Educomp Raffles Higher Education Ltd has formulated an Incubation Cell for the budding entrepreneurs of JRE Group of Institutes. The objective of the Incubation Cell is to promote entrepreneurship among the students. The seed amount of the Incubation Cell is Rs. 1 Crore.
Explaining the process, Harpreet Singh, Executive Director, Educomp Raffles Higher Education Ltd said, “The Incubation Cell has been formulated for those students who have a flair for entrepreneurship. The company board has approved Rs. 1 Crore for this fund. Here the students will have to formulate the business plan in the second year of their management term. The business plan will be scrutinized by the committee. After the scrutiny of applications, the selected applicants will have to make presentation of their business plans to the committee.”
Sharing the idea behind setting up the Incubation Cell, Mr. Singh said, “Both Educomp and Raffles are run by entrepreneurs. We wanted to encourage the budding entrepreneurs. This is the first time we are taking such an initiative. If all goes well, the other venture capitalists will put more money in the seed amount.”