IIM Mum opens incubator to anyone with a good idea
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.
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"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.
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