India needs young graduates with creative thinking to develop and manufacture new products to address the challenges faced by the industry and society. In order to mould the students to the expectations of the government, higher educational institutes need to start the innovation and incubation centres. By setting up the innovation and incubation centres at higher educational institutes, small industries gain access not only to leading edge technologies, but also highly trained students, professors and infrastructure facilities while the higher education institutes are benefited from building links with local bodies and improving their objectives regarding student employability. Involvements of the industry in the academic programs of the higher educational institutes are a major mechanism for knowledge transfer. Role in knowledge transmission has been the motivation for the development of Innovation and incubation Centres at higher educational institutes.
In order to create this innovation and incubation culture in the higher educational institutes, students must be developed with all the cognitive levels of learning, every lab in the institute must be equipped with latest gadgets that are used in the industry and the students must be given open ended experiments in laboratories which are design/algorithm based, product development must be part of their curriculum, should be encouraged with the multi discipline research projects in every area of technology such as internet of things, big data analysis, robotics, cyber security and non conventional energy resources. And also involve experts from industry in order to handle few courses for the development of innovative thinking of students which leads to incubation at the higher educational institutes.
Innovation and Incubation centres at higher educational institutes aimed at promoting economic development of the region by supporting start-up companies. The increment of companies in the local market leads to job creation and economic growth of the country. In such a scenario, we would witness a longer queue of job providers than job seekers. In order to fulfil the dream of our honourable Prime Minister i.e. ‘Make in India’, the higher educational institutes will have a significant role to play in the growth of India as they are the breeding grounds for future entrepreneurs.