IIM Calcutta's Innovation Park introduces a Rs 50 crore fund to bolster clean technology and sustainability startups
The IIM Calcutta Innovation Park (IIMCIP) has announced the launch of a new Rs 50 crore fund, marking a significant step in the organization's mission to support entrepreneurs delivering both economic growth and climate impact.
The fund, dedicated to cleantech and sustainability startups, aims to scale women-led businesses that have already produced more than 60 "Crorepati Didis" and help startups scale faster, delivering meaningful climate impact. IIMCIP's portfolio is valued at over Rs 8,000 crore.
Dr. Subhrangshu Sanyal, CEO of IIMCIP, stated that the organization has funded more than 130 startups, scaled 450 rural enterprises, and enabled over Rs 2,000 crore in follow-on investments. These efforts have created more than 35,000 jobs and touched the lives of over 9.5 million people.
The initiative, named "Mission 2047 - A Social Unicorn," was launched by IIM Calcutta Innovation Park itself. For IIMCIP, success is not just about creating unicorns, but about transforming lives and communities on the path to Viksit Bharat @2047. The mission includes catalysing entrepreneurship in underserved regions like the East and Northeast.
The program provides startups with mentorship, market access, and partnerships with corporates and governments. IIMCIP also plans to roll out digital-first incubation programs to bring training and capital to entrepreneurs outside metro hubs.
Ajay Jain, Chairman of IIMCIP, stated that the initiative marks a turning point in how India nurtures sustainability-led enterprises. Jain also mentioned that the next major wave of innovation in India will come from cleantech and sustainability. The money will be deployed over the next 12 to 18 months.
The fund supports early-stage startups working in clean energy, climate resilience, sustainable agriculture, and waste-to-value technologies. IIMCIP's goal is to impact 1 billion lives by 2047, scaling businesses that can make a real difference in the fight against climate change and the pursuit of a sustainable future.
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