The Indian Institute of Management (IIM) Calcutta innovation park is in limelight after the institute announced its plan to launch it to incubate and accelerate the growth of startups in India. The innovation park, which has been registered as a Section 8 company under the new Companies Act, would put its basic focus on healthcare, education, clean technology, lifestyle and analytics.
Saibal Chattopadhyay, Director-IIM Calcutta, Ashok Banerjee, Dean (New Initiatives and External Relations), and Anindya Sen, Dean (Academic), would be heading the first director posts of the park. According to a newspaper source, the company has signed on three startups at the moment namely - ONergy, Doctors For You and Edwell. There would be two more companies namely, Bodhi Healthcare and Sambad Setu, which would be joining within the next two months.
Ashok Banerjee, dean, new initiatives and external relations, at IIM Calcutta said that the incubator will focus on entrepreneurial ventures developing product as well as delivery of services and that they have created an eco-system with all required support to translate an innovative idea to a self-sustaining and financially independent business. Other institutions which have built a strong reputation in incubating startups are IIM Ahmedabad, IIT Madras and IIT Bombay. The company's core model would be 'learn, grow and share' to promote and nurture innovative enterprises.
The company will function under the Centre for Entrepreneurship and Innovation or CEI at IIM Calcutta. The Department of Science and Technology has recognised the park as a technical business incubator and has approved a funding of Rs 7 crore for the capital and operational expenditure of park. IIP will acquire an equity stake of 2-5 per cent in the incubating companies in the form of an upfront transfer to IIP or liquidation of the stake at the time of exit from the park.
Original source : http://indiatoday.intoday.in/education/story/iim-calcutta-sets-up-innovation-park---primary-focus-on-healthcare-education-clean-technology-lifestyle-&-analytics/1/381566.html
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