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IIMCIP launches its new project INVENT

by IBNS 20 Oct 2016, 07:15 am

#IIM Calcutta Innovation Park #IIM Calcutta #IIMCIP #entreprenuership #seed funding #MSME #INVENT

Kolkata, Oct 20 (IBNS): IIM Calcutta Innovation Park, formed under the aegis of IIM Calcutta, for promoting entrepreneurship and innovation in research and business through industry-academia partnership, formally announced the launch of its new initiative INVENT, on Wednesday, at IIMC City Office campus in Kolkata.

According to the organization, INVENT is a joint initiative by IIMCIP in association with DFID UK and Technology Development Board (TDB), Government of India.
 
The program is designed to create a platform to support social entrepreneurs in eastern India, for-profit social enterprises, which are deploying innovative solutions to the prevailing social challenges.
 
Ashok Banerjee, professor of IIM Calcutta, said, ”The objective of INVENT is to identify and incubate for-profit social enterprise startups, working with innovative business ideas. We would gladly provide mentorship, seed fund, training and network opportunities to the promising entrepreneurs in this field.”
 
“IIMCIP has created an ecosystem with all required support to translate an innovative idea to a self sustaining and financially independent business," he added.
 
The organization mentioned that they are planning to incubate 100 plus startups by 2020.
 
Saibal Chattopadhyay, Director IIM Calcutta told IBNS, ”At present the organization has 14 incubates but IIMC is in the process of onboarding eight more incubates, out of which six are from Kolkata.”
 
He said,”The current incubatees have already raised Rs 6 crores and during the upcoming financial year, the incubatees are expecting to project, a revenue of approximately 18 crores.”
 
The company claimed that IIMCIP has invested seed fund in the following six startups- My Private Tutor, Bodhi Health Education, Edwell Solutions, Appeti, Organic Thali and Magasool.
 
As stated, IIMCIP  in partnership with MSME Department, Government of West Bengal has launched a  TV reality show, “Egiye Bangla”, on startups. 
 
The programme aims at identifying, recognizing and rewarding aspiring and early-stage entrepreneurs having unique innovative business ideas across all sectors.
 
Subhrangshu Sanyal, CEO, IIMCIP said, “IIMCIP has been actively working on promoting entrepreneurship among youth, identifying and supporting innovative startup ventures. We conduct programs pan-India and have a focus on developing the entrepreneurship in east and north east.”
 
“Through the INVENT program, we would encourage entrepreneurship in West Bengal and provide budding entrepreneurs the opportunity to hone their entrepreneurship skills and launch sustainable ventures which will add value to the society at large," he said.
 
 IIMCIP is Section 8 company under the Companies Act, 2013. 
 
(Reporting by Aninnya Sarkar)
 
 
 

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