Engineering students aspiring to become entrepreneurs will soon receive dedicated support to transform their innovative ideas into successful business ventures. The Institute of Engineering and Technology (IET), under Devi Ahilya Vishwavidyalaya (DAVV), is set to establish a government-supported MSME Innovation-cum-Incubation Centre (MIIC), creating a significant boost for the startup ecosystem in the region.
The centre will be established through a collaborative agreement between Madhya Pradesh Laghu Udyog Nigam Limited (MPLUN), Bhopal, and IET-DAVV. The initiative aims to provide a structured platform where young innovators can access mentorship, technical guidance, funding support and industry connections to develop and scale their entrepreneurial ventures.
Unlike many incubation centres that primarily serve students from a single institution, the upcoming MIIC will have a broader reach. It is expected to benefit students from more than 35 engineering colleges across Indore, creating opportunities for over 23,000 aspiring engineers and innovators. The move is being viewed as a major step toward strengthening innovation-driven entrepreneurship in central India.
To house the facility, approximately 2,500 square feet of space has been allocated within the IET campus. The incubation centre will offer comprehensive assistance at every stage of the startup journey. Students will receive support in project documentation, business proposal preparation, training programmes, and securing financial assistance through various government schemes and funding channels.
The state government has sanctioned an initial budget of ₹80 lakh for setting up the infrastructure, including furniture, equipment and other essential facilities. Additional financial assistance for promising startup projects will be arranged separately through state and central government initiatives aimed at promoting entrepreneurship and innovation.
The centre will also provide access to advanced laboratories, modern equipment, research facilities and networking opportunities with industry experts. These resources are expected to help young entrepreneurs refine their products, validate business ideas and gain practical exposure to market requirements. Students and alumni from all engineering disciplines will be eligible to seek support from the incubation centre.
According to IET Director Dr. Pratosh Bansal, the initiative will play a crucial role in strengthening the culture of innovation and entrepreneurship among students while simultaneously supporting the growth of the Micro, Small and Medium Enterprises (MSME) sector. He noted that the centre would bridge the gap between technical education and industrial application by providing both technical and business development assistance.
To ensure effective management and implementation, senior Mechanical Engineering professor Prof. Ashesh Tiwari has been appointed as the in-charge of the centre. He will oversee incubation activities, startup mentoring programmes and coordination with industry partners and government agencies.
One of the centre’s key targets is to facilitate the creation of at least 20 new enterprises every year. To achieve this goal, selected startup teams will receive intensive support through boot camps, innovation challenges, hackathons, entrepreneurship development programmes, pitching events and specialized workshops. These activities are designed to equip students with the skills required to convert innovative concepts into commercially viable businesses.
DAVV Vice-Chancellor Prof. Rakesh Singhai emphasized that the incubation centre will serve as a common platform connecting students, researchers, entrepreneurs and local industries. By encouraging collaboration among academia and industry, the centre aims to accelerate innovation-led growth and generate employment opportunities in the region.
The establishment of the MSME Innovation-cum-Incubation Centre reflects the growing emphasis on nurturing entrepreneurship within educational institutions. As India continues to promote startup-led economic growth, initiatives such as the MIIC are expected to empower young innovators, encourage self-employment and contribute to the development of a vibrant startup ecosystem in Madhya Pradesh.
With dedicated infrastructure, expert mentorship and access to funding opportunities, the upcoming centre is poised to become a catalyst for transforming engineering students into future business leaders and job creators.
Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
