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

The Indian Institute of Management (IIM) Mumbai has officially inaugurated the AIC-NITIE Incubation Foundation for Innovation and Entrepreneurship (AIC-NIFIE), a startup incubation center established under the Atal Innovation Mission. This initiative, launched by Union Minister Dr. Jitendra Singh, aims to provide support to early-stage startups through comprehensive mentorship, strategic industry connections, and research-driven innovation. AIC-NIFIE focuses on critical sectors, including manufacturing, sustainability, and digital transformation, and is aligned with the Atmanirbhar Bharat mission. This endeavor reinforces IIM Mumbai's broader commitment to promoting entrepreneurship, facilitating national development, and advancing a holistic educational framework.

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.