Published: 10th December 2019
Register of Ideas: VTU to link innovators, investors
VTU had also started a project to fund research projects at the undergrads level for all affiliated colleges in 2018, the vice-chancellor said
In the tech city where innovators are found looking for opportunities to turn them into reality, the Visvesvaraya Technological University (VTU) is creating a register for them. This ‘Register of Ideas’ will serve as a streamlined portal wherein entrepreneurs can upload their innovative plans and hope to find a financer.
The plans will be run through a group of experts who would include people of great credentials and credibility from top institutes like the IIM-B, IIT, said vice-chancellor of VTU, Dr Karisiddappa, while speaking to The New Indian Express. VTU is planning to link these innovators to venture capitalists. “The experts will decide which are the ideas that can be validated for investment,” he added.
However, he said the plan was still in its initial phase – “ a one-month-old baby” to comment on the experts that it would choose. These experts will play a crucial role as they would be privy to the business and innovation plans of the young innovators at a point where intellectual property theft has been the talk of the town. “We will be careful that someone should not misuse the ideas,” he added. As what will be a level playing platform for innovators, irrespective of their background, Karisiddappa said, “Once the idea of a faculty or student or anybody – even a farmer – which is registered with VTU, the details of the ideator will be masked.”
And once the idea is sent to experts, and they approve of it, VTU will send it only to those venture capitalists whose area of interest coincides with the idea. This push towards scientific temperament among students comes in the backdrop of industrialists constantly complaining about unemployable engineering students.
VTU had also started a project to fund research projects at the undergrads level for all affiliated colleges in 2018, the vice-chancellor said.