Iimv Startup Policy Offers Placement Holiday, Funding | Visakhapatnam News

Visakhapatnam: Perhaps for the first time for any educational institution in Andhra Pradesh, the Indian Institute of Management, Visakhapatnam, has designed the IIMV Supers (Smart Undeterred Passionate Entrepreneurs among Resident Students) program for students of its flagship residential PGP (MBA) program. .
The Supers program has been planned under the comprehensive ‘startup policy’ recently formulated by IIM-Visakhapatnam to promote and build a robust innovation and startup eco-system. This guiding framework has outlined the vision and objectives of the incubator of the institute. The policy has made several support provisions for the students and faculty at IIM-V to nurture and support their innovation and entrepreneurship-related activities. The policy also framed guidelines regarding the services, activities, funding and support programs that will be offered to external startup entrepreneurs and alumni.
As per the Policy, the PGP students can now opt for a break, to the maximum extent of one year, after completion of the first year of coursework requirements. This is to channelise their full-time efforts towards their respective ventures.
The student entrepreneurs may be given a placement holiday up to two years from the year of passing. The students, who have opted for deferred placements, can rejoin the campus placements if their entrepreneurial efforts run into rough weather.
Speaking to TOI, director, IIM-Visakhapatnam, Prof M Chandrasekhar, said that ‘entrepreneurship development’ has now been made a core course for the PGP students, which was earlier an elective course. “This is to inculcate entrepreneurial spirit among the students. Secondly, students now have the option of devoting their full efforts on startups by taking a break in the second year as per the institute’s startup policy. The students can also pursue exploratory subjects related to entrepreneurship as part of their ‘course of independent study’. The student startups will also be provided financial support in the form of seed funding, prototype grant, etc., ”said Prof Chandrasekhar.
Chief operating officer, IIMV-FIELD, Dr Md. Shameem Jawed said that the overall objective of the program is to encourage a higher number of students towards entrepreneurship. “As the startup policy contains several provisions for students such as placement holiday, break and financial support, the Supers program is expected to bring in a shift towards entrepreneurial culture and make IIM-Vizag a fertile ground for innovative startup ideas,” said Prof Jawed. .
IIM-Vizag has floated a Section 8 Company, namely IIMV Foundation for Incubation, Entrepreneurial Learning and Development (IIMV-FIELD) to translate the innovative ideas into viable business proposals. The startup policy of IIM-V will be implemented through this Section 8 Company. As per the new startup policy, 1% of the IIM-V’s annual expenditure budget will be allocated to IIMV-FIELD for the entrepreneurial activities.


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