IIM Calcutta has established a not for profit (Section 8) company called IIM Calcutta Innovation Park (IIMCIP) to promote entrepreneurship and Innovation.
The objectives of IIMCIP are:
- To promote entrepreneurship and create a nurturing ecosystem where fledgling enterprises with innovative ideas and solutions can flourish
- To promote Innovation in research and business through industry-academia partnership
IIMCIP aims at creating a complete and comprehensive ecosystem to promote and nurture innovative enterprises.
IIM Calcutta Innovation Park provides both physical and virtual incubation. The incubation programme offers the following facilities to the incubatees:
- Dedicated Mentorship: Mentor pool comprising of IIMC Alumni, Faculty, Entrepreneurs, and investors with expertise on different domains
- Funding Connect: Connect incubates to various funding sources including funding schemes floated by IIMCIP (in association with investors), funding partners, Government seed / venture fund, Collateral free Bank loan (if eligible). IIMCIP aims at organizing seed funding to all incubatees and ensuring successful exit in 18-24 months time frame.
- Plug and Play workspace: With computer, internet, printing and conferencing facility
- Support Services: Legal, Secretarial, IT Infrastructure support, HR & Payroll, Travel and Logistics services provided by competent service providers who provide the services at preferential rates.
- IIMC student support: Engage IIMC students with the incubatees and help in solving some of the challenges faced by the start-ups.
- Training program on various aspects of entrepreneurship at IIMC campus
For more details please visit the website: www.iimcip.org
IIM Calcutta has started its journey in incubation with the signing of agreement with four social entrepreneurs. These social enterprises have been chosen by a team of faculty, venture capitalists, entrepreneurs and alumni.
These ventures had qualified in the final rounds of the Tata Social Enterprise Challenge which was held jointly with IIM Calcutta in February, 2013.
A brief profile of these enterprises is given below:
Doctors For You
Doctors For You (DFY) is a SAARC award winning humanitarian NGO in the health-care sector. DFY’s disaster relief and rehabilitation work has won it the British Medical Journal (BMJ) ‘Best Medical Team in Crisis Situation’ Award in 2011. DFY rolled out a project called DFY-MISP on a pilot basis (tie up with Tata Institute of Social Sciences) during Assam ethnic violence. DFY plans to spin-off this venture. DFY will deploy disaster relief teams in major Indian cities. These teams will respond to a disaster and provide primary relief & Minimum Initial Service Package (MISP) within 48 hours. Revenue would be by branding MISP camps and by rolling out disaster preparedness & capacity building packages to corporates. MISP is a (UN-FPA recommended) co-ordinated set of priority activities used for the reproductive well-being of women in crisis situations. DFY customizes MISP to suit the Indian scenario thereby reduce maternal & infant mortality.
SwitchON-ONergy is a hybrid social enterprise start-up creating an ecosystem for the uptake of complete energy solutions to rural India. ONergy is a ISO Certified (TUV) for-profit venture, setting up last mile energy distribution and service networks. ONergy serves the undeserved households and business by deploying solar LED lighting, solar electrification systems and cooking / thermal solutions, across East India. Switch ON is the not for profit arm that creates an ecosystem to facilitate last mile access to energy and promote livelihoods through rural energy entrepreneurship by training, capacity building and supporting innovation. They create a linkage between energy access, income generation and community development. Switch ON-ONergy has become a 30 Member strong team; set up 7 renewable energy centers across West Bengal and Odisha; and impacted the lives of over 100,000 people. Their mission is to impact one million lives by 2016.
Edwell Solutions Private Limited is already operating tuition centres in Chamba block of Tehri Garhwal district and Doiwala block of Dehradun district in Uttarakhand with a plan to add more 8 such centres in Uttarakhand by FY 2013-14. Edwell Solutions' future plan includes establishing 250 IT based tuition centre by 2018 in states of Uttarakhand, Uttar Pradesh & Bihar and reaching 15000 unserved students studying in class 3-6 from small towns.
Utopia is a Social Enterprise which has leveraged the automotive engineering & innovative design skills of its founders to create prototypes of low-maintenance, high-efficiency, low-pollution rickshaws specifically designed for Indian cities & towns. These innovatively designed rickshaws are hybrid vehicles that combine the best of efficiency and coverage of auto rickshaws with the economy & eco-friendliness of cycle rickshaws. Added innovative design benefits include ability of differently-abled people to drive the vehicles, and simultaneous water purification capability. The venture has already won a number of awards and is preparing for production & delivery of its vehicles. It aims to use superior technology, innovative design capabilities to serve larger societal goals of sustainability, inclusiveness, pollution reduction & poverty alleviation.
The initial plan of the venture involves to inject around 3000 rickshaws on the roads with around 500 rickshaws for differently-abled people and to produce around 1000 water purifier kits which can be fitted on rickshaws. Initially, around 2000 families across the country are expected to be benefited under this project.