Delhi University Udhmodya Foundation: Delhi University has planned to open a new company to promote startups. Its name is Udhmodya Foundation. Not only this, the Delhi University Executive Council has also approved to give an amount of one crore rupees to the company every year. These funds will be given from DU’s Development Fund. Not only this, according to the plan, it will be increased by five percent every year. 60 percent of the funds given to the company will be spent on the incubation center and the remaining 40 percent will be spent on administrative work and salary etc.
Last year, the consent to form the company was made –
The proposal to form this company came last year in the meeting of the governing body of the Institute of Eminence. At the same time this plan was also agreed upon. However, some members, including Executive Council member Dr. Seema Das, had raised objections to the proposal to start the company from the Development Fund.
What do the officials have to say?
DU Registrar Vikas Gupta said about this that ‘The Executive Council recommended the Board of Directors of Udyamodaya Foundation with an annual increase of five per cent every year to sustain the activities of Udyamodaya Foundation (meeting on July 5, 2022 Rs 1 crore). With regard to the approval of the
Another company will open –
DU Vice-Chancellor Yogesh Singh had earlier announced the formation of two companies in the university. The Vice Chancellor said that he, apart from the Udyogodaya Foundation, is also forming a section 8 company to raise funds for the university.
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