“To develop an ecosystem that kindles, fosters, and fuels 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”.
AIC Nitte Incubation Centre is a Not for Profit Company registered under section 8 of the Companies Act, promoted jointly by Nitte Education Trust and NITI Aayog under the Atal Innovation Mission (AIM) of GOI. AIC Nitte aims to accelerate the entrepreneurial vision of the nation by fostering a start-up ecosystem that converts ideas into successful businesses led by capable and ambitious business leaders. The Centre accomplishes this vision by providing start-ups with valuable expertise and guidance, technological assistance, access to investors, access to markets, networks and industry connections, along with a whole host of other services.
Start-ups also receive direction through the robust chain of Mentors who give sector-specific information and real-time practical guidance. The Incubation Centre has ready-to-use 20,000 sq.ft space for incubation facilities comprising Training, Conferencing, Co-working space and Product Development in which budding entrepreneurs who want to create start-ups in the areas of HealthCare, Agriculture, Biotechnology and IT could be enrolled as incubate to nurture their dreams.
Incubation Support: AIC Nitte provides expert advice to start-up teams who wish to convert their business ideas into viable commercial ventures. Support is offered through established and highly structured cohorts – each cohort runs for a maximum of 52 weeks.
Financial Support: AIC Nitte is amongst a few reputed incubators chosen by the Government of India to disburse seed funding to start-ups under the ‘Start-up India Seed Fund Scheme’. AIC Nitte has disbursed funds in excess of Rs. 470+ Lacs to eligible start-ups through this scheme. The Centre channelises funds provided by various Government bodies, including the ‘Start-up India Seed Fund’. Introductions are also made to financial institutions, angel investors and venture capitalists; AIC Nitte liaisons with all of these institutions on behalf of its start-ups. The Incubated Startups raised funds up to the tune of Rs. 735+ lacs.
Mentoring Support: Mentoring is provided in market research, strategy, operations, technology, marketing, sales, finance, funding, human capital, risk, legal and taxation. Relevant industry-specific mentors also provide industry-specific mentorship. A host of corporate and academic partnerships foster collaboration between start-ups and their relevant stakeholders.
Access to Markets: AIC Nitte offers its start-ups support in accessing their target markets. Mentors, alumni of the Nitte Universe, industry and corporate connect – all help in fostering this access. Specific training is provided on marketing (including digital marketing) and sales; goals are: market access, market penetration, strategic partnerships, increased profitability and business expansion.
Product Development Labs: AIC Nitte is equipped with a number of product development laboratories that aid the design and development of new products. Current facilities include a soil testing lab, a Bloomberg finance lab, a material testing lab, a bio-chemistry lab, an information technology lab, a product testing lab and fabrication laboratories.
Infrastructure and Office Support: During the pre-incubation and incubation stages, start-ups at AIC Nitte have access to: (1) Specialised laboratories and infrastructure; (2) Furnished office spaces; (3) Meeting rooms and conference rooms; (4) Event spaces and collaboration spaces; (5) Computing and communication facilities; (6) Power backup; (7) High-speed internet connectivity; (8) 24×7 security; (9) Office assistance facilities; (10) Functional Kitchen; (11)HouseKeeping and (12) a number of health, fitness and wellness related infrastructure, amenities and services.
Awards and Recognition: AIC Nitte was awarded ‘Best QA Incubator of the Year – 2021’ at ‘World Quality Summit 2021’ hosted by Asia Inc. 500. World Quality Summit is a platform to share insights, discuss cutting-edge trends, generate innovative ideas and find solutions to challenges within the Quality Assurance (QA) space. The awards recognise organisations that focus on quality assurance to drive digital transformation.