Lovely Professional University has initiated a program aimed at identifying and nurturing students skills. Under this innovative initiative, students are encouraged to think, generate, and discuss groundbreaking ideas relevant to their chosen disciplines and beyond. These ideas have the potential to be transformed into viable sources of revenue by the students themselves. The overarching objective is to motivate and equip students to ignite their entrepreneurial competencies, embark on a lifelong entrepreneurial journey, and shape their career paths. This initiative is aptly named the "Student Centric Revenue Generation Model" (SCRGM).

The SCRGM initiative is designed to empower students who are eager to explore knowledge beyond the confines of traditional classrooms. It enables them to bring forward their own ideas, which may hold revenue-generating potential. These ideas are registered within the University Management System, providing students with the infrastructure and support they need to bring their visions to life. In essence, this educational endeavor seamlessly fuses academic learning within a specific field with practical application in a professional setting. In doing so, it serves several critical purposes:

1. Fostering Entrepreneurial Competencies: SCRGM is instrumental in nurturing the entrepreneurial competencies of students. It encourages them to think beyond the traditional career trajectory and consider entrepreneurial avenues that align with their interests and expertise.

2. Establishing Lifelong Ventures: The initiative paves the way for students to envision and establish ventures that can potentially extend throughout their lives. It promotes a mindset of sustainability and resilience in their entrepreneurial pursuits.

3. Application of Theoretical Knowledge: One of the central benefits of SCRGM is the opportunity for students to apply their theoretical knowledge in real-world professional settings. This bridge between academia and practice enhances their understanding and skill set.

4. Integrated Learning: The model augments the idea of integrated learning by providing students with the means to realize their entrepreneurial aspirations while still in the educational environment. It serves as a fertile ground for honing their entrepreneurial skills and testing the feasibility of their ideas.

5. Financial Independence: Perhaps most significantly, SCRGM enables students to generate revenue for their own expenses, which can even include program fees. This financial autonomy allows students to alleviate the burden of educational costs and empowers them to invest in their own learning and development.

Faculty mentors play an active role in guiding and supporting students as they generate and develop their entrepreneurial ideas. This collaborative effort ensures that students receive the necessary guidance and expertise to turn their ideas into reality. At the same time, students are encouraged to take initiative and independently explore and refine their ideas. The success of the revenue generation model hinges on the active participation and commitment of students, and the faculty provides the necessary support and mentorship.

SCRGM aligns with the concept of work-integrated learning, offering students the opportunity to realize their entrepreneurial dreams while pursuing their academic studies. The initiative strives to achieve several key objectives:

Developing Revenue-Generating Ventures: SCRGM seeks to create authentic business settings capable of generating revenue. This approach not only enriches students' learning experiences but also prepares them for the practical challenges of the business world.

Elevating the University's Profile: SCRGM contributes to enhancing the reputation of the university as a hub for innovative student-driven initiatives. It positions the university as an umbrella brand under which all efforts related to the Student Centric Revenue Generation Model are showcased at the national and international levels.

Facilitating Career Development: The initiative serves as a springboard for students to explore and manage their future career aspirations and decisions. It equips them with practical skills, experience, and entrepreneurial insights that can be invaluable as they enter the professional world.

Building a Robust Network: SCRGM enables students to cultivate a flourishing network of contacts, both within and outside the university. This network can prove to be a valuable asset as students navigate their career paths.

Enhancing Global Awareness: Through their involvement in SCRGM projects, students gain a heightened awareness of global challenges and industry issues. This global perspective is crucial for students preparing to make a positive impact on the world.

Problem Solving and Impact: SCRGM provides students with a platform to address real-life problems and offer solutions. It encourages them to think critically, innovate, and contribute to society through their entrepreneurial ventures.

The SCRGM initiative has ushered in a new era of student empowerment and self-reliance. Students not only gain the skills and knowledge required for their chosen disciplines but also develop a resourcefulness that makes them more self-sufficient. They have the opportunity to earn while studying, which not only eases the financial burden but also enables them to develop transferable skills such as effective verbal communication, leadership, collaboration, teamwork, and time management.

Moreover, SCRGM facilitates the creation of a robust resume and social network, offering students a competitive edge in the job market. It encourages students from diverse disciplines to collaborate on interdisciplinary ideas, fostering an environment of cross-disciplinary innovation. For instance, students from agricultural sciences may collaborate with peers from computer science engineering and pharmacy.

The impact of SCRGM is evident in the numbers: currently, approximately 150 SCRGM projects are actively driven by students from various disciplines. The model benefits around 350 students who are actively participating in revenue-generating ventures. Notably, these initiatives have collectively generated revenue close to 50 lakhs, underscoring the tangible success and potential of the Student Centric Revenue Generation Model.

Lovely Professional University's SCRGM initiative represents a groundbreaking approach to higher education. It empowers students to not only excel academically but also to become innovative entrepreneurs. Through a combination of academic learning and practical application, SCRGM equips students with the skills and resources to realize their entrepreneurial dreams, become self-reliant, and thrive in a competitive job market. The initiative fosters a culture of innovation, problem-solving, and interdisciplinary collaboration, making it a vital component of modern education.