Kolkata: The IIM Calcutta Innovation Park (IIMCIP) plans to support 100 new startups over the next two to three years, with an average seed capital of around Rs. 25 lakh per venture. The B-School incubator has already provided over Rs. 4 crores in total seed funding to 20 startups from Northeast India under its incubation program. With IIMCIP's renewed mission to fund 100 new ventures, more startups from the region are expected to benefit from its incubation program.
In its 10 years of existence, the B-School Incubator has invested Rs. 27 crore in 108 startups, which have collectively raised over Rs. 1900 crore in external funding. The combined valuation of these startups is approximately Rs. 7,300 crore. Dr. Subhrangshu Sanyal emphasized the selection criteria for funding, focusing on three essential qualities: innovation, a robust business model, and team capability.
Established under the aegis of IIM Calcutta, IIMCIP is a not-for-profit organization dedicated to fostering entrepreneurship and innovation.
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