Date:31/10/2006 URL: http://www.thehindu.com/2006/10/31/stories/2006103117500300.htm

Andhra Pradesh - Hyderabad

University to support `entrepreneurs'

Special Correspondent

Plans to tap business expertise of students, employees

Viable business ideas will get funds

Staff can keep their jobs and work on these project too

HYDERABAD: The University of Hyderabad is setting up a first-of-its-kind Society for Innovation and Entrepreneurship Development in the country to tap business acumen of its students and staff.

The initiative, backed by funds to the tune of Rs. 2 crores given by the Union Department of Science and Technology, was cleared at the university executive council meeting held here on Monday.

"Employees can come with ideas that can create revenues for the university and viable proposals will get support. They can keep their jobs as well as pursue their entrepreneurship dreams," University Vice-Chancellor Seyed Hasnain said.

Institute of maths

Close on the heels of the Care Foundation tie-up, the university has decided to earmark five acres of land for setting up an advanced institute of mathematics, statistics and computer sciences with renowned mathematician from the State C.R. Rao at the helm.