IIM Calcutta innovation Park (IIMCIP) is a nonprofit company set up under the aegis of IIM Calcutta to promote entrepreneurship and innovation and established itself as a premier hub of entrepreneurship development in East and Northeast India.

IIMCIP has a strong focus on social entrepreneurship and supports technology-enabled innovation with social impact. In the last 8+ years, IIMCIP has reached out to 1 million youth pan India, catalyzed 35,000+ innovative ideas, mentored 5,500+ entrepreneurs, and supported 100+ startups, thereby positioning itself as one of the fastest-growing incubators in the country and a thought leader in social entrepreneurship space. IIMCIP has till date provided seed funding support amounting to Rs.26 crores to various startups and has facilitated follow-on funding amounting to Rs.1,946 crores for the incubated startups.

• The program is for early stage, early revenue and MVP stage North East Region startups.
• Startup must be in the space of Sustainability and Circular Economy.
• Sectors like Waste Management and Recycling (Waste to value added products), Green Manufacturing, Cleantech and Environment Friendly Solutions, Sustainable and Indigenous Products are eligible to apply.
• The applicant should be a citizen of India.
• Business should be operational in the North East Region of India.

Incubation is a process whereby an entrepreneur/organization get help for their new and startup business to develop by providing services such as management training, capital or office space. The incubation provides the eco-system for harnessing new business idea/concept and develop it into a commercial venture.

Incubator is an organization or establishment that supports entrepreneurship promotion, startup development through incubation process.

An entity shall be considered as a Startup:
i. Upto a period of seven years from the date of incorporation/registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India. In the case of Startups in the biotechnology sector, the period shall be upto ten years from the date of its incorporation/ registration
ii. Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded Rs. 25 crore
iii. Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.

Mentoring involves advising or training an individual or a group of individuals and guiding them pertaining to their respective activity or domain. This involves counseling, training and guidance by experts. A mentor can be anyone who helps a new individual learn and understand the nuances of a particular activity/work/business/art/trade. Mentor usually have long years of hands on expertise in their area of work and have demonstrated success in their field.

It is a process to identify the various sources of revenue generation of the business. It helps capture the value proposition and revenue sources for the goods and services of any business. A clear revenue model is important for sustainability of the business.

The process of improvement in the existing product/services in its manufacturing/delivery/use and applicability by way of technology and enhances efficiency adding to its value proposition/benefits is termed as innovation.

An Enterprise is a legal entity usually small that helps conduct business in a private and profitable manner to any individual or group of individuals. The definition for micro and small enterprises is defined depending on the investment that is made in the core plant and machinery/turnover recorded at the end of fiscal year.

It is the problem observed within the society or experienced by the founder and builds a solution to overcome that problem. The solution is the product or service developed by the startup and it should be a realistic and scalable offering.

The business that focuses and registers enough profits so as to serve its own cost of existence and grow on a year-on-year basis is a sustainable business. The products and services of the business remains relevant in its value proposition and benefits to its customers to be in demand sustains itself.