IIM-Calcutta Innovation Park Launches Rs 50-Crore Fund for Cleantech Startups

IIM-Calcutta Innovation Park has unveiled a Rs 50-crore fund aimed at nurturing early-stage cleantech and sustainability startups. This financial support will be complemented by mentorship, market access, and partnerships with corporates and governments.

Chairman Ajay Jain remarked that the fund signifies a shift in India's approach to sustainability-focused enterprises. 'We're aiming not just for unicorns, but for community transformation,' he said. IIMCIP's 'Mission 2047' seeks to impact a billion lives, focusing on women and rural entrepreneurship, especially in underserved regions.

CEO Subhrangshu Sanyal highlighted their track record, noting they have funded over 130 startups with more than Rs 2,000 crore in follow-on investments. Since 2014, IIMCIP has supported ventures like 'Dehaat' and '5C Network,' creating over 35,000 jobs and reaching 9.5 million people.

(With inputs from agencies.)