A group of 25 budding entrepreneur students from Kalinga Institute of Social Sciences (KISS-DU), Bhubaneswar, visited the Centre of Excellence (COE) at Kalinga Institute of Industrial Technology – Technology Business Incubator (KIIT-TBI) on 3rd September, 2024. The visit was part of a mentoring session which was organized under the banner of Institution Innovation Council (IIC), Ministry of Education (MoE), Government of India (GoI) aimed at educating early-stage entrepreneurs about the role of accelerators and incubators in fostering innovation and entrepreneurship. Mr. Bhabatosh Lenka, Product Development Engineer at KIIT-TBI, delivered an engaging and informative session focusing on the importance of incubators for institutions and the opportunities they offer to both students and faculty members who aspire to become entrepreneurs. He discussed how incubators provide a structured environment for nurturing innovative ideas and transforming them into viable businesses.
Mr. Lenka listed key services such as:
- Access to co-working spaces and laboratories
- Legal and financial advisory services
- Business model development
- Assistance with intellectual property rights and patent filing
- Access to funding and venture capital networks
- Networking opportunities with industry experts
He also clarified the distinctions between pre-incubation, incubation, and acceleration phases, explaining how each phase caters to different stages of a start-up’s journey, from ideation to market scaling. He outlined how incubators help connect entrepreneurs with seasoned mentors from relevant industries, fostering knowledge transfer and offering guidance through the complex stages of business development. Networking opportunities with investors and industry leaders were also discussed as critical for securing partnerships and funding.
The visit to the Centre of Excellence (CoE) at KIIT-TBI and the session led by Mr. Bhabatosh Lenka proved to be an enriching experience for the 25 student participants. They gained a comprehensive understanding of the role of incubators and accelerators in fostering innovation, the services these institutions provide, and how they can be utilized for early-stage entrepreneurial success. The session effectively cleared doubts and inspired students to explore opportunities in entrepreneurship, further solidifying the institution’s role in promoting an innovation-driven culture.
