IIM Incubators, A Great Source Of Funding For Startups


CIIE has invested around 14-15 crore in start-ups and has pulled out as much as 10% equity in these. Chaired by Prof Rakesh Basant, it was only recently that CIIE decided to rebrand itself as Aarohan, which means ascent.

“Aarohan, which was formed after three years of research, not only provides early stage funding but also provides hand-holding support as well as aims at creating the ‘whole support ecosystem’ which is nonexistent today”, said Shashank Rastogi, director (operations), CIIE.

Other startups backed by Aarohan include MediAngales, the world’s first online hospital that seeks to provide services through phone and Internet; SuryOn, a startup that developed the solar-powered Apollo Mobile Phone charger; Pappilon Software Solutions, Nanopix and many others.

IIM-Bangalore has a similar incubation centre under the N.S.Raghavan Centre for Entrepreneurial Learning (NSRCEL), which was set up in 1999. It has incubated around 46 enterprises, including 11 that are currently being incubated.

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