Two Bengaluru Incubators Among 6 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 ational, 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. “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,” C-CAMP chief operating officer Taslimarif Saiyed said.
C-CAMP, along with the National Centre for Biological Sciences and the Institute for Stem Cell Biology and Regenerative Medicine, forms the Bengaluru Biocluster. “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,” NCBS director Satyajit Mayor said.
—Bharath Joshi & J Vignesh