The Indian Institute of Management Mumbai (IIM Mumbai) took a major step toward strengthening India’s innovation ecosystem with the launch of the AIC-NITIE Incubation Foundation for Innovation and Entrepreneurship (AIC–NIFIE). The new centre was officially inaugurated by Dr. Jitendra Singh, Union Minister of State (Independent Charge), during his visit to the institute.
This new initiative is part of the Atal Innovation Mission and is designed to act as a launchpad for innovation, entrepreneurship, and early-stage startup growth. It aims to provide a comprehensive ecosystem offering incubation support, mentorship, academic collaboration, and industrial partnerships, especially in key sectors such as manufacturing, supply chain, sustainability, and digital transformation.
The inauguration ceremony also featured a keynote address by Dr. Jitendra Singh as part of IIM Mumbai’s Leadership Series, where he spoke on the theme “Viksit Bharat: India’s Startup Strides over the Last Decade and the Way Forward.” He underlined the crucial role of educational institutions in fostering innovation and entrepreneurship, saying, “India’s journey towards becoming a developed nation rests significantly on innovation. Centres like AIC–NIFIE will harness the energy and talent of young minds, connecting policy frameworks with entrepreneurial execution.”
Highlighting the importance of the centre, Prof. Manoj K. Tiwari, Director of IIM Mumbai, remarked, “The AIC–NIFIE launch represents a strategic push toward establishing a robust innovation-driven culture at IIM Mumbai. It reflects our broader mission to contribute to national progress through research excellence, entrepreneurial thinking, and impactful leadership.”
The incubation foundation is expected to play a pivotal role in accelerating India’s movement toward Atmanirbhar Bharat (self-reliant India), aligning with national objectives to build indigenous capabilities and promote startup-driven economic growth.
As of now, the centre has already supported the launch of 14 startups, with plans to scale this number through structured programs, access to industry networks, and active collaboration with academic and research institutions. With AIC–NIFIE, IIM Mumbai reiterates its dedication to fostering an innovation-first mindset and nurturing future-ready enterprises that can drive India’s development story forward.
