IIM Calcutta Innovation Park (IIMCIP) has signed a memorandum of understanding (MoU) with Ratan Tata Innovation Hub (RTIH), Vizag, to provide a co-incubation program designed to back market-ready and revenue-generating startups from Andhra Pradesh.
Ventures selected under this program will receive funding of up to Rs 2 crore, along with expert guidance on product development, governance, scaling operations, and market entry.
The partnership combines IIM Calcutta Innovation Park’s extensive incubation expertise and institutional networks with Ratan Tata Innovation Hub’s robust regional connections and local startup ecosystem.
The CEO of IIM Calcutta Innovation Park, VK Rai, expressed that there is a strong entrepreneurial energy in Andhra Pradesh.
IIM Calcutta Innovation Park has supported over 2,000 startups since it started. Supported ventures have collectively raised over Rs 2,000 crore in funding, with a combined valuation nearing Rs 8,000 crore.
Andhra Pradesh’s flagship initiative, Ratan Tata Innovation Hub, aims to transform the state into a global startup hub. Backed by ArcelorMittal Nippon Steel and GMR Group, the hub provides startups with corporate mentorship and market access across manufacturing, technology, and infrastructure sectors.
Also read: Lokesh invites a Spanish firm to develop hydrogen pilot vehicles in Vizag port.
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