HYDERABAD: Startups play a significant role in economic growth by encouraging entrepreneurship, spurring innovation and creating jobs. Incubators gain importance as they provide these start-ups with a range of support services.One such Hyderabad-based incubator, which is student-centric, is EdVenture Incubation Foundation (EdVenture Park) started in April 2019 and hosted by MS Education Academy.
On Saturday, they announced the graduation of the first cohort of their pre-incubation programme. It also announced funding to two student startups — Plastocons and Splash Water. Plastocons uses waste plastics to create construction material such as bricks, blocks and tiles which are 50 per cent lighter from the conventional bricks and builds 25 per cent faster and cheaper. Splash Water is standardising the unorganised water vendor network and making it easy for them to maintain quality and deliver a better experience to customers.
The other incubated startups are AppaRent, Vivify, LecturePro, Bizrah, The Good Pharmacy, Kiddiewink School, Spadit and RentEra.
The first cohort received responses from 180+ applications, out of which 45 were called for interviews, and 25 selected for the pre-incubation programme. The pre-incubation programme lasted for three months, with a structured curriculum, focused on practicalities of building a company from idea to product, to a profitable business. 10 of the 25 have been further selected for a three-month intensive incubation programme. At least 21 women entrepreneurs were also part of the first cohort.
“Designed to accommodate the academic schedule, EdVenture Park is working towards building the mindset of a ‘job creator’ economy, rather than a ‘placement’ mindset,” said Meraj Faheem, CEO, EdVenture Park, founder, The Hacking School and CEO, Code.in.
Meraj Faheem, 32, a serial entrepreneur started his entrepreneurial journey right from his college days when he built an automated forex trading algorithm that auto executed trades and later sold it in 2011.
A biotech engineer, he says: “EdVenture Park is a community ecosystem that I wish existed while I was in college.” The idea of this enterprise, “strengthened when I got to work closely with 45 other incubators as an Innovation Fellow, Government of Telangana.”
Ilyas, incubation manager, EdVenture Park commented on what makes this different from other incubators: “It is a platform for student entrepreneurs with an objective to connect talent with opportunity. We cater to the area which is neglected and offer complete support to passionate student entrepreneurs through our pre-incubation programmes where we work with raw ideas and shape the innovative ideas of today for a better tomorrow.”
Currently working with about 20 institutions, “We want to reach all the colleges in Telangana, identify talented student entrepreneurs and provide them with mentoring, support and funding to help them take their ideas to the next level,” shares Meraj.
— Tamanna S Mehdi
tamanna@newindianexpress.com
@tamannamehdi