In a landmark move to accelerate India’s green innovation ecosystem, the IIM-Calcutta Innovation Park (IIMCIP) has launched a ₹50 crore fund dedicated to supporting early-stage startups focused on cleantech and sustainability. The fund, announced on Tuesday, will be deployed over the next 12 to 18 months and aims to catalyze ventures in clean energy, climate resilience, sustainable agriculture, and waste-to-value solutions.
This initiative marks a strategic pivot in India’s startup landscape, where environmental impact and scalable innovation are increasingly converging. The fund is not just about capital—it’s about building a full-stack ecosystem that includes mentorship, market access, and partnerships with corporates and governments, according to IIMCIP Chairman Ajay Jain.
“The next major wave of innovation in India will come from cleantech and sustainability. For us, success is not just about creating unicorns, but about transforming lives and communities,” Jain said during the launch event.
Mission 2047: A Vision for Impact
Alongside the fund, IIMCIP unveiled its ambitious ‘Mission 2047’, which aspires to impact one billion lives by the year 2047—India’s centenary of independence. The roadmap includes scaling women and rural entrepreneurship programs, building innovation ecosystems in underserved regions such as the East and Northeast, and mobilizing larger investment pools through CSR, philanthropy, and institutional capital.
This mission reflects a broader commitment to inclusive innovation, where technology serves not just markets but communities. It also aligns with India’s national goals on climate action, sustainable development, and equitable growth.
A Decade of Building Startups with Purpose
Since its inception in 2014, IIMCIP has emerged as a leading incubator and accelerator for impact-driven startups. Over the past decade, it has:
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Mentored over 2,000 startups
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Seed-funded more than 130 ventures
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Enabled over ₹2,000 crore in follow-on investments
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Built a portfolio valued at over ₹8,000 crore
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Created more than 35,000 jobs
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Touched the lives of over 9.5 million people
Notable success stories include Dehaat, a tech-enabled agri-services platform, and 5C Network, a medical AI startup revolutionizing radiology diagnostics. These ventures exemplify how innovation can drive both profitability and social impact.
“This fund is a natural next step in our journey. We’ve seen firsthand how targeted support can unlock massive potential in underserved sectors,” said Subhrangshu Sanyal, CEO of IIMCIP.
Why Cleantech and Sustainability Now?
The timing of this fund is no coincidence. India is facing mounting environmental challenges—from air pollution and water scarcity to waste management and climate vulnerability. At the same time, the country is witnessing a surge in green entrepreneurship, with startups developing solutions in solar energy, electric mobility, circular economy, and regenerative agriculture.
However, many of these ventures struggle to access early-stage capital and strategic guidance. IIMCIP’s fund aims to bridge this gap, offering not just financial backing but also a robust support system to help startups scale responsibly.
The fund will prioritize startups that demonstrate scalable impact, technological innovation, and alignment with UN Sustainable Development Goals (SDGs). It will also encourage cross-sector collaboration, bringing together academia, industry, and government to co-create solutions.
Looking Ahead
With this ₹50 crore fund, IIM-Calcutta Innovation Park is not just investing in startups—it’s investing in India’s future. By nurturing cleantech and sustainability ventures, it hopes to build a resilient economy that thrives on innovation and inclusivity.
The initiative is expected to attract additional funding from institutional investors, CSR arms of major corporations, and philanthropic foundations. It also sets a precedent for other academic incubators to align their innovation agendas with climate and sustainability goals.
Sources: The Hindu Business Line, IIM-Calcutta:, Outlook Business
