AMU launches Entrepreneurship and Incubation Centre at Frank and Debbie Islam Management Complex
Published: October 10, 2018 at 5:50 pm
Vplnews, Aligarh, October 10: With a view to promoting entrepreneurship and innovation among students, the Department of Business Administration, Faculty of Management Studies and Research, Aligarh Muslim University (AMU) today launched the Entrepreneurship and Incubation Centre at the Frank and Debbie Islam Management Complex.
Presiding over the function, AMU Vice Chancellor said that with the scarcity of jobs in the government sector makes entrepreneurship very aspect of the economy as it can change the way we live and work. Innovations will improve our standard of living, and in addition to creating wealth with their entrepreneurial ventures and creating jobs for a prosperous society, pointed out the Vice Chancellor.
“No matter what businesses we start, it is important for us to do the required hard work. Trailblazing offerings by entrepreneurs, in the form of new goods and services, can produce a cascading effect by stimulating related businesses or sectors supporting the new venture, but the necessary hard work is required for improvements along with motivation and courage,” said the Vice Chancellor.
Speaking on entrepreneurship in India, the Chief Guest, Dr M V Kumar, a renowned entrepreneur and mentor said that several initiatives have been taken and policies instituted to foster a culture of innovation and entrepreneurship in the country. “Job creation is a foremost challenge facing India. With a significant and unique demographic advantage, India, however, has immense potential to innovate, raise entrepreneurs and create jobs,” pointed Dr Kumar.
Explaining Vision India 2020 and why India needs an entrepreneur’s magic touch, Dr Kumar stressed on the importance of innovation. “With a growing economy, India is advancing in technological innovations and there is a need to develop quality products in time and cost effective manner, for becoming globally competitive and for making a mark in the entrenched international market,” he said.
Keynote speaker, Mr Ziaul Islam Sherwani, Director Cordova Publications Private Limited emphasised that start-ups succeed because of innovative ideas and equally important for a venture to succeed is ‘focus’. “Every idea comes down to your willingness to give your life for that idea. It doesn’t matter how many other people are doing business in the same space. It’s about your focus and your will to walk the entire mile,” he said.
Prof U B Nanda Gopal discussed the critical role of Research and Development in the innovation process. “Research and Development is essentially an investment in technology and future capabilities which is transformed into new products, processes, and services,” he said adding that when entrepreneurs invest in Research and Development, they get huge influx of knowledge that can be used to further develop the main product lines.
Welcoming the guests, Prof Parvaiz Talib, Chairman, Department of Business Administration said that innovation is the basic idea behind a successful commercial venture.
He said that the Frank and Debbie Islam Management Complex was established with the generous donations from the alumni and Dr Frank F Islam, a distinguished US based AMU’s alumnus had donated US Dollars two million for the project. “The Entrepreneurship and Incubation Centre will be renamed during Dr Islam’s AMU visit scheduled in February, 2019,” informed Prof Talib.
Prof Valeed Ahmad Ansari proposed the vote of thanks.