IIM Calcutta Innovation Park (IIMCIP) is a Section 8 company established under the aegis of the Indian Institute of Management Calcutta (IIM Calcutta), with a mission to promote entrepreneurship and nurture innovation-driven enterprises across India.

Recognised as one of India’s leading business incubators, IIMCIP supports impact-driven startups and has carved a niche for facilitating a holistic development of the entrepreneurship ecosystem.

Over the years, IIMCIP has successfully implemented CSR-led incubation programmes in collaboration with reputed organisations such as Tata Sons, HDFC Bank Parivartan, Pernod Ricard India Foundation, Titan, ANDE, Omidyar Network and Balmer Lawrie, among others.

Through initiatives like the DICV–IIMCIP Social Impact Incubation Programme, IIMCIP continues its commitment to driving innovation for nation-building, empowering entrepreneurs who are shaping the vision of a Viksit Bharat @2047.

Incubation is a process through which an entrepreneur or organisation receives structured support to develop and grow a new business idea. It typically offers access to mentorship, management training, funding opportunities and access to crucial networks and resources, helping startups navigate their early stages. An incubation programme creates an enabling ecosystem that nurtures innovative concepts and transforms them into viable, market-ready enterprises.

An entity shall be recognised as a Startup if:

• It has been in existence for not more than ten years from the date of its incorporation or registration, and is incorporated in India as a Private Limited Company (under the Companies Act, 2013), a Registered Partnership Firm (under Section 59 of the Partnership Act, 1932), or a Limited Liability Partnership (LLP) (under the Limited Liability Partnership Act, 2008).
• Its annual turnover has not exceeded ₹100 crore in any financial year since incorporation or registration.
• It is engaged in innovation, development, or improvement of products, processes, or services, or operates a scalable business model with strong potential for employment generation or wealth creation.

A social enterprise applies innovative, market-driven solutions to address social, economic or environmental challenges. Unlike traditional businesses that focus solely on profit, these startups aim to achieve a balance between financial sustainability and measurable social good.

In essence, a social impact startup turns entrepreneurship into a force for inclusive and equitable development, aligning business success with societal progress and the UN Sustainable Development Goals (SDGs).

A business idea is a commercially viable concept that revolves around a product or service designed to generate revenue through a practical and sustainable business model.

Key characteristics of a strong and unique business idea include:

• Fulfilling customer needs effectively
• Introducing innovation and addressing existing market gaps
• Offering distinct features and an appeal that sets it apart
• Maintaining a clear focus and strategic direction
• Ensuring long-term profitability and scalability

Innovation refers to the process of enhancing existing products or services by improving the design, production, delivery or usability, often through the application of technology. It focuses on increasing efficiency, effectiveness and overall value for users.

For instance, mobile app services represent an innovation that made it possible to access and deliver products or services that were once limited to computer-based platforms.

Products and services that already exist in the market can be enhanced and differentiated in multiple ways to stand out from competitors. Such differentiation often comes through improvements in quality, service experience, and standardisation. For example, technological interventions revolutionised railway, bus, and hotel bookings by making them faster and more accessible. Similarly, modern milk packaging improved convenience, handling and shelf life, allowing sales at any time of the day.

A sustainable business generates sufficient profits to cover its operational costs while achieving consistent year-on-year growth. Its products or services continue to remain relevant and valuable to customers, ensuring sustained demand and long-term viability in the market.