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NITI Aayog has shortlisted the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) of IIM Bangalore to receive Rs.10 crore. NSRCEL is the incubation and entrepreneurship hub of IIM Bangalore. It will receive the amount as scale-up support over a period of two years.
The aim of granting this support fund is to help the centre upgrade itself and develop its infrastructure. With the right investment and planning, they will be able to support entrepreneurship schemes through the NSRCEL.
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Other incubation centers similar to NSRCEL have also been picked by the center. These highly established centers will receive financial help under the Atal Innovation Mission. More than 232 applications were received by NITI Aayog from all over India in 2016 to be assessed for this scheme.
17 centres were shortlisted by NITI Aayog and were evaluated based on different aspects. After a thorough assessment, six centres were picked by the organization.
Suresh Bhagavatula, Chairperson of Entrepreneurial Ecosystem Development, NSRCEL, said that it is very important to promote entrepreneurship in the nation and such funding will help encourage aspiring businessmen. He also added that it will help in professionalizing SMEs and family businesses at their own scales.
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He further added that incubation facilities will be able to provide training programmes for entrepreneurs with the help of a merged learning approach using online and offline tools. IIM-B already facilitates more than 20 online courses and will be able to extend the reach of NSRCEL, added Suresh.
