Panjab University to set up innovation hub on campus
The innovation hub is being funded by RUSA
Panjab University is planning to set up an innovation hub on its campus which is being funded by Rashtriya Uchchatar Shiksha Abhiyan (RUSA).
The varsity has received ₹7.5 crore as the first instalment against the grant of ₹50 crore sanctioned by the ministry of human resource development last year.
The grant consists of two components, ₹15 crore for the innovation hub, 50% of which has been received by the varsity, and ₹35 crore for research, which is awaited.
PU vice-chancellor Raj Kumar said, “The grant from RUSA will have a positive impact on the growth as well as ranking of the university. This is also a blessing for the fund starved university where very little was available for research, infrastructure and innovation.”
“The proposed hub will offer a unique blend of skill development and incubation possibilities for startups. It will not only cater to students from the university, but also from colleges across Chandigarh,” he said.
Rajeev K Puri, university coordinator for RUSA, said, “This grant will be spent on setting up a state of art incubation centre; for skill development; setting up of pre-incubation centres in various departments and improving students’ soft skills.”
The incubation centre will also support startups through loan or seed money so that students’ proposals as well as new innovations can be transformed into industrial platforms.