Incubation and WEIC

Incubation and WEIC - (WALHAND ENGINEERING AND INNOVATION COUNCIL)

(A section 8 company as per statutory requirements)

The institute is dedicated to creating a supportive ecosystem for engineering & technology startups, offering mentorship from industry leaders. Recognizing this initiative as a new form of experiential learning, the institute is already nurturing ideas for product development and business incubation among its students.

WEIC , as an Incubator is part of the institution that assists entrepreneurs / founders of start- ups in developing their business and solving problems associated with it, especially in the initial stages, by providing an array of business and technical services, initial seed funds, lab facilities, advisory, network and linkages.

Objects

To promote experiential education –

Organizing experiential learning activities such as seminars, workshops, and training programs for entrepreneurship
Promoting innovation in engineering and technology through interdisciplinary projects.
Supporting students and faculty in entrepreneurial and professional development.Create the Awareness, Foster Innovation & Entrepreneurship for Walchand College of Engineering ,Sangli students, alumni, faculty, society at large and others in the nearby local area of Sangli
Create new learning environment as an Incubation center via start up ecosystem for concept to product, product to business and further acceleration in business.
Provide the platform for promotion of ideas / projects to product development / commercialization and incubate, nurture ideas and train the incubatees for technological, business advancement , acceleration

To support Innovation , Technological development, Research and Business Ideas

Support Startups and MSMEs
Provide Infrastructure and Resources for Entrepreneurs from Walchand College of Engineering, Sangli
Facilitate Skill Development and Training in the identified thrust areas.
Promote Research and Development & Ensure Intellectual Property Protection
Enhance Industry-Academia Collaboration

To collaborate and network

Facilitate Access to Funding under various Govt. schemes, from venture capitalist / investors, industries.
To facilitate mentorship, expert services, academic and business knowledge services to new business learners in incubation

Functions of WEIC as an Incubator

The primary function of business incubators is to enhance the chances of success for innovative startups and facilitate the entrepreneurial process. Initially, incubators were centred around the IT industry; however, they now collaborate with businesses from various industries and orientations.
Providing space for initial days of start-ups

Providing an array of business and technical services like company formation, taxation advisory, compliances etc

Assist in Valuation and helping them for EBITA positive balance sheets.

Technological assistance via lab facilities, expert technical help from college
Product Development cycle for assisting founders.

Initial seed funds if any

network and linkages in Businesses

Currently, the WEIC occupies approximately 3000 sq. ft. and includes the following infrastructure:

Makers Lab equipped with:
Rapid Prototyping Tools (3D Printer, PCB Printer, CO2 Cutting/Engraving Machine)
Hand tools and power tools
Electronics Instruments
Raw materials and components
Co-working Spaces:
Open area for 12 incubates (with 3 members in each team)
Closed cabins for 4 incubates (with 3 members in each team)
Computing Space with 32 machines
High-speed Wi-Fi connectivity
24/7 open access

Contact – General Manager , WEIC

Incubation and WEIC