BSE Institute sets up the new ‘Atal Incubation Center’ at Banaras Hindu University, Varanasi along with AIC, Niti Ayog
>>Inaugurated by Honorable PM Shri Narendra Modi, Atal Incubation Center is supported and designed by BSE Institute
BSE Institute Ltd (BIL) along with Atal Innovation mission grant has enabled setting up of ‘Atal Incubation Center- Mahamana Foundation for Innovation and Entrepreneurship’ at Banaras Hindu University, Varanasi. Inaugurated today by Honorable Prime Minister of India Shri Narendra Modi , the incubator has been inspired by his vision of a modern Innovative India, which is committed to the economic progress and social well being of every citizen across the length and breadth of the country. The objective of the incubator is to encourage young youth, especially women to set up enterprises which can develop unique solutions to real problems besides innovating and creating incremental jobs.
The incubator is set up across 10,000 sq ft of area inside the campus of BHU (Banaras Hindu University) and will be used as co working space for start ups, tinkering labs, Ideation centers, collaborative rooms and the training centre. The center also envisages having a panel of leaders as business mentors to guide and support the selected start-ups and helping them set up businesses. The incubator envisions helping entrepreneurs in multiple domains including eGov, social, water-tech, clean-tech, defense, financial inclusion amongst other areas.
BSE Institute ltd – a 100% owned subsidiary of BSE operates a successful incubator housed in the iconic building at Mumbai. This helps it bring best practices in operating a world class incubator which has helped over 180 companies start up, raise more than 40 million dollars and create 3000+ new jobs over the last few years. The incubator at BHU will be a first of its kind in the region and will focus in key domains critical to the local region. BSE Institute Ltd has also discussed with local UP state administration to seek problem statements related to citizen services, eGovprojects etc which new start ups could work on and provide possible solutions. BSE Institute specializes in Skills, Education and Innovation and this new incubator at BHU is a part of it’s larger strategy to help entrepreneurship and skill development for the sole purpose of inclusive economic growth and job creation.
BSE Institute has arranged for funding and has built out the space to create co working space for 100 startup founders, ideation space and administrative areas. Incubators usually offer physical infrastructure as co working space to start ups along with softer support in terms of mentorship, guidance on technology, legal, market access, global innovation, peer review, etc. Incubators also help new start ups to collaborate with others, help acquire pilot test implementations, pitch to potential investors and raise capital. BSE Institute is supporting BHU in all of these areas.
Funded by Atal Innovation mission grant and resources raised by BSE Institute Limited, the incubator draws its inspiration from the “Pancha Tatva” (five physical elements) namely – Bhumi, Jala, Vayu, Agni and Aakash in its design. Unique and the one of its kind in the country, it blends tradition with modern technology and weaves a story of curiosity, inspiration, co creation, and collaborativeness amongst all its startups participants.
On the occasion of the launch, Ambarish Datta, MD & CEO of BSE Institute Limited said, “This initiative is a key step towards the vision of the Hon. Prime Minister for inclusive and sustainable economic growth. Entrepreneurship is the need of the hour for development and also helps as a catalyst for job creation, a key bench mark for sustainable growth. This incubator helps in reaching out to tier 2 and 3 cities and help budding start ups to scale up businesses, raise funding, build prototypes and create new incremental jobs. Through this start up incubator we intend to empower entrepreneurs focussed on social innovations and inclusive businesses to come up with innovative business models that will impact the overall life of people living in the country. This incubator will also focus on socially impacting areas like eGov, social, watertech, clean tech, defence, financial inclusion amongst other areas. Technology has always defined the culture of civilizations. From the invention of the wheel to the 21st century marvels of information technology, our way of life is tied to innovation. Technology makes it possible for us to do much more than we could do without it, with AIC-Mahamana Foundation for Innovation & Entrepreneurship IM-BHU, we are certain to make the change we wish to see.”
Further, BSE Institute along with its start up accelerator has reached out to the entrepreneurship ecosystem across the country since 2nd week of August’2018 and invited applications for this program –QUEST, an accelerated bootcamp for startups willing to implement solutions in Varanasi, help them to enable market access in Mumbai, through a 2-week in-city program, followed by a 3-month virtual program. Under each cohort 10 startup teams will be provided a hands-on mentorship program for pursuing their ideas, and convert them into real businesses and/or enabling market access opportunities for startups with a prototype. The selected startups will learn about product innovation, UI/UX, Digital & mobile marketing, technology, growth hack, legal & financials, industry connects, raising investments and hear from successful entrepreneurs on how to build and scale a company. More than 80+ applications were received from startups across India, who have shown interest to participate at BHU. Selected applications are from entrepreneurs based in towns across UP and other metros including Delhi, Mumbai and Bangalore.