Sambalpur, Nov 29: Indian Institute of Management (IIM) Sambalpur marked the Foundation Day of its Innovation and Incubation Hub (I-Hub) alongside the institute’s Innovation and Entrepreneurship Summit, NAVYUG 2.0.
The event, themed “Made in Bharat: Local Roots, Global Routes,” highlighted the institute’s commitment to nurturing grassroots innovators who are shaping India’s entrepreneurial landscape from small towns and rural communities.
With a focus on impactful entrepreneurship, I-Hub showcased start-ups addressing societal challengesfrom autism childcare to tribal livelihoods, sustainable fashion to urban mobility solutions, and digital platforms enabling small businesses to thrive. These initiatives highlight how local solutions, rooted in India’s culture and communities, can achieve global relevance.
IIM Sambalpur has strengthened its regional outreach by signing co-incubation agreements with Sambalpur University and Veer Surendra Sai University of Technology (VSSUT), promoting collaboration and creating a robust ecosystem for grassroots innovation. At this event, the first cohort of incubates was facilitated, while the second cohort was welcomed, reflecting the hub’s role in empowering local entrepreneurs.
Speaking on the occasion, Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, said, “A nation’s growth depends on research, innovation, and entrepreneurship. Start-ups not only contribute to the economy but also transform mindsets, promoting solution-oriented thinking. IIM Sambalpur is committed to nurturing ventures that tackle real-world challenges, particularly those impacting local communities.”
RanjuSigtia, National Product Head – Start-up Ecosystem, ICICI Bank, encouraged students, “Engage with the ecosystem, learn from those who have walked the path, and use every opportunity to create meaningful impact.”
Shivtosh Kumar, Co-Founder, Sugar.fit, inspired budding entrepreneurs, saying, “True entrepreneurship is not about launching a product, but being obsessed with creating solutions that genuinely help society. Before you build, ask yourself, does the market need it, will it help people, and is it sustainable?”
Highlighting the importance of strategy and scalability, Rajat Chawla, AVP Finance, YourNest Venture Capital, remarked, “Understanding venture capital and strategically aligning it with business models is crucial. I hope that within the next decade, the IIM Sambalpur community will be at the forefront of building products that achieve global recognition.”
Over the past year, I-Hub has hosted more than 80 mentorship sessions, 30 masterclasses, and supported 27 start-ups, including ventures promoting millet farming, reusable sanitary products for rural women, empowering master weavers, and providing autism childcare services. Through these initiatives, IIM Sambalpur is actively transforming the startup ecosystem at the grassroots level.
Talking about the future initiatives of I-Hub, Diwahar Sunder Nadar, Chairperson, Incubation, IIM Sambalpur, said, "I-Hub plans to launch a Business Clinic, a Women’s Incubation programme, and a dedicated Masterpiece Incubation programme, among several other initiatives to empower grassroots innovators and startups.”
Under its flagship mission “100 Cube,” IIM Sambalpur aims to support 100 start-ups with ₹100 crore valuations by 2036, prioritizing ventures that uplift local livelihoods, particularly in Sambalpuri textiles, tribal entrepreneurship, agrotssech, and women-led enterprises. By combining innovation, integrity, and inclusiveness, IIM Sambalpur is cultivating responsible leaders and enabling grassroots solutions to scale nationally and globally, contributing to the vision of Viksit Bharat 2047.
