IIMC Innovation Park, TechnoServe join hands to nurture over 100 green startups in five years

Kolkata, Oct 15 (PTI) The IIM Calcutta Innovation Park (IIMCIP) on Wednesday announced a five-year partnership with TechnoServe's Greenr Sustainability Accelerator to boost India's green entrepreneurship ecosystem to support over 100 climate-focused startups across the country.

The collaboration, which builds on IIMCIP's recently launched Rs 50 crore Cleantech and Sustainability Fund, will nurture and scale 20-25 early-stage green startups annually, focusing on sustainable solutions in sectors such as waste management, renewable energy, cleantech, agroforestry, and green construction.

Under the partnership, all selected ventures will undergo incubation through IIMCIP's startup programme.

The top 10-15 high-performing ones will receive advanced acceleration, market access, and investor linkages through the Greenr Sustainability Accelerator, supported by the IKEA Foundation and Visa Foundation, a statement said.

IIMCIP chairman Ajay Jain said the initiative would strengthen India's position as a cleantech innovation hub.

"India's vision of Viksit Bharat 2047 will be shaped by entrepreneurs who fuse innovation with sustainability. This collaboration with TechnoServe directly accelerates our Rs 50 crore Cleantech and Sustainability Fund and empowers the next wave of green entrepreneurs," he said.

Ajay Menon, programme director of Greenr Sustainability Accelerator and Senior Practice Lead (Entrepreneurship) at TechnoServe, said the initiative aims to create a robust ecosystem for green startups.

"Addressing the climate challenge demands not just bold ideas, but an entire ecosystem capable of sustaining them. Having worked with over 200 green startups, we're confident this partnership will help Indian ventures scale and attract global investors," he added.

Recognised by the Department of Science & Technology and the Ministry of Electronics and Information Technology, IIMCIP has so far mentored over 2,000 startups and seed-funded 130 ventures that collectively raised Rs 2,000 crore, with a portfolio valuation of around Rs 8,000 crore. PTI BSM MNB