Dear Students,
LAST WEEK WE ASKED: Do you think spending two per cent of average net profit on technology incubators is a good idea to help them?
BEST RESPONSE
Technology is a field that is evolving. However, most technology start-ups, as well as some successful companies, have limited financial backing and this is an impediment to their growth. So, allocating two per cent of average net profit for technology incubators is a welcome move.
Shivam Chhabra, Integral University, Lucknow
OTHER RESPONSES
Mandatory spending of two per cent of net profits for CSR is a good move by the government but including technology incubators as CSR will only divert the funds under CSR which are meant for spending on the weak and deprived classes of the society. The incubators have the backing of the institute, angel investors, and investment funds which are sufficient to provide a good start to early tech entrepreneurs.
Swar Grover, GNDU, Amritsar
Two per cent of average net profit must be spent on technology incubators because it will help in development of technology. Money must be spent on training and development for our country's better future. We need to constantly update ourselves and move along with western countries.
Rituparna Saha Ray, Fr C Rodrigues Institute of Management Studies, Navi Mumbai
India has a large number of technocrats. Despite this, we are lagging behind other countries in the field of technology due to exploitation of talent. It needs vast support, either in terms of money or infrastructure, which is lacking. According to new rules, it is mandatory for companies to spend two per cent of their profit on CSR, so, what best way to invest than in technology incubators? Eventually, companies would be most benefited as their problems can get solved through solutions provided by these technology experts.
Sumit Sourav, Regional College of Management , Bhubaneswar
For any system to go on efficiently and to progress requires money. Incubators facilitate academic, government and business collaborations that produce cutting-edge, next generation systems. And in the process this helps in getting a leg-up in a hyper-competitive, knowledge-based marketplace. Growth of technology incubators will produce mature successful business which will in turn create jobs and offer products and services that will enhance the local economy. As the economy develops, funding companies too will get an impetus.
Priya Rajesh Dhruv, Institute of Chartered Accountants of India
Investing in technology incubators is a good idea, as it would not only help boost the morale of the students, but also help build good corporate relations with the collages. This would certainly add to the technology pool of talents our country wishes to harbour.
Vaibhav V Mirge, Alkesh Dinesh Mody Institute of Financial and Management Studies, Mumbai
Your responses should reach us at edu@business-standard.com by Monday evening every week. Please ensure your responses do not exceed 100 words. Avoid attachments and email your full name, institute's name, batch and complete mailing address. The student who gives the 'Best Response' will be awarded Rs 500.
THIS WEEK'S QUESTION: Do you think engineering institutes and the ministry of human resource development (MHRD) should revert to older version of IIT-JEE?
