The department of Commerce of Government College of Arts, Sci & Com – Khandola – Marcela – Goa organised a field visit to CIBA ( Centre for Incubation & Business Acceleration – Verna Goa. The aim of CIBA is to provide guidance to young and budding Entrepreneurs about the entire process of starting and running an own innovative enterprise.

The team of experts oriented our student’s on key aspects of business start up. Mr. Venu Gopal – Start up Manager, revealed that any graduate, vocational course, skilled or willing entrepreneur is invited to share his/her idea with the mentors at centre. The idea is then expedited on technical parameters to test the feasibility of establishing a new venture, or manufacturing a innovative product or providing a creative service. The potential idea is then explored with step by step procedures involved & series of documents to be obtained from various government authorities. CIBA provides all possible assistance to avail financial schemes, subsidies, incentives offered by State Govt. under EDC, GIDC, CMRY & by Central Govt. under PMRY, Make in India, Start Up, Skill India, through negotiations and tie-up engagements. The connect with investors and agencies helps to raise venture capital, seed capital and foreign Investment. The centre also provides free access to production Lab to manufacture own product which is then tested at inbuilt Quality lab for approval. It is then sampled to a focus group (customers in open market) for suggestions. Final product is then improvised & supplied in open market.

The Centre assists in creative launching and promotion of new product/service. The mentors monitor the progress of incubatee for 6 months and then set him/her free to operate his business at own skills. However keeps the desk open for advise to deal with economic risks, top up funding, product failures. The Centre also avails model administrative office “Co- Working” during initial stage for office records and settlement of transactions. The legal experts counsel on provisions of Acts, Agreements for legal conduct of business.Till date CIBA has incubated 63 start ups, raised funds Rs.10 Crores , employment generated 500 and won 6 Awards.

The trip was co-ordinated by Assistant Prof. In Commerce Mr. Devanand Velingkar, assisted by Ms. Bhakti Kudnekar, Ms. Grishmi Thakur. Our Special Thanks to Mr. Tushar Sawant – Manager CIBA, Mr. Venu Gopal – Mentor, Our Principal, HOD, and (Mgt) students.