DOCUMENT CONTROL AND INDEX

TABLE OF CONTENTS

INTRODUCTION, PURPOSE AND SCOPE

1. INTRODUCTION

Vel Tech High Tech Dr.Rangarajan Dr.Sakunthala Engineering College recognises that innovation is essential to institutional quality, accountability and stakeholder confidence. This policy establishes a structured framework to create an enabling ecosystem for ideation, innovation, entrepreneurship, startup formation, incubation, industry collaboration and responsible commercialization.

2. PURPOSE

To create an enabling ecosystem for ideation, innovation, entrepreneurship, startup formation, incubation, industry collaboration and responsible commercialization.

3. SCOPE

Students, faculty, staff, alumni, innovators, startups, mentors, incubatees and institutional innovation facilities.

OBJECTIVES

4. OBJECTIVES

• Develop innovation and entrepreneurial capabilities.
• Support ideas from problem identification to prototype and market validation.
• Connect innovators with mentors, laboratories, industry and funding.
• Protect intellectual property and clarify ownership/benefit-sharing.
• Encourage inclusive, ethical and socially relevant innovation.

POLICY FRAMEWORK

5. GUIDING PRINCIPLES

1. Participation in innovation shall not compromise academic or employment responsibilities.
2. Selection for institutional support shall be transparent and merit-based.
3. Conflicts of interest and use of institutional resources shall be disclosed.
4. Intellectual-property and revenue-sharing decisions shall be documented before commercialization.
5. Failure of a responsible experiment shall be treated as learning, while misuse or misrepresentation is unacceptable.

6. GENERAL POLICY COMMITMENT

The Institution shall implement this policy through approved roles, adequate resources, documented procedures, transparent communication and measurable review. Decisions and exceptions shall be recorded and authorized by the competent authority.

POLICY PROVISIONS

7.1 IMPLEMENTATION REQUIREMENTS

1. The Institution shall maintain an annual innovation calendar covering awareness, ideation, mentoring, prototype, IPR, startup and investor activities.
2. Ideas may be screened based on novelty, feasibility, impact, team capability and ethical/safety considerations.
3. Approved teams may access laboratories, workspace, mentoring and institutional networks under defined terms.
4. Incubation support shall be governed by an agreement covering duration, facilities, confidentiality, IP, fees/equity where applicable and exit conditions.
5. Students may pursue approved innovation projects with academic mentoring and appropriate course/project alignment.

POLICY PROVISIONS — CONTINUED

7.2 IMPLEMENTATION REQUIREMENTS

6. Faculty participation in startups or external ventures shall require disclosure and approval to manage conflicts and workload.
7. Institutional seed support shall follow published criteria, milestone review and utilization reporting.
8. IP created using institutional resources shall be handled under the approved IPR framework and inventor agreements.
9. External communication, fundraising and representation using the Institution's name shall require authorization.
10. Innovation outcomes shall be monitored beyond event counts, including prototypes, pilots, IP, startups, revenue and societal impact.

ROLES AND RESPONSIBILITIES

8. ROLES AND RESPONSIBILITIES

• Principal/IIC leadership approves programmes and partnerships.
• Incubation Cell manages pipeline, mentors, facilities, agreements and reporting.
• Departments identify problems, mentors and technical resources.
• Innovators disclose contributions, use resources responsibly and meet milestones.
• Finance, legal/IP and industry-relations functions support compliant commercialization.

IMPLEMENTATION PROCEDURE

9. IMPLEMENTATION PROCEDURE

1. Submit idea or incubation application.
2. Screen and mentor the proposal.
3. Approve support and execute terms.
4. Review technical and commercial milestones.
5. Protect IP and conduct pilot/market validation.
6. Graduate, commercialize, extend or close support based on evidence.

RECORDS AND COMPLIANCE

10. RECORDS AND EVIDENCE

• Idea and startup applications
• Screening and mentoring records
• Incubation/resource-use agreements
• Seed-fund utilization and milestone reports
• IP, pilot, investment and startup outcomes

11. MONITORING INDICATORS

• Ideas converted to prototypes
• IP filings and granted rights
• Startups/incubatees and survival
• External funding, revenue or investment
• Industry and societal adoption

12. CONFIDENTIALITY, RETENTION AND ACCESS

Records shall be accurate, retrievable and protected against unauthorized alteration, disclosure or destruction. Access shall be role-based and limited to legitimate institutional need. Retention and disposal shall follow the approved schedule and applicable requirements.

13. NON-COMPLIANCE

Non-compliance may result in corrective action, withdrawal of access or benefit, recovery of loss, disciplinary action, referral to a statutory body or other proportionate action after due process.

REVIEW AND APPROVAL

14. REVIEW AND AMENDMENT

The policy owner shall review this document at the stated cycle or earlier due to changes in law, regulation, institutional structure, technology, risk, audit findings or stakeholder requirements. Amendments shall take effect only after approval and version control.

15. REFERENCES

• Applicable national innovation/startup guidance and institutional IPR policy
• Approved business-incubation and research/consultancy rules

16. APPROVAL AND SIGNATURES

This is a controlled institutional document. Printed copies are uncontrolled unless specifically stamped and issued by the authorized office.