Latest news with #AIC-NIFIE
Time of India
12 hours ago
- Business
- Time of India
IIM Mum opens incubator to anyone with a good idea
Mumbai: IIM Mumbai has opened the doors of its incubator not just to students or fresh graduates, but to anyone with an idea and the courage to build it -- from silver-haired retirees with decades of wisdom to homemakers with sharp instincts and side-hustles waiting to bloom. On Tuesday, the AIC-NIFIE incubator was inaugurated by Union minister of state for science and technology Jitendra Singh. The Atal Incubation Centre-NITIE Incubation Foundation for Innovation and Entrepreneurship (full form) is an umbrella organisation at IIM Mumbai for fostering entrepreneurship and nurturing tech start-ups. Backed by NITI Aayog, the business incubator provides 'start to scale' support for technology-based entrepreneurship and facilitates the conversion of research activity into entrepreneurial ventures. Singh called for an end to working in silos, urging a seamless blend of govt, industry, and academia. "The integration of academia, industry, and govt is essential for India to meet its rapid development goals. The age of silos is over. Now we are getting more and more integrated," he said. The minister said all stakeholders, including representatives of industry, should be brought together as the demarcation between the private and public sectors does not exist. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai "It is no longer an option, it is a necessity to achieve the country's development goals," the minister said. Singh noted India's rise from 350 startups in 2014 to over 1.5 lakh in 2025, with space-tech now open to 100% FDI and backed by a Rs 1,000-crore fund. "Startups are built on aptitude, ideas, and innovation -- not just fancy degrees." Director of the institute, Manoj Tiwari, said: "We invited bold entrepreneurs to apply, panels of experts heard their ideas, interviewed them, and we have allotted 6 rooms out of the total 13 to some bold entrepreneurs." To date, 14 startups have been incubated on campus.
Indian Express
14 hours ago
- Business
- Indian Express
Govt-funded incubation centre for startups inaugurated at IIM
The Atal Incubation Centre – NITIE Incubation Foundation for Innovation and Entrepreneurship (AIC-NIFIE) was inaugurated at the Indian Institute of Management (IIM) Mumbai by Union Minister of State Jitendra Singh (independent charge) Science and Technology and Earth Sciences on Tuesday. Established under the Atal Innovation Mission, AIC–NIFIE aims to be a transformative platform to nurture innovation and support early-stage startups. The AIC-NIFIE will provide support for incubation, mentorship, industry partnerships, and access to cutting-edge research and technology for students at IIM Mumbai as well as outsiders with potential start-up ideas. While open to all, the incubation centre will give IIM Mumbai students and alumni priority, without compromising on merit-based selection. Singh highlighted the importance of an integrated approach for such support. 'There are myths about startups as a concept that it has to be by youngsters, especially those from the field of technology. Whereas anybody with a potential idea can work towards creating a startup.' Emphasising the importance of academic institutions like IIM Mumbai in bridging policy, research, and enterprise, he said, 'Innovation is the backbone of a developed India. Centres like AIC–NIFIE will be instrumental in translating India's demographic dividend into tangible economic growth.' Formed under section 8 of the Companies Act, 2013, AIC–NIFIE operates as a not-for-profit initiative, with funding support from NITI Aayog and the Government of India. Professor Manoj K Tiwari, director at IIM Mumbai, said, 'Through the first advertisement inviting applications from potential startups, already ten are under the incubation centre. Applicants come from diverse backgrounds, including non-IIM Mumbai students. Soon a new advertisement will be issued to invite more applications.'
