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Feb, 04 2017

​Two Bengaluru incubators chosen for NITI Aayog funding

NITI Aayog, the government's policy think-tank, received 232 applications last year for assessment under this scheme. A total of 17 shortlisted centres were interviewed and reviewed.

​Two Bengaluru incubators chosen for NITI Aayog funding

Two incubators from India's Silicon Valley are among the six chosen by the NITI Aayog's Atal Innovation Mission for scale-up support funding.

The scheme aims to upgrade established incubation centres to world-class standards.

The NS Raghavan Centre for Entrepreneurial Learning at the Indian Institute of Management, Bangalore (IIM-B), and the bioincubator at the Centre for Cellular And Molecular Platforms (C-CAMP) will receive Rs 10 crore each over two years. Tiruchirappalli Regional Engineering College Science and Technology Entrepreneurs Park (TREC STEP), Ninety One Springboard Group in New Delhi, Amrita Technology Business Incubator in Kollam, and Access Livelihoods Consulting India Ltd in Hyderabad are the other incubators that will receive the funding.

NITI Aayog, the government's policy think-tank, received 232 applications last year for assessment under this scheme. A total of 17 shortlisted centres were interviewed and reviewed.

Suresh Bhagavatula, chairperson, Entrepreneurial Ecosystem Development, NSRCEL, said, "In addition to helping startups, we will use these funds to help (small and medium enterprises) and family businesses professionalize and scale up operations. We also plan to train entrepreneurs by using a blended learning approach, which uses both online and offline classroom training."

Since IIM-B already has over 20 online courses, it would be easy for NSRCEL to reach out to a large number of ventures.

Since 2012, when it became operational NSRCEL has had 67 incubatees, 19 student-run ventures and 65 startups as part of its Launchpad initiative, creating close to 5,000 jobs, according to the IIM-B.

The bioincubator at C-CAMP is the only life science/healthcare incubator selected by NITI Aayog for funding. Since 2012, it has supported close to 70 startups, with 15 resident startups on its campus.

Taslimarif Saiyed, Chief Operating Officer, C-CAMP, said, "This will take our current capabilities the next level. There‘s also a possibility of a small seed fund. We will possibly be able to build more space."

Satyajit Mayor, Director, NCBS, said, "Healthcare and innovation that is indigenous does not happen very often. It‘s very exciting for us, and C-CAMP is creating a favourable ecosystem."

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