Profs who turn science entrepreneurs may be allowed to continue teaching
New Delhi: In a move aimed at promoting scientific research in the country, the government is mulling over allowing professors to continue their teaching profession while being the owner of a business venture dealing with scientific research work.
A leave of three years would be granted to professors by the competent authority to operationalise the approved project.
A decision is this regard may be taken soon by the Human Resource Development (HRD) Ministry as the University Grants Commission (UGC), in its report, has recommended implementation of Faculty Entrepreneurship Scheme in all the universities in the coming years.
The UGC has come out with such a recommendation after the success of its pilot project in Hyderabad University.
Notably, the UGC had constituted a working group to make higher education more practical and job-oriented, and the working group, in its report, has recommended the implementation of the scheme in all universities.
As per the report, faculty members who have served in the institute for more than five years would be entitled to apply to open a scientific enterprise.
The faculty members would be allowed to associate themselves with only those business consortiums that would be dealing in scientific research, invention, innovation and expertise into a practical technology or product that can be launched commercially.
The report further states that vice-chancellor of universities would be the competent authority to approve any such project, and the interested faculty members would have to apply before vice-chancellor to start the firm.
The business entity can be either a proprietorship or multi-partner firm, and it would be registered under the Companies Act, and profit-making companies may be merged with other firms, or it may be sold.
Hailing the initiative, Abhas Kumar, an assistant professor in Delhi University, told Millennium Post that it would not only help researchers t commercialise their inventions and innovations, but it would also boost the entrepreneurial skills of faculty members.
