Odisha welcomed its first Atal Incubation Centre (AIC), AIC – Nalanda Institute of Technology Foundation (AIC-NITF or AIC-Nalanda), at the Nalanda Institute of Technology (NIT) in Bhubaneswar, recently. Launched as an incubation facility for promotion of entrepreneurial activities and innovation support, AIC-Nalanda is a Technology Business Incubator (TBI) under the aegis of Atal Innovation Mission (AIM), a flagship initiative of NITI Aayog, Government of India, to promote a culture of innovation and entrepreneurship within the region.
Located in Chandaka, AIC-Nalanda offers a dedicated incubation space of approx. 10,000 sq. ft., with state-of-the-art co-working spaces, technical support, funding assistance, mentoring support, business validation, industry connect, legal, accounting and regulatory support, market connect, etc. to its incubatees. The TBI offers incubation to early-stage startups, product-ready innovators and scalable business models, with a dedicated core team to provide internal review, portfolio design and mentor-connect and investor access.
With its extensive in-house resources, infrastructure and academic-industry collaborations, AIC-Nalanda focuses on providing support to startups, innovators and entrepreneurs through:
- Digital expertise: digital solutions for core industry-based startups working on IoT, AI and data analytics-based solutions.
- Social-tech expertise: social enterprises technology-led startups in the field of education and agricultural machinery for small holding farmers.
- Product development: for innovators and researchers who are interested for technology commercialization and working out business plan models.
Commenting on the occasion of the virtual launch of AIC-Nalanda, Malaya Kumar Padhi, Founder & Chairman, AIC-Nalanda, said, “Our state has great potential to lead the nation’s economy with its young talent and abundant resources. AIC-NITF is an initiative dedicated to the industrious youth of Odisha, who are deprived of opportunities and genuine support, in terms of mentoring or investment. Our aim is to create a platform, in-house, so that our future generations shall not have to leave the state in search of possibilities.”
To kickstart its activities, AIC-Nalanda has launched a nationwide business plan competition called ‘Vichaar 1.0: Business Plan Competition 2020’. The objective of this competition is to encourage students, innovators, entrepreneurs and startups across India to transform their unique and innovative ideas into effective business plans.
For this initiative, AIC-Nalanda has partnered with Atal Innovation Mission (AIM), Startup Odisha, Carve Startup Labs, & HDFC Bank
Inviting budding entrepreneurs to apply for Vichaar 1.0, Dharmendra Srivastava, Director, AIC-Nalanda, said, “We are blessed to be based in the heart of a very vibrant multi-disciplinary ecosystem. All we needed to do was connect the dots to allow entrepreneurs, from across India, the benefits of this ecosystem. We want to build a Business House, where we understand the pains and toil of starting a business and try to provide as much support as we can, to make this journey smooth and memorable. Vichaar 1.0 is an effort of indulging the minds filled with master ideas to work out a valid business plan.”
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