Q. How difficult is it to choose which project to incubate?
To select a particular project to incubate is always a challenge, however, as Sharda University comprises of 13 schools and their expertise serve as mentors.The availability of product support internally for diverse areas also helps in the process.While we are selecting an incubate through an expert panel we mainly look for sustainability and scalability in the project. Our association with a range of companies also supports the incubates for a wide range of subjects and provides them a long term support. scalable and sustainable scalable and sustainable
Q. What kind of projects are you incubating?
We are always on the lookout for a sustainable and scalable ideas which serves the people. As of now, we have projects on Robotics, AI, and Delivery of products / food which are technology driven and we will be considering from more and more diverse areas in the near future. One of the students perusing B Tech is working on an AI prosthetics project, this is a revolutionary project that changes the world we have and the way we use. Another student started with an idea of supplying hostel amenities to the students of Sharda University.
Q. With what kind of ROI expectation is a project undertaken?
We don’t expect any kind of ROI via any project undertaken, because of the overall management’s philosophy to build a robust entrepreneurial ecosystem. Sharda Launch Federation, the organization for Sharda LaunchPad is a Section 8 company, viz, a not for profit organization. In view of this the focus has always been to enable incubates and make them commercially viable. But before that our sole focus is to promote entrepreneurial spirit among our students , alumni as well as outside the Sharda family.
Q. Why do you think many start-ups die within few years of its beginning?
Startups die due to a variety of causes. It could be either running out of money or a critical founder bailing.An incredibly common problem that causes startups to fail is a weak management team. Other reasons cited for failure include lack of skilled workforce and funding, inadequate formal mentoring and poor business ethics. We have also noticed that companies with founded by one person—that is, no partners—are most likely to fail& if the project lacks innovation it is also not very likely to succeed.