Paving The Way For Future Entrepreneurs - Parul University’s Entrepreneurship Development Centre

New Delhi: Parul University, a leading educational institution in India, recognizes the crucial role of entrepreneurship in driving economic growth and creating jobs. To promote this mindset among its students and future business owners, the university founded the Entrepreneurship Development Center (EDC) in 2013. Recognizing the vital role of entrepreneurship in fueling economic growth and job creation, Parul University is thrilled to provide students with a dynamic support system through the EDC.

In 2015, Parul University registered a Section 8 company called Parul Innovation and Entrepreneurship Research Centre (PIERC) in recognition of the growing importance of entrepreneurship. With this significant move, the university has now formalized its commitment to provide complete support and services to startups from the initial stage through the growth phase.

"At Parul University, we believe that entrepreneurial skills are essential for success in today's dynamic world," says Dr. Parul Patel, Vice President, Parul University. “As a catalyst, the EDC gives students the tools, direction, and encouragement they need to transform their ideas into profitable endeavours.”

A Comprehensive Support System for Aspiring Entrepreneurs

The EDC provides a complete ecosystem for entrepreneurs at all stages of their business with a broad array of initiatives and services:

• Startup Counseling & Handhold Support: Ensure that the ideas students develop are relevant to real-world requirements and challenges
• Fab Lab: Houses advanced technology like 3D printers, laser cutters, and CNC routers that allow students to bring their ideas to life through rapid prototyping
• Access to Pre-Seed & Seed Grants & Funding Opportunities: The EDC connects startups to a variety of funding sources, such as private investments, government grants and short-term loans
• Co-working Space & Allied Resources: Providing flexible workspaces, meeting lounges, and a seminar hall to foster growth and collaboration
• Startup Programs: Programs like the Incubation Program, Launchpad Program, and Accelerating Program support startups at different stages, from development to scaling
• Product Development: The Fab Lab and other prototyping facilities help innovators refine their products and prepare them for market launch
• Mentor Connect: Experienced startup mentors and domain experts provide guidance and support to budding entrepreneurs

Impact and Achievements

The university’s EDC’s success is further reflected in its impressive track record. It has incubated more than 180 startups, creating over 1100 jobs and bringing in ₹30 crores in revenue. Beyond incubation, the center, with a focus on the holistic education of entrepreneurship, educated over 40,000 students. Moreover, it facilitated over ₹8.6 crore in funding to support startups.

Beyond the remarkable track record, the EDC organized over 100+ annual events, including the Vadodara Hackathon, Women's Startup Meet 2020, and Vadodara Startup Festival 2020, among others. These events provide students or aspiring entrepreneurs with valuable platforms to network with renowned companies or industrial experts, learn from their journey, and exchange innovative ideas. 

Parul University's Entrepreneurship Development Centre is critical to nurturing the next generation of entrepreneurs.  By offering a comprehensive support system, the EDC is enabling students to translate their ideas into reality, adding to India's entrepreneurial landscape and driving economic growth.

To get more information, please visit: https://paruluniversity.ac.in/

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