IDFC First Bank, IIMCIP launch ₹2 crore startup incubation initiative

IDFC First Bank has partnered with the IIM Calcutta Innovation Park (IIMCIP) to launch a pan-India programme aimed at nurturing enterprises working on sustainable business solutions, officials said on Monday.

The 'IGNITE' programme will provide total financial and operational support of ₹2 crore, including a direct startup grant corpus of ₹1.36 crore, they said.

It aims to help early-stage ventures strengthen their business models, expand market reach, and deliver measurable environmental and social outcomes, according to an official statement.

Under the programme, 16 startups from across the country will be selected through a competitive evaluation process, it said.

The focus areas include green manufacturing, waste recycling and upcycling, cleantech, renewable energy, water management, environmental technologies, and the sustainable use of indigenous resources.

 

The selected startups will undergo a structured incubation journey comprising business diagnostics, expert mentoring, intensive bootcamps, networking opportunities, and industry ecosystem access, the release said.

The top-performing enterprises will also receive performance-linked grant support to scale up their operations, it said.

The initiative seeks to accelerate the commercial scale-up of 16 sustainable solutions, promote landfill waste diversion through circular economy models, enhance operational capabilities, and drive revenue growth for participating firms while creating local employment opportunities, it added.