KOLKATA: The Indian Institute of Management Calcutta has setup an innovation park under the aegis of the Centre for Entrepreneurship and Innovation or CEI at IIMC to incubate and promote the growth of start-ups.

It will create a comprehensive ecosystem of 'learn, grow and share' to promote and nurture innovative enterprises, an IIMC release said.

"The innovation park plans to incubate 40 start-ups in the next five years. Also have an accelerator programme for established start-ups," it added.

IIMC said the innovation park has already been recognized as a technical business incubator by the Department of Science and Technology under the Ministry of Science and Technology and has approved a funding of Rs 7 crore over the next 5 years.

The management school proposes that Rs 10-20 crore be raised as seed fund over the next six months to provide credit support to the start-ups, it added.

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