IIM Mumbai Launches AIC-NIFIE to Foster Innovation and Fuel Startup Growth

Mumbai, June 25 

The Indian Institute of Management (IIM) Mumbai took a significant step toward strengthening India’s entrepreneurial ecosystem with the official inauguration of the AIC-NITIE Incubation Foundation for Innovation and Entrepreneurship (AIC-NIFIE). The centre was launched by Dr. Jitendra Singh, Union Minister of State for the Ministry of Personnel, Public Grievances and Pensions, in a ceremony held at the institute.

Established under the Government of India’s Atal Innovation Mission, AIC-NIFIE aims to empower early-stage startups by providing them with critical resources such as mentorship, industry linkages, and research support. It is envisioned as a key enabler of innovation and self-reliance in line with the Atmanirbhar Bharat initiative.

A Launch Aligned with National Priorities

Addressing the gathering, Minister Jitendra Singh highlighted the crucial role of innovation in national progress:

“Innovation is the backbone of a developed India. Centres like AIC–NIFIE will be instrumental in translating India’s demographic dividend into tangible economic growth.”

He also delivered a talk as part of IIM Mumbai’s Leadership Series, titled:
“Viksit Bharat: India’s Startup Strides over the Last Decade and the Way Forward”, reflecting on the country’s startup journey and future outlook.

Focus Areas and Support Framework

The AIC-NIFIE incubation centre is structured to support startups in high-impact sectors, offering a comprehensive support ecosystem that includes:

• Mentorship and Advisory Services from experienced professionals and faculty
• Access to Industry Networks to facilitate collaboration and scaling
• Research and Innovation Support to help develop market-ready solutions

The centre will particularly focus on startups working in:

• Manufacturing and industrial innovation
• Supply chain and logistics
• Sustainability and green tech
• Digital transformation and emerging technologies

Leadership Speaks

Professor Manoj K. Tiwari, Director of IIM Mumbai, underscored the strategic importance of the centre in building a vibrant innovation culture within the institute:

“The launch of AIC-NIFIE is a step towards building a dynamic innovation ecosystem. It aligns with our mission to create impact through thought leadership, research, and entrepreneurship.”

He added that the centre would play a pivotal role in helping young entrepreneurs convert bold ideas into scalable, sustainable businesses.

Part of a Broader Innovation Agenda

The inauguration of AIC-NIFIE adds momentum to IIM Mumbai’s ongoing efforts to contribute to national development through innovation. The institute has already demonstrated significant entrepreneurial progress:

• Successfully launched 14 startups to date
• Hosts the Centre of Excellence in Logistics and Supply Chain Management under the PM Gati Shakti National Master Plan
• Actively supports initiatives aligned with national missions and digital transformation

Commitment to Holistic Development

Beyond academics and entrepreneurship, IIM Mumbai also fosters well-being and community engagement. Most recently, the institute celebrated International Yoga Day in collaboration with Kaivalyadhama, with enthusiastic participation from students, faculty, and staff.

This holistic approach to development; blending innovation, research, and wellness; reinforces IIM Mumbai’s growing role as a hub of excellence.