IIM Calcutta sets up Innovation Park - Primary focus on healthcare, education, clean technology, lifestyle & analytics

The Indian Institute of Management (IIM) Calcutta innovation park is in limelight after the institute announced its plan to launch it to incubate and accelerate the growth of startups in India. The innovation park, which has been registered as a Section 8 company under the new Companies Act, would put its basic focus on healthcare, education, clean technology, lifestyle and analytics.

Saibal Chattopadhyay, Director-IIM Calcutta, Ashok Banerjee, Dean (New Initiatives and External Relations), and Anindya Sen, Dean (Academic), would be heading the first director posts of the park. According to a newspaper source, the company has signed on three startups at the moment namely - ONergy, Doctors For You and Edwell. There would be two more companies namely, Bodhi Healthcare and Sambad Setu, which would be joining within the next two months.

Ashok Banerjee, dean, new initiatives and external relations, at IIM Calcutta said that the incubator will focus on entrepreneurial ventures developing product as well as delivery of services and that they have created an eco-system with all required support to translate an innovative idea to a self-sustaining and financially independent business. Other institutions which have built a strong reputation in incubating startups are IIM Ahmedabad, IIT Madras and IIT Bombay. The company's core model would be 'learn, grow and share' to promote and nurture innovative enterprises.

The company will function under the Centre for Entrepreneurship and Innovation or CEI at IIM Calcutta. The Department of Science and Technology has recognised the park as a technical business incubator and has approved a funding of Rs 7 crore for the capital and operational expenditure of park. IIP will acquire an equity stake of 2-5 per cent in the incubating companies in the form of an upfront transfer to IIP or liquidation of the stake at the time of exit from the park.

Original source : http://indiatoday.intoday.in/education/story/iim-calcutta-sets-up-innovation-park---primary-focus-on-healthcare-education-clean-technology-lifestyle-&-analytics/1/381566.html

Panel finds most deemed universities don’t fulfill criteria

A high-powered committee set up at the behest of the Supreme Court to look into 41 'C' category deemed universities has found that majority of them still do not fulfill the criteria needed to become deemed university. 

"It is likely that around 10 or so have been found fit to be upgraded to become deemed university. Rest of them can exist as educational institutions affiliated to universities. Basically, classification of 'C' category institutions has been done in which a few pass the test of becoming deemed, a few lag behind on certain criteria and others have been found totally unfit," a source said, 

In 2009, the Tandon committee, while reviewing deemed universities, had put 44 of them under the 'C' category and declared them unfit to be a university. These institutions went to the Supreme Court and the matter is being heard. In January, a new committee was set up by UGC to assess 'C' grade universities. UGC will discuss the new committee report on September 22 and 23. 

Sources said the new committee headed by H Devaraj, vice-chairperson of UGC, after hearing 41 deemed universities extensively in July, raised several questions about the manner in which deemed university status was granted. Since the committee was also asked to examine other reports on deemed universities, namely one set up by UGC in 2009, Tandon Committee and Committee of Officers, it found many flaws. 

One, how come many institutions got notified as deemed university on certain conditions. "There is no provision for conditional notification in the UGC Act. If some of the deemed universities had conditional status, did UGC or HRD ministry check if conditions were fulfilled after a certain period. Also, how come many of them with conditional status made it to the 'A' category (high performing) of Tandon Committee," asked a member of the committee. 

He also asked how deemed university status was given to one college which brought its sister institutions under its ambit without getting them separately assessed. The new committee also pointed out serious discrepancy in upgrading eight 'B' category institutions to 'A' category. 

The report was written in the last days of August as Amita Sharma, additional secretary in HRD ministry and a member of the committee, was retiring. Sharma is being brought back as advisor in the HRD ministry. 

Original Source : http://timesofindia.indiatimes.com/home/education/news/Panel-finds-most-deemed-universities-dont-fulfill-criteria/articleshow/41979929.cms