In what could mark a turning point for the startup ecosystem of Northeast India, IIM Calcutta Innovation Park (IIMCIP) is intensifying its focus on the region with a multi-pronged strategy to scale innovation, create employment, and attract national and global investment. Speaking exclusively to Business Northeast (BNE) at the Connect.X startup networking summit in Guwahati, Ajay Jain, Chairman of the IIMCIP Board, revealed ambitious plans for accelerating entrepreneurship in Assam and the broader Northeast.
"Less than 2 per cent of India’s startups come from the Northeast. Yet, the talent, passion, and potential here are undeniable. This is India’s most unexplored innovation frontier," Jain said.
Connect.X, now in its fifth edition, has evolved into one of India’s largest networking platforms aimed at nurturing startups through direct engagement with accelerators, mentors, and impact investors.
“Unlike many startup events that simply showcase ideas, Connect.X is about nurturing them to execution. It’s about identifying the hidden gems and enabling them with the right resources. We believe in creating job creators, not job seekers,” said Jain.
He cited the example of the Tata Social Enterprise Challenge, a flagship initiative under IIMCIP, which handpicks startups from across India and filters them down to the top ten and final three. “Some of these ventures are doing extraordinary work, and Connect.X is the bridge that connects them to growth capital and market access,” he added.
IIMCIP’s interventions are not confined to urban entrepreneurs. Jain proudly highlighted a grassroots revolution led by women from rural East and Northeast India.
“We’ve worked with over 2,000 rural women entrepreneurs, what we call our didis and out of them, 60 have become ‘crorepati didis’,” Jain shared. “These are women whose ventures now earn revenues of over Rs 1 crore annually, and they’re generating jobs in their communities.”
The ripple effect has been significant. “Each of these women has created 5 to 20 employment opportunities, touching nearly 12,000 lives. It’s proof that entrepreneurship is not just an urban or elite concept,” he said.
Looking ahead, IIMCIP is placing Northeast India at the heart of its long-term strategy. “We’ve incubated over 700 startups, and now our goal is to double down on Assam and the Northeast. This is not just a moral imperative, it’s a strategic one,” Jain said.
A glimpse into that vision will be seen in the upcoming national conclave “India 2057: The Quantum Leap by Entrepreneurship”, to be hosted at IIM Calcutta on August 16-17.
“Our Prime Minister speaks of Viksit Bharat, a developed India by 2047. We believe the Northeast must be central to that journey,” he noted.
In a significant move, IIMCIP has launched the Technology and Innovation Council (TIC) to focus on AI and deep-tech startups in East and Northeast India. The board of this new entity includes global heavyweights such as the Head of Google Asia and renowned academic Prof. Ashok Jhunjhunwala of IIT Madras.
“Our aim is to build a world-class innovation corridor in this region. We are already in talks with leading startup founders from Bangalore, Hyderabad, and other hubs, introducing them to Northeast’s untapped potential,” said Jain.
Furthermore, IIMCIP is planning to launch a dedicated fund focused on startups from East and Northeast India. “This fund will be backed by global investors and will address the capital access gap that most startups from this region face,” he added.
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While IIMCIP has thus far focused on incubation and capacity-building, Jain confirmed a strategic shift toward policy advocacy. “We are now establishing two Centres of Excellence, one on Manufacturing, the other on Climate Change. These centres will generate research and policy papers to be submitted to state and central governments,” he said.
These insights, backed by IIM Calcutta’s academic strength, aim to influence frameworks around sustainability, industrial innovation, and startup regulation.
The exclusive insights from Ajay Jain come at a time when Assam’s startup policy is still maturing. While incubators and entrepreneurship cells have taken root in places like Guwahati and Dibrugarh, sustained institutional support, access to venture capital, and national integration remain challenges.
Jain’s vision, grounded in both grassroots impact and high-level innovation, may offer a blueprint.
“Northeast is not a charity case. It’s a missed opportunity that India can no longer afford to ignore,” Jain said pointedly. “At IIMCIP, we are not just talking inclusion, we are executing it.”
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