As part of the EDI, ISB students who wish to take up entrepreneurship and set up their own ventures go through a four-month assessment programme to check the viability of the venture. Students of the selected venture get free stay at the ISB campus and a stipend of R25,000 for a period of one year, besides the incentive of deferred placements. In return, the successful ventures have to donate 3% of their equity to the campus.
ISB's current incubation initiative is focused on its EDI which is under its Wadhwani Centre for Entrepreneurship Development (WCED). Under this initiative, almost 17 ventures by ISB graduates have been incubated since May 2009 and five have graduated.
More than 40 companies have supported EDI in the last three years and now we are talking to the Confederation of Indian Industry and individual institutes which run business plan competitions to get non-ISB students participate in the EDI. Initially, we want only 5-6 students per year in the programme, said Krishna Tanaku, executive director, WCED at ISB.
The institute plans to roll out the programme to non-ISB students in 2012. However, the non-ISB students will not get accommodation on campus but only access to infrastructural and intellectual property related facilities.
ISB is also in talks with Nasscomthe apex body of the IT industryto identify a few ventures that have been filtered to some extent, besides winners of business plan competitions in the country.