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One Stroke, Many Colors – University Venture at IIT Madras Programs, Stakeholders, and their Relationships

画一笔,添多彩——印度理工学院马德拉斯分校的高校创业

项目、股东及二者之间的关系

How wealth creation can be reconciled with universities’ traditional roles so everyone wins

Why does the India Institute of Technology in Madras succeed at UniVenture? Because it takes an inclusive, holistic approach.

The authors tell us that this success required interaction with a wide range of stakeholders, each with their set of expectations:

  • Current students –want more practical venture education
  • Faculty and staff – want the capacity to engage in venture
  • Corporations – want more collaboration
  • Alumni – want to contribute expertise and capital
  • The government – provides tax incentives and expects outcomes that support national needs
  • Last but not least, society at large –increasingly demands access to IITM’s expertise

Recognizing the importance of engaging with all these stakeholders, the institutional infrastructure that supports venture creation and nurturing should have multiple strands that cater to the needs of these different segments.

The authors illustrate this point with detailed cases of value creation and nurturing, and lessons learned. They identify the different components of the venture creation and nurturing process, and illustrate how they contribute to deepen the engagement with different stakeholders. Various  initiatives at IIT Madras are described, highlighting the results of the venture creation initiatives across different stakeholders.

The authors, Prof. Thillai Rajan A. and Prof. Ashok Jhunjhunwala of IIT Madras, present findings that will benefit readers in other universities venturing into university venture.

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About the Authors:

Thillai Rajan A. – Professor, Department of Management Studies at the Indian Institute of Technology Madras
Ashok Jhunjhunwala – Professor, Department of Electrical Engineering at the Indian Institute of Technology Madras

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