delhi, Feb 1: Union Minister for Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan launched ‘Ministry of Education - AICTE Investor Network’ in New Delhi today. 

Secretary, Higher Education, Ministry of Education,  K. Sanjay Murthy; Chairman, AICTE, Prof. T.G. Sitharam; Vice Chairman, AICTE, Dr. Abhay Jere; Chairman, National Educational Technology Forum NBA NAAC, Prof. Anil Sahasrabudhe and other dignitaries were also present at the event.

Speaking at the launch,  Pradhan termed this initiative to be a ground-breaking beginning that will bring students, faculty, investors and the market on one platform to strengthen the culture of innovation and address the issue of start-up funding. In line with the vision of NEP 2020, this is another concrete initiative towards further catalysing the start-up landscape and fulfilling Prime Minister Narendra Modi’s vision of making India ‘numero uno’ in start-up and innovation, he added.

Pradhan also said that the MoE-AICTE Investor Network will strengthen the all-round support ecosystem to dynamic innovators—right from idea generation to successful graduation as a commercially viable start-up. He said that going beyond the role of just investors, Venture capitalists are working as also mentors and partners. He encouraged all partners and mentors to invest in budding ideas coming out of the classrooms of the schools and HEIs. It is important to invest not only in ideas and businesses but, also in the dreams of the nation to realize the goal of Viksit Bharat 2047, Pradhan highlighted.

While delivering the welcoming address, AICTE Chairman Prof. T.G. Sitharam said that the collaboration between innovators and investors is a crucial aspect of driving innovation, fostering entrepreneurship, and bringing new ideas to fruition. The strategic partnership through the Investor Network will lead to the generation of new ideas, inventions, or solutions to existing problems, he added. Prof. Sitharam also mentioned that the successful collaborations between innovators and investors result in the creation of sustainable businesses that deliver value to customers, generate returns for investors, and contribute to economic growth and innovation ecosystems.

Over 50 Investors and Industry leaders from diverse sectors attended the launch to further establish networking opportunities and catalyse partnerships that drive innovation and growth foster meaningful connections and advance initiatives that benefit both investors and innovators. The investors held an interactive session with Shri Pradhan and exchanged visionary ideas and gained valuable insights into the future of education, technology, and innovation.

For the effective onboarding of investors, framing the policy and developing a strategic flow of the ‘MoE-AICTE Investor Network’, a 10-member steering committee has also been established under the chairmanship of Dr. Abhay Jere. The committee is formed to facilitate the onboarding of 100 investors with diverse profiles, draft and develop policy documents and working guidelines, create funding guidelines and parameters for the investors, prepare the eligibility criteria for startups and innovators seeking funding, monitor and track the progress of funded projects etc. 

Dr. Abhay Jere briefed about the programme and informed how the ‘MoE - AICTE Investor Network’ will facilitate opportunities for investors to support innovative ideas within Higher Education institutions. The collaboration of Investors with Innovators has the potential to bridge the gap between investors seeking meaningful investment opportunities and budding student and faculty startups striving to enhance their growth in innovation, paving the way to contribute to the overall development of the education sector in India, he added.

The MoE - AICTE Investor Network is a ground-breaking initiative jointly established by AICTE and the Ministry of Education’s Innovation Cell (MIC) with a vision to foster innovation and entrepreneurship in the education sector. The network aims to provide crucial financial support, mentoring, and strategic guidance to early-stage student or faculty-led startups. Through this unique network, the Ministry of Education seeks to encourage private investment in student- and faculty-led startups. The platform aligns with the vision of Prime Minister Shri Narendra Modi to create a vibrant ecosystem for innovation and entrepreneurship.

The MoE-AICTE Investor Network is launched with the objective of empowering educational institutions to become innovation hubs, fostering a conducive environment for start-up development, facilitating entrepreneurship by transforming innovative ideas into scalable and sustainable businesses and providing startups with essential resources, mentorship, seed capital, and potential investors.

This Investor Network further aims to bridge the gap between investors and transformative educational initiatives, fostering collaboration for the advancement of education and technology.

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