Startups are often hailed as engines of economic growth, thanks to their potential to drive entrepreneurship, innovation, and job creation. In many ways, they are the lifeblood of modern economies. And nowhere is this truer than at EdVenture Park, a thriving ecosystem that nurtures and supports the growth of innovative startups. With a wide range of resources and services at their disposal, student entrepreneurs at EdVenture Park are able to transform their ideas into reality, and in the process, contribute to the growth and prosperity of their communities.
EdVenture Park, a Hyderabad-based startup incubator, is the first of its kind in India, focused on nurturing student-led startups emerging from colleges, both engineering and non-engineering. The incubator provides an intensive four-month pre-incubation program specially curated for students according to their academic schedules. EdVenture Park aims to build a “job creator” economy mindset rather than a “placement” mindset by empowering students to experiment with their ideas and take their ideas to the next level by providing guidance, support, and exclusive sessions/workshops.
Started in April 2019 and hosted by MS Education Academy, a 30-year-old chain of education institutions, the startup incubator was initiated to create a community of young, enterprising people who would solve society’s problems, give their ideas a shape and add value. The CEO of EdVenture Park, Meraj Faheem, believes that empowering and supporting young people in India to become strong, independent and “world-worthy individuals” is critical.
The Pre-Incubation Program, which is India’s first pre-incubation program, is a four-month-long program that focuses on making the idea a realistic solution.
“The pre-incubatees must figure out their vision and mission statement, validate their ideas, build prototypes, get their hands dirty in different aspects/fields, and get their MVP (Minimum Viable Product) ready,” said Syed Fawaz Ali, Program Manager at EdVenture Park. “After the pre-incubation program, selected companies move to the Incubation Program, where they work to figure out the product-market fit of their solution and attract investors to scale up their business.”
EdVenture Park provides personalised and on-demand guidance, support, workshops, global connections, market access, and real-time investor pitches.
But how does the EdVenture Park identify potential student entrepreneurs? According to Fawaz, the incubator has a network of campus leads who keep an eye out for talented entrepreneurs with innovative ideas. These campus leads are students themselves, and they actively search for students who show potential and have the drive to pursue entrepreneurship. “Our team also conducts awareness sessions and workshops in universities to attract potential entrepreneurs and guide them through the pre-incubation process,” he added.
EdVenture Park has now also started the Incubation Manager Fellowship, a 4-month-long intensive and immersive fellowship designed to nurture talent focused on the incubation and acceleration space. The fellowship is designed to turn participants into high-quality incubation managers who will lead and drive the innovation and startup ecosystem and connect them with the right opportunities to start their own incubation centers.
The incubator has partnered with 25 colleges and has leads with 80 colleges in Hyderabad, not just engineering but also commerce, arts, and science colleges. About 180 student startups have been part of the incubator over eight cohorts with an average of 25 companies in each cohort. The program has been successful in empowering student entrepreneurs to turn their ideas into full-fledged companies, providing them with funding, mentorship, legal guidance, and connections with right partners to help them deliver their full potential.
Some of the startups incubated at EdVenture Park are:
- Torq Electric: converts vehicles to electric power, either fully or as a hybrid option.
- GoodMind.co: a mental wellness platform that makes mental wellness more accessible and affordable while maintaining anonymity.
- Diabeat: provides diabetic patients with a painless and affordable device for monitoring their glucose levels.
- iWater Private Limited: produces 100% biodegradable water bottles and aims to standardize the local water vendor network in India.
- BioReform Private Limited: manufactures eco-friendly compostable bags made from natural renewable sources to address the global problem of plastic pollution.
- Infinite Loop: a creative agency that provides copywriting, campaigns, and ideas to help brands connect with their audience.
- Transformify: India’s first interpersonal skills bootcamp, providing practical skills to empower students in their lives and future careers.
- Delizia: designs creative and unconventional gifts that are customized to meet specific needs, with a focus on building meaningful connections between people.
- Dovely.org: India’s first ride booking service for women, driven by women, with a focus on increasing women’s employment rate.
- Neve: a smart wearable heating pad designed to reduce menstrual cramps using a natural heat therapy method.
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Shaik Zakeer Hussain is the Founder and Editor of The Cognate.
