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IIM-Calcutta is planning look to incubate around 100 start-ups by 2020. The institute will hold a competition, wherein 5,000-odd ideas will be short listed, said Professor Ashok Banerjee of IIM-C.
As of now, the IIM has 14 incubatees, and another 6-8 are expected to be added by November.
Apart from mentorship and hand-holding, incubatees will also get access to technology and IIM’s alumni network. This apart, the institute will pick up a maximum of 3 per cent stake in the start-ups; it will also invest in some firms.
IIM-C, Banerjee said, has already invested around ₹1 crore across six start-ups. Investments into these start-ups come as seed capital.
IIM-C Director Saibal Chattopadhyay said the Innovation Park, which started two years ago, has also got the mandate to mentor 40 social entreprise start-ups, under the INVENT scheme, for a period of three years.
The INVENT programme is jointly funded by the Technology Development Board and the Department for International Development of the UK government. It is aimed at promoting social enterprise in low-income States. The start-ups under the INVENT programme will be for-profit enterprises and receive an initial seed funding of up to ₹25 lakh.
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