Ideation To Commercialization & Funding Opportunities
KIIT Society of Civil Engineers (KSCE) hosted the workshop on the topic ‘Ideation toCommercialization and Funding Opportunities’ on 26th August 2023, in association withICE and ASCE KIIT Student Chapters. The guest speakers were Mr. Ashutosh Nanda, LeadDST, KIIT-TEC, and Mr Malaya Mahapatra, Program Manager KIIT, TBI. The event was graced with the presence of Dr. Sanjib Moulick, Dean School of Civil Engineering, Dr. MadhuLisha Pattanaik, Faculty Advisor KSCE, Guest of Honour Mr. Susanta Kumar Sethy, Technology and Design Engineer, KIIT-TEC and benevolent faculties of the department. The session started by welcoming dignitaries and the scintillation of the lamp. The welcome address was given by Dr. Sanjib Moulick, Dean of the School of Civil Engineering.
The Guest Speak Mr. Ashutosh Nanda started the session by questioning the students’ the meaning of entrepreneurship, then proceeded to explain the need for innovation, and the factors on which the solution of an issue that requires innovation depends, i.e., impact factor, cost, and ease of replication. The invention’s commercial capability is crucial for innovations, while trade secrets, exemplified by Coca-Cola, also play a role. He cited the importance of IPR.
There are several forms of IPR – patent, design, trademark, and copyright—patents have social and commercial dimensions, with 80% of records globally being patented. Commercially, new inventions involve substantial investment, competition, and the need for secrecy, backed by the patent system. The benefits of patenting include a 20-year monopoly, economic advantages, and the ability to protect IP autonomously. Writing a proposal involves focusing on key points for successful execution. The first lecture concluded with Mr. Nanda taking questions from the students.
The next Guest speaker Mr Malaya Mahapatra was invited upon the dais to share an informative speech on the funding opportunities. He glossed over the journey of KIIT-TBI. Its impact extends across multiple sectors, offering support and resources to diverse ideas. KIIT-TBI facilitates funding opportunities at various stages of a startup’s growth. Through its stage-wise funding scheme, it offers a structured approach to financial support. Startups benefit from a monthly allowance, with eligibility based on specific criteria and merits.
Additionally, programs like DST NIDHI Entrepreneurship in Residence and MEITY TIDE 2.0 further enhance funding prospects. KIIT-TBI’s comprehensive approach also encompasses programs such as the Social Innovation Immersion Program, DST NIDHI Prayas, and the Biotechnology Ignition Grant. He mentioned the key points of writing a proposal and the availability of multiple facilities in Fab Lab. Mr. Mahapatra ended the lecture by sharing the various programs conducted by KIIT-TBI and how to avail the facilities of Fab Lab.
Overall, it was a very informative session. The speakers encouraged the students to come up with ideas and innovations. The audience was inclusive of students of the KIIT School of Civil Engineering, who were thoroughly invested and interactive during the entire proceeding of the Workshop. The anchors for the event were Abhisek Biswal, Coordinator, KSCE, andMishita Chowdhury. The vote of thanks was delivered by Dr Madhu Lisha Pattanaik, FacultyCoordinator, KSCE.