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The NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), the incubation and entrepreneurship hub at IIM Bangalore (IIMB), and the Centre for Cellular and Molecular Platform (C-CAMP), a life science/healthcare technology and innovation hub here, have been selected by NITI Aayog for a grant of ₹10 crore each as scale-up support over the next two years.
Track recordNSRCEL and C-CAMP are among the six established incubation centres in the country to receive the financial support under the Atal Innovation Mission.
NSRCEL which is operational since 2012, has helped thousands of entrepreneurs, incubating 67 ventures that have created close to 5,000 jobs. Their cumulative valuation stands at a billion dollars.
The C-CAMP bio-incubator has in the last few years emerged as a thriving hub for innovation and a vibrant ecosystem, where it has supported over 70 innovative biotech life-science start-ups through seed funding, bio-incubation and mentorship.
NITI Aayog received 232 applications from all over India last year. A total of 17 shortlisted centres were interviewed and reviewed in depth by NITI Aayog, before the final six were picked.
ObjectiveThe objective of the scheme is to transform the start-up ecosystem in the country by upgrading the established incubation centres to world-class standards. Suresh Bhagavatula, Chairperson, Entrepreneurial Ecosystem Development, NSRCEL, said, “In addition to helping start-ups, we shall be using these funds to help SMEs and family businesses professionalise and scale up their operations.”
C-CAMP Director and COO Taslimarif Saiyed said, “This support will enable C-CAMP’s bio-incubator to scale-up its efforts towards building a world-class innovation incubation hub for healthcare/life-science start-ups.”
“In addition to 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.”
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