GIM planning incubation hubs in other states: Director

Panaji: Encouraged by the success of its Atal Incubation Centre, Goa Institute of Management (GIM) is now planning to take the initiative beyond the state’s borders. Speaking to TOI, GIM director Ajit Parulekar said that the premier B-school aims to set up AIC-GIM hubs in other parts of the country soon.

The school is also working on setting up a good angel network in Goa to support the startup ecosystem.

“The medium-term goal for us is to expand. We need not have AIC-GIM operating only in Goa, we can have it operating in many other states,” said Parulekar. “AIC-GIM as an organisation will benefit from having its hubs in other locations.”

GIM was among the first 13 premier institutions selected by the Niti Aayog to partner with the Atal Innovation Mission to set up incubation centres for startups. Set up in 2018, AIC-GIM has supported over 100 startups from across the country through hackathons, entrepreneurship programmes for women, investment pitches, and tie-ups with industry players. AIC-GIM partnered with the Kamaxi Group to create ‘Fierce Kitchens’, which serves as an incubation programme for food and beverage startups.

“We are currently in conversation about setting up Fierce Kitchens in other parts of the country. We will be able to reach out to more people, which is the ultimate goal,” said Parulekar.

AIC-GIM incubated startups have raised over Rs 30 crore in various investment rounds. It is one of the few incubators in the country that received seed and growth funds from three different Central departments.

Around 50% of the startups incubated by AIC-GIM are based in Goa, a number that needs to increase, said Parulekar.

“We need more successful entrepreneurs emerging in the state, which will only then trigger more curiosity and passion in the current generation. Goa has the drive, it lacks the infrastructure in some areas, which we are striving to fill. We need more unicorns coming out of Goa,” said Parulekar.

AIC-GIM incubated startups have raised over Rs 30 crore in various investment rounds. It is one of the few incubators in the country that received seed and growth funds from three different central departments