NMIMS launches incubation centre for emerging start-ups

“A startup is a company that is confused about what its product is, who its customers are, and how to make money!”

Dave McClure, the founder of business accelerator 500 Startups, said about the start-ups. The initial journey of a start-up sees maximum turmoil and therefore a helping hand is required to guide them through the fog. This is where incubators can make a huge difference in helping start-ups navigate through the ups and downs of the entrepreneurial world.

Prompt investor connect, vibrant ecosystem, diverse and constant mentoring, world-class infrastructure, and free credit programmes, are just a few of the advantages that a dedicated incubation programme such as the AIC-NMIMS Incubation Centre offers. Housed in the heart of Mumbai, this state-of-the-art incubation centre brings together the right mix of people, resources and values. The programme seeks to build an innovative and collaborative ecosystem for young entrepreneurs to thrive.

This Incubation Centre has been set up with the support from different schools under NMIMS University and Niti Aayog (Atal Innovation Mission), with the vision of promoting and creating an-entrepreneurial community within the city of Mumbai. The AIC-NMIMS Incubation Centre launched its first cohort in the month of July with an overwhelming response of over 220 applications and started its centre with the first cohort of 10 start-ups.

The Incubation Centre is now calling for its fourth cohort of vibrant entrepreneurs hoping to build sustainable businesses.

According to CEO Harshal Shah, “We are housed in the heart of a very vibrant multi-disciplinary ecosystem. This is largely because of the different colleges (business school, engineering, design, law) around us. All we needed to do, was connect the dots, to allow entrepreneurs, from across India, the benefits of this ecosystem. We have built a centre, where we understand the pains and toil of starting a business and try to provide as much support as we can, to make this journey smooth and memorable.”

The incubation centre provides participants with access to the NMIMS’ state of the art infrastructure, which includes:
1. Workspace– Dedicated area with access to shared office infrastructure, Wi-Fi, etc.
2. Library and knowledge centre – Access to over 50,000 books, 300 journals, 5000 e-journals, 14 databases, technical reports, Bloomberg terminals and digital labs
3. Meeting and conference rooms – Conference Rooms and meeting rooms for closed discussions
4. Teleconferencing facilities – Conduct telecon meetings with clients and partners
5. Smart Office Infrastructure – High-speed and high-capacity printers, copiers and scanners on a shared basis
6. Lab facilities – Access to laboratory infrastructure for performing experiments in IT/IoT

7. Business/Marketing/Legal Advisory

The good news for young entrepreneurs is that AIC NMIMS Incubation is accepting applications again, for its fourth cohort. This incubation centre is open for all and any entrepreneur wishing to build a sustainable and innovative business.

The selection process includes three stages: application submission and screening, boot camp and business pitch presentation and selection and incubation offer. If start-ups, entrepreneurs or students are selected to be a part of the programme, they need to work from the Incubation Centre to avail the above-mentioned services.

Note: This article has been published on the basis of press communication by the college