IILM Centre for Entrepreneurship Development & Innovation

IILM Centre for Entrepreneurship Development & Innovation (ICEDI) encourages the exchange of innovative ideas that will shape the future of entrepreneurship. The mission of creating entrepreneurs is achieved through the vibrant culture of participation in structured courses, webinars, seminars, discussions, and via a series of entrepreneur’s talks, business simulation games and mentoring.

IILM accelerates new ventures by providing emerging entrepreneurs access to opportunities, community, and critical resources. The ecosystem at ICEDI facilitates ventures from the first stage of ideation to gap analysis, validation, prototype development, testing onto the final stages of commercialization. The art of making a business plan, pitching business ideas, building networks, and scaling up are learned at ICEDI under the incubation centre.

The following are key initiatives taken by this centre –

Incubation: In order to provide a platform to new ideas and innovative minds, IILM provides an incubation centre to students. The premises provides office space required by students in the initial phases of ideation. We also have interactions with investors and venture capitalists for feedback and possible finance

Funding: IILM has also provided funding for student projects. One such project is focused on agricultural sustainability catering the meagre rainfall issues at the agricultural fields. The project proposed an umbrella-based design for aiding cloud-seeding using a self-landing hybrid rocket. This shall prove to combat the problems in rain-drought areas and flourish the agricultural produce in an effective way.

Networking and Collaboration Opportunities with Entrepreneurs: Through the IILM network, students have access to mentorship from serial entrepreneurs like Mr. Naveen Jain. Mr. Naveen is on the board at the Singularity University in the Silicon Valley, which is focused on educating and inspiring leaders to address humanity’s grand challenges through innovative technologies.

Annual Entrepreneurship Conference: Conferences/ workshops and seminars are regularly organised to bring together entrepreneurs and business leaders from various industries, both established and start-ups, to enlighten students about their entrepreneurial journey and various challenges faced by them and how they overcame them to survive in the current environment.

Personalised Mentoring: Specialised and customized mentorship is provided by accomplished educators and experienced practitioners that build strong mentoring relationships with students and guide prospective entrepreneurs on various aspects. This also helps to reinforce concepts, processes, and skills associated with identifying new ideas, opportunities and methods for starting a new venture.

Entrepreneurship Club: IILM established IILM Institution’s Innovation Council in the year 2018. The composition of council is based on the guidelines provided by MHRD’s Innovation Cell. Students and faculty members participate in many activities organized by the IIC and MHRD’s Innovation Cell. ILM IIC commits to engrave leadership and management skills in their students through a host of initiatives like personalized mentoring, interaction with domain experts, live company projects, workshops, events and conferences, thought evoking activities/games, networking, sessions with start-up founders, and simulations to initiate and develop the entrepreneurial spirit among students.

This club is run by motivated and enterprising students who organise events and conferences on campus and represent IILM at similar platforms. In the process students learn event management, networking and public speaking skills as well as get ideas and a platform to start or scale up their own ventures. Guest lecture series are regularly organised by the E Cell by the industry leaders to provide insights and learning on different aspects of entrepreneurships and start-ups. These lecture series aim to motivate budding and future entrepreneurs to discuss and deliberate upon the new skills sets and competencies required by new-age entrepreneurs and take the entrepreneurial journey forward to realize their dreams. Innovation weeks are also organised during the year to encourage students’ creativity and entrepreneurial spirit and strengthen the innovative side of students. The E cell provides a lot of exposure in terms of providing experiential training through live projects with industries/companies and field visits.