National INNOVATION and STARTUP Policy (NISP)
The National Innovation and Startup Policy for students and faculty of Higher Education Institutions (HEIs) is a guiding framework to enable the institutes to actively engage students, faculties and staff in innovation and entrepreneurship related activities.
Indian higher education system is considered as one of the largest in the world in terms of numbers of higher educational institutions (HEIs) and stands among top three of largest start up ecosystem. In last 10 years, Indian higher education system has grown by 79%. Presently, India has more than 41435 HEIs with annual enrolment of 28484746 students.
When India aspires to become 5 trillion GDP economy by 2024, it is very important to achieve excellency in both quantitative and qualitative growth of education system by making it globally relevant, competitive and industry fit while simultaneously focusing on self-employment through sheer emphasis on innovation, skills and entrepreneurship among students and faculty. This can be achieved by taking innovation, technology and start up as key instruments to gear up the socio-economic development process and adopting reformative policy approaches to get out of the Job Seeker tag and making HEIs innovative and entrepreneurial in function. This will certainly help to produce more innovators and entrepreneurs, further, improving its positioning in global ranking for quality of higher education from the current 24th and also moving up in the Global Innovation Index from current position of 52nd in 2019 to among top 30.
The National Innovation and Start-up Policy intends to guide HEIs to promote student driven innovations & start-ups and to engage the students and faculty in innovation and start up activities in campus.
The policy aims at enabling HEIs to build, streamline and strengthen the innovation and entrepreneurial ecosystem in campus and will be instrumental in leveraging the potential of science, student’s creative problem solving and entrepreneurial mind-set, and promoting a strong intra and inter-institutional partnerships with ecosystem enablers and different stakeholders at regional, national and international level.
The entrepreneurial ecosystem in HEIs will play key role in identifying, mentoring, nurturing innovative and entrepreneurial potential of students, faculty and staff and transforming them into start-up entrepreneurs by provided avenues of funding, investment opportunities and networking support to make the innovation and venture successful.