AIC-NIFIE at IIM Mumbai aims to nurture startups, boost innovation, and drive Atmanirbhar Bharat with support from the Atal Innovation Mission
On June 24, 2025, a major milestone was reached in India’s startup and innovation journey with the inauguration of the AIC-NIFIE (Atal Innovation Centre – NITIE Incubation Foundation for Innovation and Entrepreneurship) at IIM Mumbai. The event was graced by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, who addressed the gathering during a leadership session titled “Viksit Bharat: India’s Startup Strides over the Last Decade and the Way Forward.”
The new incubation center is a joint initiative of the Atal Innovation Mission (AIM) and NITIE, which has been recently rebranded as IIM Mumbai. The center is set to play a pivotal role in nurturing early-stage startups, encouraging entrepreneurship, and contributing to India’s vision of becoming an innovation-driven, self-reliant economy under the banner of Atmanirbhar Bharat.
Innovation at the Core of Nation Building
In his keynote address, Dr. Singh emphasized the transformational progress India has made in the field of science and technology over the past 11 years. He credited this progress as the backbone of India’s rising global stature and rapid economic development.
“The technology ecosystem has evolved significantly, and our startups are no longer just local ventures—they are globally recognized problem solvers,” Dr. Singh said. “Centers like AIC-NIFIE are vital to carrying this momentum forward by offering real-time support to innovators.”
He stressed that innovation is not just about big ideas but about building a culture of problem-solving, backed by academic excellence, industry collaboration, and policy support.
What AIC-NIFIE Offers to Aspiring Entrepreneurs
AIC-NIFIE aims to be a launchpad for startups, providing an end-to-end support system from ideation to commercialization. Key features of the center include:
- Access to modern co-working spaces and tech-enabled labs
- Expert mentorship from leading entrepreneurs, industry veterans, and academicians
- Exposure to investor networks and government funding schemes
- Industry-academia linkages to refine product-market fit and scale effectively
Importantly, the incubator is geared to support high-potential sectors such as clean energy, deep technology, biotechnology, agri-tech, and AI/ML applications, aligning with India’s sustainable development and technical sovereignty goals.
The initiative places a strong focus on inclusive innovation, seeking to support entrepreneurs from diverse socioeconomic backgrounds, thereby expanding the reach and impact of India’s growing startup movement.
Strengthening India’s Global Position as a Startup Powerhouse
India has emerged as the third-largest startup ecosystem globally, with over 1 lakh registered startups and more than 100 unicorns. According to PIB data, this growth has been fueled by a combination of policy support, grassroots innovation, and digital penetration.
Dr. Singh noted that the government’s flagship schemes such as Startup India, Digital India, PM Gati Shakti, and National Research Foundation (NRF) are all part of a strategic push toward transforming India into a knowledge-based, innovation-led economy.
With the launch of AIC-NIFIE, IIM Mumbai joins a growing list of premier institutions that are actively contributing to this transformation, by going beyond classrooms to drive change at the entrepreneurial frontlines.
A Platform for Public-Private Collaboration
The event also served as a platform for highlighting how public-private partnerships (PPPs) have played a pivotal role in expanding India’s innovation footprint since 2014. Many speakers emphasized that the startup revolution is no longer confined to big cities—it is now taking root in Tier-2 and Tier-3 towns, thanks to such incubation centers.
Dr. Singh highlighted how incubators like AIC-NIFIE will continue to power “Viksit Bharat”, India’s mission to become a developed nation by 2047.
Looking Ahead: IIM Mumbai’s Expanding Role
Beyond academic excellence, IIM Mumbai is emerging as a national innovation hub. The institute’s proactive involvement in entrepreneurship, policy dialogues, and industrial collaboration signals a clear shift in how management schools contribute to nation-building.
With AIC-NIFIE now operational, IIM Mumbai is poised to mentor, fund, and scale the next wave of Indian startups that will create jobs, solve local problems, and lead the country into a future defined by resilience, sustainability, and self-reliance.
As Dr. Singh aptly concluded:
“Innovation is the soul of Viksit Bharat. And AIC-NIFIE is where the soul takes shape.”
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