The YouthNet and the IIM Calcutta Innovation Park (IIMCIP), the business incubation arm of the prestigious Indian Institute of Management Calcutta, have signed a Memorandum of Understanding (MoU) that will foster entrepreneurship and innovation.
The YouthNet has informed that this partnership is an extension of previous partnership formalized through an MOU with the aim to provide commercialization support and scaling opportunities for startups by focusing on creating robust business models, mentorship, market linkage, and access to funding and visibility.
The MoU was signed by Nunesenuo Chase, Director of YouthNet, and Neikepekho Shosahie, Manager at the YouthNet Incubation Centre (YIC), alongside Pranjal Konwar, Chief Operating Officer (COO) of IIMCIP, and Sadique Mannan, Program Head, IIMCIP. Both parties acknowledge the benefits of collaboration, especially through joint engagement with the innovator community.
The MoU sets a framework for promoting research-driven innovations, helping entrepreneurs bring their ideas to market and scale them for wider adoption. The goal is to co-create success stories on both regional and national levels, leveraging the complementary strengths of YouthNet and IIMCIP.
Through this partnership, entrepreneurs will receive comprehensive support, including proof of concept (POC) development, access to technology and lab facilities, handholding, mentorship, capacity building, and crucial market and finance linkages. These services will be provided subject to the terms and conditions of each incubator involved.
Additionally, the Partners also hosted the Ministry of Electronics and Information Technology’s (MeitY) Technology Incubation and Development of Entrepreneurs (TIDE 2.0) program. Over 35 startups and innovators participated in this initiative held at YouthNet Incubation Centre in Dimapur, Nagaland. The TIDE 2.0 program aims to support 2,000 startups through ICT-enabled technologies, with applications spanning healthcare, education, agriculture, financial inclusion, clean energy, and more.
Shortlisted entrepreneurs from the Techathon on 9th September 2024 will be invited for the next round of B-plan pitching, leading to the final winners’ declaration. The initiative seeks to identify startups that can qualify for the MeitY Entrepreneur-in-Residence and MeitY Grants under the TIDE 2.0 program.
Further, the YouthNet has said that this partnership with IIMCIP will provide a valuable opportunity to entrepreneurs with transformative ideas, particularly those addressing key challenges in Northeast India, to turn these ideas into impactful and profitable solutions. IIM Calcutta Innovation Park is actively seeking promising ventures to nurture and scale.
