The NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), the incubation and entrepreneurship hub at IIM Bangalore (IIMB), has been selected by NITI Aayog (National Institution for Transforming India) to receive Rs10 crore as scale-up support over the next two years. The fund will enable the centre to upgrade and expand its infrastructure for entrepreneurs.
NSRCEL is one of the six established incubation centres in the country to receive this financial support under Atal Innovation Mission.
NITI Aayog received 232 applications from all over the country last year for assessment under this scheme. A total of 17 shortlisted centres were interviewed and reviewed in depth by NITI Aayog before the final six were picked.
The objective of the scheme is to transform the start-up ecosystem in the country by upgrading established incubation centres to world class standards.
Suresh Bhagavatula, chairperson, Entrepreneurial Ecosystem Development, NSRCEL at IIM Bangalore, said, "In addition to helping start-ups, we will be using these funds to help SMEs and family businesses professionalise and scale up their operations. Apart from incubation facilities, we plan to train entrepreneurs by using a blended learning approach, which uses both online and offline classroom training. Since IIMB already has over 20 online courses, it would be easy for NSRCEL to reach out to a large number of ventures.”
NSRCEL is one of the most vibrant start-up incubators in the country, located inside a management school, operational since 2012. Over the years, it has helped thousands of entrepreneurs, actively incubating 67 ventures that have gone on to create close to 5,000 jobs.
Recently, NSRCEL has started focused initiatives for women entrepreneurs and non-profit sector organisations. The centre is forming active collaborations with industry and other academic institutions to strengthen the much needed start-up ecosystem in the country.
