In a step forward, oikos Pune chapter established a “Sustainability and Innovation Incubation Center” at the Symbiosis Institute of Business Management (SIBM), a school at Symbiosis International University. The Sustainability and Innovation Incubation Center, the first center of its kind in India, will help students to research sustainability opportunities in businesses. Sustainability and Innovation Incubation Center is formed with an aim to serve and incubate new product/service developments and promote new entrepreneurs in the field of sustainability and Innovation. SIVIC will also assist and mentor the students with networking, knowledge, and technical support. Students will be able to interact with the new entrepreneurs and discover new motivation and influence. Student at the center can gain and learn from the experience of new ventures coming out of SIVIC.
On Saturday, the 11th of January 2014, the Sustainability and Innovation Incubation Center has been officially inaugurated by Mr. Mahajan, president of The Indus Entrepreneur (TiE) of Pune. TiE is a non-profit global network of entrepreneurs and professionals, established to foster entrepreneurship and nurture entrepreneurs. In his speech, Mr. Mahajan emphasized the need to inculcate the importance of sustainability among the youth. He also urged the student community to analyze the unlimited opportunities available in the green world for innovation and sustainability research. Dr. Sane, Director of SIBM, also advised the students not only to chase jobs but also to create jobs by becoming an entrepreneur.
The impact of the Sustainability and Innovation Incubation Center will be to produce profitable firms that will make the Eco system more sustainable and independent. By incubating and materializing the conceptual ideas among the students and faculty members of SIBM, the center hopes to create value added products of business and technology innovation. SIVIC will nurture nascent ventures by providing workspace and shared facilities along with focused counseling. The SIVIC will be organizing activities based on two principles. The first principle is the so-called “Open office”, which will allow everyone to separately work on one specific project. The second principle is called “shared office” and can include up to five students. Once the project reaches the desired stage of development, the next step of the shared office will be shifting the project to the Venture capitalists. The Sustainability and Innovation Incubation Center will also organize workshops to enhance the skills and problem solving of the participants. A total of 46 students who are interested in starting business ventures in Sustainability sector have already enrolled for direct / virtual incubation at SIVIC.