IIM Calcutta Launches IIM Calcutta Innovation Park (IIP) To Incubate Over 40 Startups

The startup incubation programmes are on a frenzy roll with new platforms being launched everyday. IIM Calcutta Innovation Park (IIP), a startup incubator, has been launched by the Indian Institute of Management (IIM) Calcutta. Healthcare, education, clean technology, lifestyle and analytics are the focal points of the program.

Within the next 5 years, the programme plans to incubate about 40 ventures. The Department of Science and Technology will be rendering INR 7 Cr. to IIP which plans to invest INR 5 – 50 lakhs for the seed funding of ventures. Also, IIP intends to raise nearly INR 20 Cr. from its alumni.

TutorVista founder Krishnan Ganesh, Rediff’s Ajit Balakrishnan and Rocket Internet-backed Jabong’s Praveen Sinha, are among the alumni of IIM-Calcutta

Energy solutions venture ONergy, Doctors For You and primary education-focused startup Edwell will be among the first batch of incubated startups, while two more ventures are expected to join over the next two months.

IIP intends to promote entrepreneurship in this region with the leadership of incubators and accelerators.

“The big issue has been the overall infrastructure. Unlike in the US, our really great academic institutions are standalone ones. There is no central ecosystem yet,” stated Ajit Rangnekar dean, Indian School of Business, which runs the DLabs business incubator.

Various Indian educational institutes including IIT Madras and IIT Bombay have established a strong reputation in incubating startups.