Chandragupt Institute and Venture Catalysts to support startups in Bihar

Patna (India CSR): Chandragupt Institute of Management Patna (CIMP) and CIMP-BIIF – Business Incubation and Innovation Foundation signed two separate Memorandum Of Understanding (MoU) with Venture Catalysts Pvt. Ltd. for co-incubation services, scaling opportunities and providing sector-specific mentoring support to startups.

On this occasion, MoU partner, Ravi Ranjan, Chief of Events & Partnership was present as a special guest and shared the dais with CIMP’s Director Prof. Dr. Rana Singh, CIMP-BIIF’s CEO, Kumod Kumar and Nodal officer, Prof. Rajeev Verma.

While addressing the event, Prof. Rajeev Verma, Nodal Officer Startup Bihar, CIMP, discussed the inception and growth of CIMP-BIIF as an incubation centre that has incubated 42 startups to date and told that 15 new projects are lined up in the new financial year. He talked about the need to develop a unified ecosystem for entrepreneurship and the strategic importance of this MoU with Venture Catalysts.

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Ravi Ranjan talked about the immense opportunity to promote the startup ecosystem in Bihar. He highlighted the need to organize more hackathons and open innovation fairs to provide opportunities for the startups to pitch their ideas and get market access.

He said Bihar can become a hub of food processing startups as well as dairy and agro-based startups. There is a need to create a unified entrepreneurial ecosystem in Bihar to nurture grass route innovations and create access and linkage between the entrepreneurs and technology.

He also stressed the need to promote entrepreneurship through education, training and institutional strengthening and identifying policy gaps and proposing solutions for the same.

At the end of the event, Kumod Kumar, CEO of CIMP-BIIF, called this MoU signing a great leap forward as an incubation centre in Bihar.

Also Read: CIMP Patna organises training under Chief Minister’s SC, ST, EBC, Women and Yuva Entrepreneurship Scheme