UPES Centre for Innovation and Entrepreneurship (UCIE) was created with intent to develop entrepreneurial mindset among members of faculty and students at University of Petroleum and Energy Studies (UPES). With its Genesis in the year 2013 the thought has always been on how to become a generator of employment. The UCIE team is driven by a pursuit for creating organizations run by students; initially on campus and then graduating in to the real world to its own twists and turns.
The UCIE’s focus is on three pillars; namely “Attractiveness of the Incubator”, “Value for Ecosystem” and “Value for clients”. Over a period of time the UCIE has been awarded star ratings by University Business Incubator Sweden for creating Entrepreneurial Ecosystem within UPES and the larger ecosystem of state of Uttarakhand.
A number of meetings, seminars, conferences, business plan competitions and multiple other events have helped to develop this ecosystem ensures that UCIE enjoys a position of leadership in the state of Uttarakhand. The experiences of UCIE when dealing with young people are being emulated at some institutions in the state. UCIE has also been instrumental in supporting the formation of Startup Policy of state of Uttarakhand
UCIE believes that it is a nursery of entrepreneurship in the region. In order to institutionalize the concept of entrepreneurship, apart from regular activities related to evangelism a 2 credit Venture Ideation program across the University for all undergraduate students has been institutionalized. As a pilot project in academic year 2016-17; 532 students were taught Venture Ideation though online platform. In academic session 2017-18 a total of 751 students were taught Venture Ideation in the second phase of Pilot Project. In the 2018-19 academic year; UCIE would be educating 2936 young students the basic concepts of Entrepreneurship through online courses. Through this building block a number of students have started showing interest in starting their own ventures. The deferred placements policy also supports the UCIE’s efforts to create entrepreneurial mindset in UPES. The students who are a part of Incubation process of UCIE will be allowed to defer their placements for two years to allow them to pursue their entrepreneurial venture.
Business ideas of students are generated through annual Business Plan Competitions, startup weekend programs and a number of other initiatives with organizations like The Indus Entrepreneurs (TiE), CII, PHDCCI. Mentorship is done using the help of a number of local entrepreneurs. An Entrepreneurship funnel has been created and some of the incubatee organizations have started earning the revenues after incorporation of the legal entity.