World’s first Digital Student Incubator now has gone online as with Chief Minister Pinarayi Vijayan unveiled the portal , the digital initiative of Startup Village, is designed to help college-goers take their first step in entrepreneurship.
What is Startup Village
This is the first of its kind of incubation platform which will bring fresh talent of the country out to create a startups. Earlier we have seen various incubation programs like RiiDL, DaiTY also there are some of the incubation program by private organisations like Nasscom , Google and Apple. Recently India also has got its first CoE for IoT
SV.CO is trying to build an online University for student founders. With this initiative the students get an opportunity to build great startups, that too right in school and college.
But this is a first of its kind concept and there are various allocation for startups by Indian government.
“The government’s allocation for startups at Rs 300 crore is the highest to date in Kerala and higher than that of the Centre’s Department of Science and Technology,” said Vijayan at a function here on Wednesday.
Below video can show you how it is different from the mainstream education
Digital Incubator for Students: The Framework
Students can apply individually or they can form a team and then pitch their product or idea to the mentors. After creation of the idea student can fill Application Form. After approval of the application students would be guided and mentored to help create a prototype within 6 months
Application would be approved based on several pointers, but the major factors would always remain as market feasibility and innovation about solving a problem. With the guidance from the mentors, these students can gradually climb up the ladder, and get access to incubators, accelerators, and even raise angel funding. Besides,. The teams can be hired collectively by large firms, and they can be even sponsored for higher studies.
“The state will fund 1,000 startups every year with Rs 2 lakh for converting ideas to prototypes. The best prototypes will be given Rs 1 crore interest free loan to convert the prototype into a successful startup,” he said.
Startups are New way to Create Jobs
Existing jobs are getting fulfilled but the talent is not fully occupied, thus the startups are the
In the first phase 20 teams have successfully completed incubation in the beta phase of sv.co, and saw huge success in getting admitted to Zone Accelerator in Mumbai, getting acqui-hired by Tally or landing handsome jobs in leading startups like Ola and FreeCharge.
In this initiative which is world’s first digital business incubation platform that constitutes the second phase of Startup Village, is India’s first PPP model technology incubator which was set up in Kochi in 2012. After setting up it supported more than 500 startups and helped to create more than 3000 jobs.