In 2014, a vision was set into motion to transform India’s entrepreneurial landscape, and today, as IIM Calcutta Innovation Park (IIMCIP) celebrates its 10-year milestone, the impact of that vision is undeniably clear. As a DST-recognised Technology Business Incubator under the aegis of the Indian Institute of Management Calcutta, IIMCIP has been at the forefront of nurturing innovation, empowering entrepreneurs and driving social change in the country.
Nurturing Innovations & Startups
From its inception, IIMCIP has been dedicated to fostering startups that not only bring innovative ideas to life but also create tangible societal impact. Over the past decade, the incubator has supported over 1000 startups across 23 states, providing critical business guidance, funding and access to networks that have enabled these startups to thrive in a competitive landscape. 108 startups have received seed funding totalling Rs. 27 Crores. The external funding tally stands at over Rs. 1900 Crores and a combined portfolio valuation exceeding Rs. 7300 Crores.
Empowering the Entrepreneurial Ecosystem
IIMCIP’s influence extends far beyond individual startups, emerging as a trusted partner in fostering a culture of entrepreneurship in the country. By partnering with state governments as a Knowledge Partner for their startup initiatives, IIMCIP has been instrumental in creating environments where entrepreneurship can flourish.
Initiatives like the Egiye Bangla startup contest with Zee Bangla and the Smart Fifty reality show with NDTV 24×7 played a big role in popularising entrepreneurship, inspiring countless individuals to pursue their business ideas. Additionally, IIMCIP’s collaboration with the North Eastern Council to launch the North East Entrepreneurship Development Programme has supported 270 startups from the eight states of Northeast India, further expanding its footprint and impact.
Championing Women Entrepreneurship
A cornerstone of IIMCIP’s mission has been its unwavering support for women entrepreneurs, particularly in rural areas. The NRETP Incubator Program, in collaboration with the National Rural Livelihoods Mission, is a testament to this commitment. This initiative has incubated 450 women-owned enterprises across Assam, Bihar and West Bengal, creating new opportunities and driving economic empowerment in rural communities.
IIMCIP’s partnership with the Pernod Ricard India Foundation further corroborates its dedication to women entrepreneurship, providing funding and business guidance to 17 women-owned startups.
Forging Strong Partnerships for the Future
IIMCIP’s journey has been marked by strategic collaborations with both international agencies and corporates, each adding a new dimension to its impact. Whether it’s the partnership with Tata Sons for the Tata Social Enterprise Challenge, the alliance with Balmer Lawrie to accelerate startup growth, the collaboration with JICA to support revenue-stage startups from Northeast India, the involvement with Villgro to boost the growth of for-profit social enterprises, or the association with PRIF to promote inclusivity in entrepreneurship, these partnerships have been crucial in bolstering IIMCIP’s resolve to drive impactful innovations and shape the nation’s entrepreneurial landscape.
As IIMCIP marks a decade of fostering innovation, empowering entrepreneurs, and driving social impact, its journey is far from over. The next chapter promises to be even more exciting as the incubator continues to build on its successes, forge new partnerships and support the next generation of entrepreneurs who will drive India’s growth and development.
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