Unless incubatees see Effective Running of a healthy manufacturing unit, it is difficult to know what all is involved, the problems faced, and solutions to such problems. Few visits to industries is just a glamour and does not achieve much. With this in view, we plan to run a Model Industrial Enterprise within the Incubation Centre. Incubatees have access to discuss their problems and solicit solutions/ideas to solve the problems. With this continuous support, they can have a higher potential for success.
In recent times, there is much disenchantment among students in choosing engineering as a career. We strongly feel that job opportunities are diminishing in the manufacturing sector leading to the current scenario.
The question is how jobs can be created?
We know that maximum jobs are created by Small and Medium Enterprises (SMEs) Key is to have many such manufacturing enterprises that create more jobs than large foreign corporations who either have automated plants with limited jobs or manufacture in other countries and only create jobs in Sales/Marketing/Service in India.
We need to create industry-ready engineers who are capable of contributing in R & D, Product Development, Production, and Related Fields. Our Country needs Entrepreneurs, who will create enterprises and thus more job opportunities. We envision EPIC to be a medium to promote entrepreneurship using the platform provided by ACE. Catching them young, at the student level is the finest opportunity to groom and nurture entrepreneurship
Ambala, which used to be a thriving hub of scientific instruments, not only in India but the whole of Asia, is today losing its charm because of Chinese competition and lack of technology upgradation. Through EPIC we wish to change this scenario and shift the industry into the next Orbit.
In the first year of operation, we plan to have a maximum of 30 incubatees. As the Centre is housed inside the campus of ACE existing students and alumni of Ambala College would be ideally suited to avail the facility and become successful entrepreneurs. People from society at large, who are interested are also welcome to join it.
This Centre will offer multiple benefits, First of all, it will fulfill the motto of ACE, the Host Institution (HI); Become Job providers, not job seekers. It will create jobs for the engineers and will upgrade the industry and technology and our dependence on imports will be reduced.
The total cost of the project is appx. 20cr Out of this appx. 7.5 cr will be contributed by DST, GoI, and the remaining will be invested by HI in the form of land, building, infrastructure, labs and workshops, and other facilities.
How will EPIC be different?
There are many entrepreneurship/incubation centers in our country. What differentiates EPIC is that it will provide students with a live platform to experience how a commercial enterprise functions in the real world.
Students and incubates will have the opportunity to work on different functions of enterprise giving them hands-on experience of the inner workings of a commercial enterprise. For example: How to register and start a company, Manufacturing setup, Sales and Marketing, Purchase, Patent Search/filling, etc. It will demystify how an industry runs and become a nucleus for upcoming entrepreneurs.
To create a successful Model Industrial Enterprise, EPIC is being promoted by seven engineers and successful 1st generation entrepreneurs, who are running and managing their enterprises for over 40 years. Their combined entrepreneurial experience is more than 250 years.
They will be assisted by academicians and FDP trained mentors. Students will benefit from the experience of the promoters and learn practical applications of their engineering, managerial and entrepreneurial skills required to incubate an idea and develop a successful enterprise. Necessary academic inputs are available from the college.