100 craft startups to receive support under IIM Ahmedabad incubator by 2025

Over the next three years, CIIE.CO intends to support startups that build disruptive technologies to bring efficiencies in the craft value chain in areas like supply chain transparency and traceability.

The startup incubator of the Indian Institute of Management, Ahmedabad’s Center for Innovation, Incubation and Entrepreneurship (CIIE.CO) will support over 100 early-stage craft startups by 2025. Access to portfolio support will also be provided to over 15 innovative craft startups. It will provide seed funding and capital support of up to INR 50 lakh. Chintan Bakshi, Partner, Incubation, CIIE.CO, said, “Passionate entrepreneurs working directly with craft clusters in India can help India leapfrog from a fossil-fuel-based economy to a green and sustainable economy. At the same time, it would create millions of sustainable rural livelihoods,” according to BusinessLine.

Interventions in design, materials, and technology to develop and market sustainable, socially conscious, and eco-friendly products will fuel the growth, he added. Over the next three years, CIIE.CO intends to support startups that build disruptive technologies to bring efficiencies in the craft value chain in areas like supply chain transparency and traceability.

It is also looking at startups innovating with craft materials for artisans, creating disruptive technology models for customer experience, and introducing innovations and interventions to bring efficiencies and improved market connections to a craft or craft cluster.

Over the past three years, CIIE.CO has conducted three craft-centric startup programs, covering over 46 startups and enabled funding for 17 startups including Khadigi, Kosha, Golden Feather, Fabriclore, and Fabricmonde, among others.

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