Day 3 of AICTE-Sponsored Faculty Development Program Focuses on Lean Startups, Business Models, Incubation Practices, and Institutional Support Systems

Chandigarh, April 23, 2025: The third day of the ongoing Faculty Development Program (FDP) on Innovation and Entrepreneurship, organised by the All India Council for Technical Education (AICTE) at Panjab University, Chandigarh, featured a compelling mix of expert-led sessions, real-world exposure, and hands-on exercises, all centered around startup planning, lean methodologies, and incubator practices.
 
The day opened with an insightful session by Dr. Radhika Trikha, CEO of iHub AWaDH, IIT Ropar, who spoke on Understanding Lean Startups. Dr. Trikha elaborated on the core differences between lean startups and traditional entrepreneurial models, explaining how a lean startup strategy can offer significant advantages in dynamic and resource-constrained environments. Key concepts such as Build-Measure-Learn, Minimum Viable Product (MVP), and the Lean Canvas were covered in depth, with each point reinforced through illuminating case studies of globally renowned companies like Uber and Airbnb.
 
The second session marked the return of Dr. Ruchi Gautam Pant, Entrepreneurship Consultant and Mentor, who provided an in-depth exploration of the Business Model Canvas. With a methodical and precise approach, Dr. Ruchi broke down each component of the canvas — from value propositions and customer segments to key partners and revenue streams — and illustrated how this tool can help align all entrepreneurial efforts toward achieving defined goals. Her session was once again marked by high interactivity and practical application.
 
Following this, participants were taken on a guided tour of the BIRAC BioNEST Incubator on campus, hosted by Dr. Rohit Sharma, Head of the Department of Microbial Biotechnology and BioNEST at Panjab University. During the hour-and-a-half-long visit, participants were introduced to the state-of-the-art facilities available at the incubator and engaged in brief but enriching interactions with currently incubated startups. Dr. Sharma highlighted the unique capabilities of BioNEST and its role in nurturing bioscience and biotech-based startups in the region.
 
Upon returning, the participants took part in a collaborative group exercise to create Business Model Canvases of their own. Led by Dr. Ruchi, the activity allowed teams to apply the concepts learned throughout the day and simulate the business planning process in a guided and mentored setting.
 
The final session of the day was conducted by Dr. Atharwa Pountrik from IIT Ropar, who presented an overview of the various initiatives taken by IIT Ropar to support faculty-led entrepreneurial ventures. Dr. Pountrik elaborated on the best practices in startup incubation and institutional support, citing examples of policy frameworks, mentorship models, and funding mechanisms that have enabled faculty and researchers at IIT Ropar to take their innovations to the market.
 
With deep dives into lean methodology, business model development, and practical startup support systems, Day 3 of the FDP further strengthened the faculty participants’ capability to guide and mentor budding entrepreneurs within their institutions. The FDP continues with more sessions and activities planned for the upcoming days.