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BITS Pilani permits students & faculty to take a year off to establish start-ups- Education News

The students and faculty at the Birla Institute of Technology and Science (BITS) Pilani will be now be able to take up to a year off to join a business or establish a start-up as part of the premier university’s new policy to promote innovation and start-ups.

It will also allow its students to earn course credits for working on innovative prototypes or business models. If such students win prizes at State or national-level competitions, they will be eligible for up to 2% grace marks in that particular semester as an incentive to inculcate entrepreneurship. They can also opt for start-up in place of their mini or major project, seminars or summer trainings, according to the draft policy document titled “Innovation and Startup Policy 2022”, which BITS Pilani circulated to its alumni network and shared with the Ministry of Education. The institute will also provide accommodation within its campuses at a subsidized cost for budding entrepreneurs.

The policy says that students can establish a start-up either independently or jointly with faculty, and those showing promise can be provided pre-incubation support as well as help in incorporating the start-up and seeking seed funding. Faculty members can als be involved in start-up on full-time basis by availing either a sabbatical or extraordinary leave or earned leave for a maximum period of one year in return for monetary compensation or by obtaining shares in the enterprise. They will be given the option of engaging, on part-time basis or solely through capital investment in return for shares, where they don’t provide any mentorship or assume a managerial role. Non-teaching staff are also allowed to be involved in start-ups, but only through capital investment with no other managerial, technical or mentorship role.

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