Business Incubation Center

Odisha’s First Atal Incubation Centre launched at NIT, Bhubaneswar


Odisha welcomed its first Atal Incubation Centre (AIC), AIC – Nalanda Institute of Technology Foundation (AIC-NITF or AIC-Nalanda), at the Nalanda Institute of Technology (NIT) in Bhubaneswar, recently. Launched as a world-class incubation facility-center for promotion of entrepreneurial activities and innovation support, AIC-Nalanda is a Technology Business Incubator (TBI) under the aegis of Atal Innovation Mission (AIM), a flagship initiative of NITI Aayog, Government of India, to promote a culture of innovation and entrepreneurship within the region. AIC-Nalanda aims to be the first entrepreneurial hub of its kind in Odisha to nurture and support young potential talents of the state.

Left: AIC-Nalanda aims to be the first entrepreneurial hub of its kind in Odisha to nurture and support young potential talents of the state. Right: Vichaar 1.0 Business Plan Competition 2020 encourages students, innovators, entrepreneurs and startups across India to transform their unique and innovative ideas into effective business plans

Located in Chandaka, AIC-Nalanda offers a dedicated incubation space of approx. 10,000 sq. ft., with state-of-the-art co-working spaces, technical support, funding assistance, mentoring support, business validation, industry connect, legal, accounting and regulatory support, market connect, etc. to its incubatees. The TBI offers incubation to early-stage startups, product-ready innovators and scalable business models, with a dedicated core team to provide internal review, portfolio design and mentor-connect and investor access to realize their dream projects.

With its extensive in-house resources, infrastructure and academic-industry collaborations, AIC-Nalanda focuses on providing support to startups, innovators and entrepreneurs through:

  • Digital expertise: digital solutions for core industry-based startups working on IoT, AI and data analytics-based solutions.
  • Social-tech expertise: social enterprises technology-led startups in the field of education and agricultural machinery for small holding farmers.
  • Product development: for innovators and researchers who are interested for technology commercialization and working out business plan models.

Commenting on the occasion of the virtual launch of AIC-Nalanda, Mr. Malaya Kumar Padhi, Founder & Chairman, AIC-Nalanda, said, “Our state has great potential to lead the nation’s economy with its young talent and abundant resources. AIC-NITF is an initiative dedicated to the industrious youth of Odisha, who are deprived of opportunities and genuine support, in terms of mentoring or investment. Our aim is to create a platform, in-house, so that our future generations shall not have to leave the state in search of possibilities.”

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(Source: PRNewswire)

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