IIM Calcutta Launches Innovation Hunt Aimed at Transforming India
- The Department of Science and Technology and IIM Calcutta have come together to launch an innovation project to help entrepreneurs understand the know-how of sustaining their ventures.
- DST will provide access to the start-up ecosystem and seed fund for prototyping.
Indian Institute of Management, Calcutta has launched the ‘Smart Fifty - 50 Solutions to Transform India’ - an innovation hunt project with an objective to identify 50 start-up projects which can play a vital role in the socio-economic transformation of the country. The project has been conceptualised and launched by IIM Calcutta in collaboration with the Department of Science and Technology (DST). IIM Calcutta will accept national as well as international entries for the next six months.
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Interested candidates can submit their ideas and proposals to IIM-C. Selections will be done through a thorough process after which the shortlisted ones will be helped and financially supported by the DST. Additionally, IIM Calcutta will play a vital role in mentoring the start-ups. The top 50 business ideas will have an opportunity to get a seed grant of Rs. 4 lakh each while the top 10 ideas will utilise a total grant of Rs. 10 lakh among themselves.
Mr. Ashok Banerjee, who is associated with the innovative hunt project, mentioned that IIM Calcutta is eyeing at encouraging responsible, smart, transformative, affordable, motivating and sustainable ideas to further provide the required support so that they can create a positive impact on the country in some way or the other. IIM Calcutta will provide visibility, mentorship and access to funds to the participants. The selected ideas will enable the participants to take their ventures to the next level.
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The joint initiative taken by IIM Calcutta and DST is a positive step towards catalysing innovative spirit among the aspiring entrepreneurs. It is expected to receive a positive response from the budding entrepreneurs who have a knack for innovation from across the world.