RCOEM Institute Innovation Council

(Ministry of Education Initiative)
Objectives:

• Setting direction for the Institute towards streamlining and establishing a strong startup ecosystem in the campus and region
• Measuring Innovation & Startup ecosystem based on Input, Process, Output, and Outcome-based parameters
• Focusing on both quantity and more on quality aspects of the Startup Eco-System available at the Institute
• Also, to measure the impact created by these innovations and Startups in society and the market

Key Result Areas (KRA):

The following KRAs are identified for achieving our objectives:

• Programs and Activities on IPR, Innovation, Start-up Organized & Participated
• Annual Budget Spent on Innovation & Start-up funding, income, and Expenditure
• Innovation, Pre-Incubation & Incubation & Infrastructure Facilities Established
• Awards & Recognition of Students and Faculty Innovations/Start-ups in Various Contests/Events
• Courses on IPR, Innovation & Start-up Offered by Institute
• IP Granted and Published
• Successful Innovations Supported, Produced & Startups Established
• Seed Fund, Angel & Venture Fund Support Raised by Above Start-ups and Innovations
• Tech Transferred & Commercialized

Key Performance Indicators (KPIs):

The following KPIs are identified for achieving our objectives:

I&E Awareness Among Students & Faculties

• Programs conducted, Attended, Awards received

I&E Infrastructures & Facilities Innovations Supported by HEI

• Technology Readiness Level 4 and above

Start-ups Supported by HEI

• No. of Startups with CIN (10)
• No. of Faculty as Founder & Co-Founder with DIN (5)
• No. of Startups with an Annual Turnover of Rs 50 Lakhs or 10 employees

Co-Incubation and Partnership Giving Incubation

• Receiving Incubation, Giving Incubation

Angel and Venture Capital Funding/ Investor Linkage Facilitated by HEI/Incubator

• Total Angel/VC Fund Amount raised by Innovations
• Total Angel/VC Fund Amount raised by Startups

Teaching and Learning on Innovation/IPR/Entrepreneurship

• No. of Full-time Programs
• No. of Short time & Elective / Core Credit
• No. of MDP, EDP, FDP Programs

IP & Technology Commercialization

• Patent Granted
• Patent Published
• Incubated Start-up holds Patents
• No of IP Commercialized/Technology Transferred

Budget (Expense and Revenue) on Innovation/IPR/Entrepreneurship

• Total Expense on Program Conducted and participated
• Incubation Infra. (Capital Expenditure + Operational Expenditure)
• Total Seed Fund/Grant Disbursed to Innovations
• Total Seed Fund/Grant Disbursed to Start-ups