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INNOVATION FUND SCHEME FOR NIFTEM STUDENTS(M.Tech and B.Tech)
1. OBJECTIVE OF THE INNOVATION FUND SCHEME
The chief objective of the “Innovation Fund Scheme for NIFTEM students” is to provide all support and a platform for realization of their innovative research ideas, and finding solutions to the problems being faced at present by the Food Processing Sector in India. The funding scheme aims to encourage the B.Tech and M.Tech students of the NIFTEM to undertake innovative projects, which would ultimately result into proof-of-concepts, design of equipments, etc, thus having high societal and commercial impact and thereby helping in the growth of Indian food Industry.
2. FUNDING PATTERN
Project funding will be maximum upto Rs. 15.00 lakh. This fund limit may be extended in case of highly deserving projects with prior approval of the Hon'ble Vice-Chancellor, NIFTEM. The research project can be submitted by NIFTEM- B.Tech/M.Tech students individually (or) as group, preferably jointly M.Tech and B.Tech students. Project could also be taken up by the students in collaboration within Departments of NIFTEM (or) Departments of other Universities (or) Industries (or) NGO groups. Each project should be submitted through a NIFTEM faculty as internal guide.
3. DURATION OF THE PROJECT
Initial duration of project would be 2 years. Based upon the progress and importance of work, the scheme may be extended for another 1 year without any further financial implications.
4. SCOPE AND DISBURSEMENT OF FUNDS
Student innovation fund is intended to cover all costs involved in carrying out all experimental work and towards cost involved in any other activity as mentioned under the respective heads in the proposal. NIFTEM holds all the rights for either continuation (or) cancellation of funds at any stage (or) the complete activity related to the administration of the Fund.
5. SOME RELEVANT RESEARCH AREAS
The funding would be given for projects to solve any of the industry problems pertaining to food processing and its allied areas: e.g.
6. LEGAL FRAMEWORK
7. (A) INNOVATION FUND COMMITTEE:
The Innovation Fund Committee will evaluate and analyze the whole project scheme before sanctioning any project.
(B) PROJECTS REVIEW COMMITTEE (PRC):
The Dean (Research) as the chairperson along with In-charge, fund scheme and the project guide and the other members (upto 3 maximum) as the subject experts would review the submitted concept note /projects.
8. MONITORING AND EVALUATION OF FUNDED PROJECTS
The Vice-Chancellor, NIFTEM will nominate the evaluation committee for periodic assessment and regular monitoring of the sanctioned projects (may contain internal members only and/or external – upto 3maximum). The progress (projected/actual) and performance will be evaluated based on parameters chosen by PRC. Finally, the committee will submit report to the Vice-Chancellor for consideration and further directions.
Provisionally approved project proposals under the NIFTEM Student Innovation fund scheme:
1.Study of Utilization of waste Potato for the production of Bio-Fuel.
2.Resurrection of Jaggery: A Step towards Brown Revolution in India.
3.Innovating Entrepreneurship in Soy Beverage Product at Cost Effective Pricing.
4.Study of developing catalyst system using green chemistry for reduction of air pollutants emitted from crop residue burning.
For further details and submission of project contact: innovationfund.niftem[at]gmail[dot]com