Addressing the 14th convocation of Jammu University, he said entrepreneurial activities in universities could take various forms such as contract research, consultancy, patenting, licensing, spin outs, start-ups and incubating companies.

It is essential that universities create the right environment for promoting entrepreneurship amongst students as well as academicians, he told the students.

The convocation is being held after a gap of seven years. The last one was held on July 15, 2007, which was attended by the then Prime Minister Manmohan Singh.

Referring to inter-linked aspect innovation and entrepreneurship, Mukherjee said realizing the centrality of innovation in the growth and development process, 2010-20 has been declared as the 'Decade of Innovation'.

India's Science, Technology and Innovation (STI) policy 2013 emphasises boosting innovation through research and development (R&D), driven mainly by private sector participation, publishing more research papers, achieving gender parity in Science and Technology and seeking global cooperation.

"It is here that a University's third axis, the first two being teaching and research, becomes critical. While it is well recognized the world over, enterprise incubation as a part of the academia - industry linkage is still at a nascent stage in India," he said.

The function was attended by Jammu and Kashmir Governor N N Vohra, who is the Chancellor of the University, and Chief Minister Omar Abdullah who is also Pro-Chancellor of the varsity.

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