establishing and running an apssdc/i2e venture...

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Establishing and Running an APSSDC/i2E

Venture Center (VDC/VIC)

Introduction Background: Andhra Pradesh State Skill Development Corporation (APSSDC), in partnership with

Northeastern University, Boston, Massachusetts, USA (NU), has established the International Institute of

Entrepreneurship Development (i2E) to rapidly build a vibrant entrepreneurship ecosystem in the state

of Andhra Pradesh. Key among i2E’s objectives are:

a) Promote a culture of innovation based entrepreneurship

b) Build competencies through practical, hands-on experiential learning

c) Help empower entrepreneurs to launch successful ventures

Entrepreneurship and Venture Development Programs. i2E offers the following programs, under

partnership with, and close supervision of Northeastern University:

1) Venture Development Diploma Program (VDDP) (12 months)

2) Certificate Program on Perspectives on Entrepreneurship (PoE) (1 month)

The certificates and diplomas are awarded jointly by APSSDC and Northeastern University.

Pilot Year (2017-18). In its first short year of pilot operations (2017-18), i2E has quickly established its

brand and presence among colleges and universities of Andhra Pradesh, through the appointment of

Venture Development Centers (VDCs) in five (5) campuses in the Amaravati Capital Region. The five

VDCs are at:

1. DVR & Dr HS MIC College of Technology

2. Koneru Lakshmaiah Education Foundation

3. RVR & JC College of Engineering

4. Vasireddy Venkatadri Institute of Technology and

5. Velagapudi Ramakrishna Siddhartha Engineering College

The initiative has yielded 106 student ventures, which are at various stages of development leveraging

Northeastern University’s proprietary Ready-Set-Go process. A number of these ventures demonstrated

their ideas at i2E Demo Day in early July, attended by over 3,000 visitors from all over the state. Intense

coaching of the ventures by the i2E and NU teams has resulted in a steady stream of awards and

recognition in a series of events since. A number of colleges and universities from across the state have

been approaching APSSDC for participation in the program.

Expansion. Based on the success of the pilot and the broad interest expressed by the state’s education

community, APSSDC has undertaken plans to expand i2E operations to the entire state of Andhra

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Pradesh in the current academic year (2018-19). Please see below a visual representation of the

proposed network of venture centers that are being planned, which includes fifteen (15) Venture

Development Centers (VDCs) and up to fifty (50) Venture Initiation Centers (VICs).

The venture development operations are managed by a central Program Management Office (PMO),

staffed by a carefully selected and trained team of coaches, coordinators and experienced program

delivery staff, overseen by senior representatives of Northeastern University and APSSDC.

1 i2E Venture Centers and Program Management Office

PMO

VDC1

VDC15

VDC5

VDC3

VDC2

VDC4

VIC1

VIC50

VIC25

VIC20

VIC15

VIC10

VIC6

VIC11

VIC16

VIC46

VIC21

VIC5

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VDC = Venture Development Center

VIC = Venture Initiation Center

PMO = Program Management Office

PMO and Venture Center Activities:

Activity PMO VDC VIC

Number of Centers planned 1 15 50

Entrepreneurs Club X X

Perspectives on Entrepreneurship (PoE) Learning Modules X X

Venture Development Diploma Program (VDDP) – Ready/Set/Go Learning Modules

X X

VDDP Venture Development – Ready/Set/Go Process X

Venture Teams Coaching X

Prototype/Gap Funding Pool Creation X

Prototype/Gap Funding Administration X

Program Management and Oversight X

Mentor Network Administration X

Investor Network Administration X

Venture Initiation Centers (VICs), with a minimal investment, act as first level centers of

entrepreneurship, consisting of an active Entrepreneurs Club and other awareness programs, while

Venture Development Centers (VDCs) are full-fledged nodes of activity requiring a higher level of

commitment in allocating dedicated facilities, personnel and investments.

Please review details, in the ensuing pages, of the program and qualifying criteria to be eligible to start

either a Venture Development Center (VDC) or a Venture Initiation Center (VIC) on your campus.

If you are in agreement, please check, fill and sign the next one page (page 4) and return it to us for

consideration to be appointed as an APSSDC/i2E Venture Center.

We at i2E, APSSDC and Northeastern University thank you in advance for your interest in participating in

the entrepreneurship ecosystem development initiative.

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Expression of Interest (EoI) for Appointment as a Venture Center

(VDC or VIC) (Please return this page to APSSDC, checked, filled and signed)

VDC/VIC Checklist. Following is a checklist of requirements to be met for consideration as a Venture

Center (VDC or VIC) for 2018-19. Please read the details in the following pages carefully, and place a

checkmark against each requirement if you are in agreement.

