Venture Lab

About Venture Lab Thapar

Thapar institute of Engineering & Technology(Deemed to be University), Patiala as a Premier technical educational institute of India curates a repository of knowledge for all stakeholders working in the domain of technology innovation. Being an institute of repute it has always tried to contribute in national priority area of entrepreneurship development and improve economic development activities and investment on which it is located. To assist in this endeavour, Thapar institute of Engineering & Technology (TIET) established Venture Lab-Thapar for the budding entrepreneurs, start-ups, students and freelancers. The whole idea behind this initiative is to bring together the creative people and let the various innovative ideas work in tandem with high order of synergy. It works in tandem with Entrepreneurship Development Cell of TIET to further elevate the level of their innovation and entrepreneurial acumen.

Venture Lab -Thapar facilitates and catalyzes innovation, entrepreneurial development, and business success that foster sustainable economic growth of the area in which it is located. It is also in various ways nurturing innovation through a collaborative community of entrepreneurs which is one of the national priority area and one of the core mandates ofTIET .

Activities of Venture Lab-Thapar:

  • Accelerating the growth of the student startups coming through ED Cell, TIET.
  • Helping to expands professional network of entrepreneurs.
  • Making entrepreneurs more technologically focused.
  • Helping startups to be market ready and find new clients
  • Eliminating isolation and increasing entrepreneurs’ self-confidence
  • Providing cost efficient alternatives for budding entrepreneurs
  • Taking care of Entrepreneurs’ utility bills through shared infrastructure
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  • Organizing event for evangelizing & capacity building of starups and providing them with networking opportunities in association with ED Cell.

Venture Lab - Thapar is a viable platform for the budding entrepreneurs in getting their respective project to be done in a professional setting.

Venture Lab’s Principles:

Thapar Venture Lab – Thapar is established on the following principles:

1. Flexibility: It is provided in three different areas:

  • A. Flexible Plan Options: There are typically no year-long lease requirements. Hot seat, private desk, and private office memberships are offered on a month-to-month basis.
  • B. Flexible Cost Options: With no upfront fees, no deposits, and a variety of option plans, Venture Lab provides entrepreneurs with a valuable opportunity for keeping costs down.
  • C. Flexible Space Options: Start-up can increase team count by overnight subject to availability.

2. Community: Building a start-up can get kind of lonely sometimes. No matter the phase of growth, there are always new things to learn, do, and evaluate. Surrounding with other entrepreneurs can help an entrepreneur to take the edge off when things get rough.

3. Greater Access to Key Players: Venture Labfocuses on the enhanced access to key players who can help Start-up business to grow. It has a strong contact to angel investors and Venture Capitalists looking for new opportunities. It will more likely to hit up networking events with government concerned, corporate/PSUs, academia, field experts/consultants, innovators, research organizations and angel investors.

4. Amenities + Services: When a start-ups lease a private space, they don"t always have the luxury of just showing up and getting to work. In most cases, furniture needs to be bought, the internet and phone connections need to be secured, help for secretarial work and parking needs to be arranged for employees. Venture Lab with huge campus with all facilities like well furnished office space, internet, refreshment/canteen, play ground, car parking space to address the challenges of amenities and services.

Effective Outcomes:

  • Networking opportunities with start-up entrepreneurs, investors, mentors etc.
  • Community Engagement
  • Building core competency & service framework of start ups
  • Incubate & commercialize new technologies/business areas within the startup company
  • Providesfacilities and services (eg. business planning and legal, accounting and marketing support)

Events:

Past events-

  • Start up Weekend , Pitchers, Startup Expo, Expert Talks etc.

Forth Coming Events-

  • Venture Lab weekend 22nd,23rd & 24th February 2019

Partnership:

  • To strategically enhance the ability through the collaboration and to generate and capture attractive ideas for bringing new innovation in business and entrepreneurship development TIET has signed tie up with TICON Chandigarh, STPI Mohali, 91SpringBoard Gurgaon anf The Grooves Mohali. The main motive behind this association is to amplify connections with every stake holders for entrepreneurship ecosystem development inside and outside Thapar Institute of Technology.

Team Venture Lab Thapar ,TIET

Dr. Padmakumar Nair
Director L M Thapar School of Management
Email: padmakumar.nair@thapar.edu

Dr. KarminderJit Singh
Chief Coordinator,
Science & Technology Entrepreneur’s Park & Venture Lab
Email: karminder@thapar.edu

Dr. Mandeep Singh
Co-Coordinator,
Science & Technology Entrepreneur’s Park& Venture Lab
Email: mdsingh@thapar.edu

Dr. Karun Verma
In charge Simulation and Design Lab
Email: karun.verma@thapar.edu

Dr. Vineet Srivastava
In charge Fabrication Lab
Email: vineet.srivastava@thapar.edu

Mr. Koustav Das
Manager Venture-Lab Thapar, TIET
Email: koustav.das@thapar.edu