IIMB’s innovation hub, NSRCEL, launched a rural entrepreneurship incubation program.
IIM Bangalore’s innovation and entrepreneurship hub, NSRCEL, started the rural entrepreneurship incubation programme to help boost, improve, and strengthen the ecosystem for entrepreneurs and new businesses in rural India.
The goal of the programme is to create sustainable jobs and ways to make a living in remote rural areas by focusing on actions for balanced, all-inclusive development and closing socioeconomic gaps. It also wants to help people who want to start their own businesses solve problems in rural India.
Rural India’s growth should be sustainable
‘The pandemic has shown how big the social and economic gaps and weaknesses are in rural India, and there is a need for sustainable development that includes everyone. Anand Sri Ganesh, COO of NSRCEL IIM Bangalore, said in a statement, ‘With this programme, we are shifting our focus from founders who are based in cities to those who want to make a difference in rural India.’
The work of NSRCEL has helped more than 1,15,600 entrepreneurs. Now, through this partnership, top mentors from business, academia, the development sector, and the government will help these entrepreneurs. The ventures that made the shortlist will have a chance to pitch for incubation and grants.
It will also help people with important parts of being an entrepreneur, like how to keep the business stable, including production, marketing, and distribution, how to grow and improve the business model, and how to work with local governments.
The statement also said that the incubation programme will put extra effort into building trust with rural communities and working with them to create long-term jobs and ways to make a living.
Entrepreneurs in this programme come from a wide range of backgrounds. They include recent graduates from top universities and business people who want to move into the development sector.
Kalapuri/Nirvi Handicrafts, IVillage Social Solutions, Indian Yards, Kulture Stree, Ayang Trust, Bastar Se Bazar Tak, Karry Now, Mars Innovation – Growhitha, and Sahrudaya Foods are the nine rural businesses that will work with NSRCEL to help rural people make a living.