Panjab University to come up with innovation hub

Selected startups will be awarded a maximum of ₹5 lakh as soft loan

Panjab University is coming up with an entrepreneurship, employability and innovation hub at its Sector-25 campus.

Dr Rohit Sharma, head of Panjab University Incubation Centre, said that eight to ten startups falling in the major working domains will be evaluated and selected on the basis of their innovativeness to cater to a problem, their potential impact and return on investment.

Selected startups will be awarded a maximum of ₹5 lakh as soft loan. “We wish to provide more confidence to the innovators so that they can proudly shape the future of a smarter nation,” he said.

Being set up under Rashtriya Uchchattar Shiksha Abhiyan (RUSA) 2.0, the hub will help nurture startups based on engineering technologies and interplaying areas in pharmaceutical, biological, physical and chemical sciences as well as from social sciences, IT and management sectors, stated a release.

Panjab University vice-chancellor Raj Kumar said: “In today’s era of innovation and technology, quick-fix but durable solutions are the need of the hour.”