Entrepreneurship Development Institute of India (EDII) has announced its plans to incubate 50 startups in the next five years. The startups will be supported under its technology based incubator, ‘Centre for Advancing & Launching Enterprises’ (CrAdLE).
The startups from sectors such as manufacturing, food/agri business, renewable energy and healthcare, can benefit from the program.
Dr. Sunil Shukla, Director of EDII said, “With EDII’s experience of over three decades in the field of various facets of entrepreneurship education and consultancy, our new incubator CrAdLE will foster knowledge-based startups by nurturing them at an early stage. EDII’s incubator aims to encourage new venture creation in the country and bridge the communication gap among academia, financial institutions and industry. CrAdLE’s aim is to nurture at least 50 startups over the next five years and generate a few thousand direct and indirect jobs.”
CrAdLE is led by S Gopalakrishnan, co-founder of Infosys.
Commenting on the development, he said, “Technology Business Incubators are need of the hour to facilitate rapidly evolving startup ecosystem in the country. We are also going to encourage student entrepreneurship for students who wish to start their ventures while studying.”
The startups will be provided with physical working space along with mentoring by technology, law, marketing, taxation, finance and other experts to scale up their operations, accelerate their growth and reduce probability of failure.
EDII’s incubator will also facilitate speedy commercialisation of technologies developed in academic and R&D institutions. This aims to create a robust network for better and faster enterprise growth.
EDII is an autonomous and not-for-profit institute, set up in 1983, and is sponsored by financial institutions – the IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd. and the State Bank of India (SBI). Its focus areas are Entrepreneurship, Education & Research; Micro Enterprises, Micro Finance and Sustainable Livelihood; SMEs & Business Development Services; Cluster Competitiveness, Growth & Technology; Social Entrepreneurship & CSR; and Women Entrepreneurship & Gender Studies.
EDII has helped set up twelve state-level exclusive entrepreneurship development centres and institutes. It has also set up Entrepreneurship Development Centre at Cambodia, Laos, Myanmar and Vietnam and is in the process of setting up such centres at Uzbekistan and five African countries.