The Indian Institute of Management Kozhikode (IIMK) has launched IIMK LIVE, a business incubator and entrepreneurship development centre for which the Department of Science and Technology (DST) has sanctioned a grant of Rs 3 crore.
IIMK had submitted the proposal for IIMK LIVE (Laboratory for Innovation, Venturing and Entrepreneurship) to the Union government in 2016. LIVE has initially offered the facility to 12 start-ups that include 5 proposals from the Institute alumni. Though spread across a range of sectors, most of them are based on digital technology.
“Over the last two decades, IIM Kozhikode has always taken initiatives that contribute to national development goals and LIVE is in response to the Prime Minister’s call, ‘Startup India, Standup India’.
While the IIM has made available required space and facilities on campus and is developing a series of programs and products to ensure the long-term sustainability of LIVE, as a government recognised on-campus incubator, DST would continue supporting it in various ways, IIMK said in a press release.
“Over the last two decades, IIM Kozhikode has always taken initiatives that contribute to national development goals and LIVE is in response to the Prime Minister’s call, ‘Startup India, Standup India’. LIVE seeks to emerge as a national centre of excellence in promoting innovation, new business ventures and entrepreneurship among student community on campus as well as the greater community,” Kulbhooshan Balooni, director in-charge of IIMK, said.
He expressed the hope that LIVE would gain immensely from the faculty members, knowledge base, students, alumni, international linkages and other institutional networks of IIM Kozhikode and in turn contribute to the Institute’s various programmes and activities,” he added.
ALSO READ: IIM Visakhapatnam Final Placements: Average Salary at Rs. 11.59 Lakh
The incubator facility would support start-ups not just founded by IIMK students or alumni but also anyone who comes up with an innovative idea that is believed to have commercial potential, Dr Keyoor Purani, Executive Director, IIMK LIVE and professor of marketing said.
“IIMs and other B-schools have job placements deeply entrenched in many of their programs as traditionally that has been the sole career track MBAs looked for. Over the years, newer models would evolve that would facilitate entrepreneurial risk taking by MBA students despite the burden of educational loans. We are working towards that but as of now I am happy with the response,” he added.
