New Horizon College of Engineering (NHCE) is a renowned educational institution that not only provides high-quality education but also brings about social change by helping students and the entire ecosystem get more than just job opportunities. As part of this mission, NHCE has launched the 'AtamaNirbharBharat Abhiyan' initiative. The college has set up its self-funded incubation center, called the New Horizon Council for Innovation, Incubation, and Entrepreneurship (NHCIIE). This center operates as a non-profit company under Section 8(1) of the Company Act of 2013. Previously known as the New Horizon Centre for Innovation, Incubation, and Entrepreneurship, NHCIIE provides incubation and pre-incubation support to aspiring entrepreneurs. It has dedicated infrastructure including workspaces, an innovation lab, discussion rooms, an ED Cell, and an IPR Cell.

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The Incubation Centre has a built-up area of more than 3000 sq. ft. and has an ED Cell of more than 700 sq. ft. and an IPR Cell of more than 600 sq. ft. built-up area. The cells have facilities for technology incubation, workstations, and board rooms. During the academic year 2022-23, The Incubation Centre has achieved 38 MSME – Udyam Registrations and 06 Private Limited Incorporations with the Ministry of Corporate Affairs. For the co-creation of I&E activities, NHCIIE has collaborated with reputed industries to provide various support.

One of the aims is to create a vibrant ecosystem for innovation and provide a unique platform for the students, Alumni, and faculties of NHCE to fulfill their academic dreams and develop independent thinking to achieve goals in life. It embraces different ideas of students, nurtures them and provides support and guidance to the students to transform their initial ideas into real innovators leading to successful entrepreneurs.

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Financial Budget

In the financial year 2022-2023 budget, NHCE has set aside 1% of its Annual Budget for the various Entrepreneurship initiatives. The objective is mainly to inculcate an entrepreneurial culture among students and motivate them to launch start-ups to solve problems at the grassroots level. Some of the Initiatives include:

  1. Hosting in-house intercollegiate events.
  2. Organizing informative talks by entrepreneurs or alumni.
  3. Organizing field exposure events to nurture innovation and entrepreneurship skills.
  4. Providing sponsorship for entrepreneurship development initiatives at both state and national levels.
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The extensive objectives of the centre are:

  1. To inculcate an innovative mindset amongst students and alumni about entrepreneurial skills.
  2. To establish a conducive environment for startups.
  3. Ensuring the start-up ecosystem is facilitated by providing support in areas like knowledge upgrading, mentoring, legal and finance help, technology availability, management of intellectual property rights, cheap infrastructure and other value-added services.
  4. Promote collaboration between students and faculty to enhance research and creative endeavors.
  5. To Transition practice ventures into real ventures by focusing on market opportunities and customer needs.
  6. To serve as a platform to inspire students to cultivate innovative ideas under the umbrella of the Center for Innovation, Incubation, and Entrepreneurship.

Benefits of the Centre: 

  • Fundraising: NHCIIE provides support the startups by facilitating investment opportunities through investment partners. The cell also helps the startups connect with angel investors or venture capitalists for fundraising.
  • Intellectual Property Rights: NHCIIE assists in safeguarding the innovations and protects the unique aspects of the innovation.
  • Legal services: NHCIIE assists in navigating the legal landscape efficiently by providing help in Startup Registration and obtaining the necessary licenses to set up the business.   
  • Knowledge resource: The state-of-the-art facility offered by the institute benefits the entrepreneurs and founders by accessing market research databases, legal advice, and prototyping facilities. Experienced faculties at the institute also provide invaluable mentorship and guidance to the founders.
  • Mentorship & Idea Validation: The mentorship program offers personal guidance to refine the initial business ideas and also combat the challenges faced during the initial stages of the business.
  • Coworking Space: NHCIIE offers a Coworking Space to inspire creativity and foster connections.
  • Prototyping & Testing Labs: NHCIIE had Prototyping & Testing Labs where the basic ideas take into shape. With the help of expert guidance and cutting-edge technology, entrepreneurs get the perfect environment to refine the concepts, iterate designs and conduct testing.
  • Networking & Collaborations: NHCIIE had a community for Networking & Collaborations which helps bring mentors, entrepreneurs, and investors all together. This aids in creating an environment for meaningful partnerships and innovative ideas to flourish.