An incubation centre set to come up at St Xavier’s College will encourage and hand-hold start-ups by students and alumni.
The hub will function under the guidelines of the Centre’s science and technology wing and help current and past students, Father Dominic Savio, the principal of St Xavier’s College (Autonomous), said.
It will take the college around a year to set up the centre behind the Satyajit Ray Film and Television Institute (SRFTI), off the EM Bypass.
“We are trying to open the centre by next year,” the principal said. “The prime objective will be to create entrepreneurs and by giving them the required knowledge and skill, facilitate tie-ups with banks and government agencies for their seed capital as well as helping them find angel investors for their ventures.”
The science departments of the college will be able to provide newer technologies, while the commerce and management departments will guide them with business techniques. The college will also invite alumni with successful businesses to share tips with the students.
Pre-incubation is needed to meet the challenges that a start-up faces even before it gets into the regulatory work necessary for registration, the principal said. The centre will encourage students to first work on identifying market segmentation, figuring out customers and what it takes to offer a full product or solution.