Would you like your College to be considered for VDC or VIC? _______________________

Requirements common to both VDC and VIC:

Management Access: Point of Contact

Name, Email, Mobile: ______________________________________________________

Administrative Access: Principal/Dean

Name, Email, Mobile: ______________________________________________________

Buy-in/Participation from all Heads of Departments

Establish Entrepreneurs Club per i2E guidelines

Enrollment and Tuition Commitments for VDDP and PoE (details in the attachment)

Cost sharing with APSSDC (details in the attachment)

Alumni and Local Business Engagement

Additional Requirements specific to consideration as a VDC:

Full-time VDC Coordinator, dedicated to i2E activities

Full-time Venture Coach, dedicated to venture coaching

Integration of VDDP into Curriculum

Dedicated Center and Infrastructure per i2E standards

Creation of Prototype/Gap Funding Pool (details in the attachment)

Other Resources as needed

By accepting the terms contained herein and by signing below, your institution requests consideration

for appointment as a Venture Center (VDC or VIC) for 2018-19 under the APSSDC i2E Program.

Name & Address of Institution: _____________________________________

Authorized Signatory

_________________________________

_____________________________________

_________________________________ Name and Title

Date Signed: __________________

_________________________________ SEAL

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Commitments Required for Appointment as an i2E Venture Center

(VDC or VIC)

Requirements Common to Both VDC and VIC:

1. Management Point of Contact. College Management/Board shall provide the facilities and

resources listed below, and commit to undertaking the program without any interruption. A

member of Management shall be named as contact person, and shall be directly accessible to

the i2E program team, for any decisions from time to time that require Management approval.

2. Administrative Point of Contact. College Administration (Principal/Dean) shall be freely

accessible to i2E program team for making day-to-day tactical decisions and administrative level

approvals for smooth operations. He/she shall direct the heads of departments (HoDs) to work

closely with the venture development team in the execution of the program.

3. Buy-in/Participation by Heads of Departments (HoDs). For the success of the program, it is

imperative that heads of departments across the college fully understand and appreciate the

benefits of the program, and come forward to provide their all-round support to the students

undertaking the program. The College shall institute a system of engagement between i2E team

and the HoD’s to keep them informed of the program’s progress and get their buy-in and

ongoing support.

4. i2E Entrepreneurs Club. You agree to establish, fund and operate a student-run i2E

Entrepreneurs Club in accordance with the guidelines and direction provided by i2E. Besides

promoting a culture of entrepreneurship on campus, the i2E Entrepreneurs Club activities are

designed to spread the message to schools, junior colleges and rural communities in your

vicinity. The activities help your students develop an awareness of societal problems, and help

solve them collectively with innovative and entrepreneurial approaches. Women

entrepreneurship is one of the focus areas of the Entrepreneurs Club.

5. Enrollment and Tuition Commitments

a. Venture Development Diploma Program (VDDP, 12 months, part-time)

i. The first batch of the program is in progress. The next batch commences in or

around October, 2018. Eligibility: final, third or second year students of B.Tech.,

or final/pre-final year students of MBA/MCA/M.Tech., alumni, faculty and staff,

with a qualified business idea. Qualified business ideas will be generated

through a hackathon, dates to be announced. Tuition: Rs.10,000 per student.

ii. Your College is required to commit the following number of enrollments per

year, and pay a lump sum tuition fees to APSSDC as listed below, at the

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beginning of the program. You may charge each student a maximum of

Rs.10,000 for tuition. Your College keeps the difference when you enroll more

than 50% of the committed capacity.

iii. Commitment Needed from College, depending on the type of Venture Center

(VDC or VIC) that you are applying for:

Center Type VDDP Enrollment (minimum) Tuition Payable to APSSDC

VDC 100 students per year Rs.5,00,000

VIC 20 students per year Rs.1,00,000

The enrollment numbers and lump sum tuition amounts listed above are minimum

guaranteed by your College. If you exceed the minimum commitment numbers, APSSDC

will charge Rs. 5,000 to your College for each additional enrollment beyond the

minimum.

If you are a VIC, your students will be assigned to a nearby VDC. While they learn the

video modules online, they may be required to travel to their assigned VDC periodically

for in-person interactions with venture coaches and program coordinators. You agree to

accommodate such students’ travel schedules as needed.

If you are a VDC, you agree to accept such student enrollees from nearby VICs and

provide them the same access to facilities and all other resources, including Prototype

and Gap Funding, as offered to your own students.

b. Perspectives on Entrepreneurship (PoE, 1 month, part-time)

i. This is a short introductory program open to all students, faculty, staff, alumni

or anyone else interested in learning about entrepreneurship.

ii. Your College is required to commit a minimum enrollment of 500 students per

year. Student enroll online and pay tuition of Rs.200 per person, directly to

APSSDC.

