AIC Nitte Incubation Centre is a Not-for-Profit Organization registered under section 8 of the Companies Act, promoted jointly by Nitte Education Trust and NITI Aayog under the Atal Innovation Mission (AIM) of the GOI. AIC Nitte commenced its operations in June 2020 and is working towards promoting an Enterprising Society and Technology based Startup ecosystem by engaging with youth, faculty members of Higher Education Institutions, NGO personnel, Decision Makers at the Government level, Rural Women, and Existing Entrepreneurs. AIC Nitte Incubation Centre offers start-ups with valuable guidance, technological assistance, access to funding, investors connect, networking, and facilitating a host of other services. Start-ups also receive direction through the robust chain of Mentors who give sector-specific expertise and real-time practical guidance. The Incubation Centre has ready-to-use 13,000 sq. ft space comprising product development facility, trainings, conference room and Co-working cabins in which budding entrepreneurs who want to create start-ups in the areas of Med-Tech, Agri-Tech, Bio-Tech and SaaS can enroll and nurture their innovative idea.
The Centre supports the existing MSMEs in the region through appropriate intervention strategies like training, consultancy & mentoring, business development, diversification, technology transfer & upgradation. The Ministry of MSME has approved the Centre as a technical agency to develop food processing clusters. AIC Nitte is implementing a jackfruit processing cluster at Nitte with the Ministry of MSME financial support of Rs 500 lacs.
AIC Nitte is the only Incubation Center recognised by the Govt. as a Resource center for forming and incubating Farmer Producer Organization(FPO’s) under the Center Scheme of 10,000 FPO’s. Currently, 10 Farmer Producer Companies(FPO’s) with a membership of 1000 farmers in each are created and set-up by AIC Nitte.
AIC Nitte has been ranked one of the Impactful Technology Business Incubators in India. As of now, The incubator has contributed sincerely for the nation by:
● Incubating 72 impactful startups working in the areas of IoT, Food Technology, Composite Materials, Healthcare, Renewable Energy, SaaS, Agri-Tech, Solid Waste Management and Biotechnology.
● Facilitated Fund Raising to the Incubated Startups up to the tune of Rs.270 Lakhs.
● Supported the Startups with its state-of-the-art facilities related to Product Development, Product Testing, Mentoring support, Networking support, and Investors Connect. AIC NITTE has invested more than Rs.10 Crores in pieces of establishment for equipment and technology for Fablab, and Product Development facilities.
● Supported Technology Transfers to incubated Startups and few regional MSME’s .
● Has engaged with 20+ academic Partners across Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Kerala and Maharashtra, to support them to build a sustainable entrepreneurship ecosystem in their campuses.
● Conducted several programs to develop rural Entrepreneurs and promote Farmer Producer Organizations(FPO’s).
“To develop an ecosystem that kindles, fuels, and fosters the entrepreneurial spirit enabling high impact ventures”.
“To enhance the innovation and entrepreneurship opportunities among aspiring individuals to create employment opportunities, build impactful and self-sustainable startups”.