The Indian Institute of Management-Udaipur Incubation Centre has started funding the direct-to-consumer start-ups of its alumni in an attempt to enable entrepreneurs get investments and make a mark in the emerging industries. The initiative will also involve support through mentorship and extension of network.
The founding teams of start-ups will get the backing for expanding their product portfolio, enhancing operations and growing their presence across more cities in the country. Leading experts from different domains with industry experience will interact with the entrepreneurs with the focus on rolling out their products and services and build ventures.
IIM-Udaipur director Janat Shah said that the institute viewed the alumni as a “crucial pillar” and considered their accomplishment vital for its journey.
The first start-up to receive assistance is a curry pastes brand made with ghee, launched by two postgraduates from early batches of IIM-Udaipur, Richa Sharma and Nischal Kandula. Incubation Centre’s CEO Kannan Soundararajan said the start-up’s foundation was laid on the very grounds of the institute.
The Incubation Centre was set up under the guidance of the Union government’s Department of Science & Technology to promote innovations and entrepreneurship. It provides laboratory facilities to develop prototype as well as co-working space and industry and investor connects.