6. Cost Sharing. Considering high-cost elements in the program, such as quality international

partnerships and intense hands-on coaching and guidance by experts, this is an expensive

program for APSSDC. While APSSDC still pays more than 90% of the total program expenditure,

we ask that the Colleges share some of the costs as outlined below:

a. An annual franchise fee of Rs.5 Lakh per VDC and Rs.1 Lakh per VIC; payable to APSSDC

upon confirmation of selection as VDC or VIC as the case may be

b. Additionally, as mentioned in section 5 above, you agree to pay VDDP tuition of Rs.5

Lakh for up to 100 students if you are a VDC; or Rs.1 Lakh up to 20 students if you are a

VIC. Any enrollments beyond the minimum are charged to the College at Rs.5,000 per

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student. The tuition payments shall be made by your College to APSSDC prior to

commencement of the program

c. Cost of books and study materials used in the VDDP program, payable directly to the

publisher

d. International travel costs for sponsoring your VDDP venture teams, if selected, and your

coordinator/coach, if applicable, for any travel to NU Boston. Such travel usually falls in

the month of November every year, coinciding with Global Entrepreneurship Week

e. Shared travel costs of visiting NU faculty. The costs will be distributed equally among all

beneficiary VDCs

7. Alumni and Local Business Engagement. You agree to identify prominent alumni of your college

and other successful local businesspersons and engage them to participate in the program by

becoming mentors, advisers, sponsors and potential investors.

Additional Requirements if you are applying for a VDC:

8. Full-Time VDC Coordinator. You agree to identify a VDC Coordinator, to be interviewed and

approved by i2E, to act as the college representative for day-to-day operations. He/She shall be

a full-time resource DEDICATED to the program, and shall NOT be assigned any other teaching

or non-teaching responsibilities. He/she reports to the i2E program coordinator, and takes

direction from him/her for conducting the VDC operations. The VDC Coordinator should have

prior exposure to entrepreneurship. If a suitable member of faculty acceptable to i2E cannot be

found internally, you agree to recruit a competent individual from the industry with the help of

the i2E program team. The success of your VDC hinges to a large degree on this one individual,

hence this selection and commitment must be taken very seriously.

9. Full-Time Venture Coach. Each VDC shall hire its own full-time Venture Coach to work alongside

the i2E designated coach, under the supervision of an i2E program coordinator. The

qualifications required and the process for hiring will be communicated separately. This Coach is

in addition to an i2E-appointed Venture Coach, and shall work under direct i2E supervision.

10. Curriculum Integration. You agree to integrate the i2E Venture Development Diploma Program

(VDDP) into your curriculum by offering suitable course credits (e.g. as an elective) for the

entrepreneurship work carried out by eligible students. You will provide the details of such

curriculum integration prior to commencing the program.

11. Dedicated Facilities for VDC. You agree to provide approx. 5,000 square-feet of modern state-

of-the-art space dedicated for the VDC, with the following minimum amenities. The interior

design and exterior signage shall be of contemporary international standards, in accordance

with the specifications provided by i2E.

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a. Lecture hall with videoconferencing facility and high-speed Internet connectivity, to

accommodate up to 100 students

b. Collaboration rooms: two, each with a 10-15 seat capacity, with high-speed Internet

connectivity

c. A lounge area with sofas, chairs and tables, complete with a coffee station and a large

screen TV beaming business news

d. A separate room for Entrepreneurs Club office

e. Private and semi-private offices for i2E program management team and cubicle space

for coaches and support staff

f. Conference room for Program staff (10-15 seat capacity)

All of the facilities shall be air-conditioned, powered by stable and uninterrupted power supply

with a back-up generator. All Internet connections shall be high-speed and high-bandwidth with

a backup and shall be uninterrupted.

The design and construction of the VDC shall be of high-quality, meeting/exceeding the level of

international standards, and conform to uniform color schemes across all VDCs to be provided

by i2E. The VDC shall carry a uniquely distinct identity within the campus/building and shall

prominently display the APSSDC, i2E and Entrepreneurs Club logos both outside and inside the

building.

12. Prototype and Gap Funding Pool. You agree to create and maintain a funding pool of at least Rs.

15 Lakh in a separate account, to be utilized solely for the purpose of supporting ventures

affiliated to your VDC in building their prototypes, conducting initial market surveys and to grow

the business after the initial proof of concept until external investments are raised by the

venture team. Qualification to receive these funds by venture teams is based on a rigorous

competitive process to be administered by the i2E Program Team and overseen by an

independent governing board to be formed by NU and APSSDC. The funding account shall be

topped up to always maintain a minimum balance of Rs. 15 Lakhs, verifiable through submission

of quarterly bank statements.

13. Other Resources. You agree to provide the following additional resources as needed:

a. Technical and admin support necessary for smooth operation of the VDC

b. Marketing/promotional campaigns as needed and logistical support for conducting i2E

events from time to time

c. Access to auditorium, seminar halls and conference facilities for events

d. Access to maker space, trade shops and labs as needed.

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