On May 12, Thursday, Chandragupt Institute of Management Patna (CIMP) and CIMP Business Incubation and Innovation Foundation (CIMP-BIIF) signed two separate Memorandum Of Understanding (MoU) with Venture Catalysts for co-incubation services, scaling opportunities and providing sector-specific mentoring support to start-ups.
On this occasion, MoU partner, Ravi Ranjan, Chief of Events and Partnership was present as a special guest and he 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 which has incubated 42 start-ups till date and informed that 15 new projects are lined up in the new financial year.
He spoke about the need to develop a unified ecosystem for entrepreneurship and the strategic importance of this MoU with Venture Catalysts.
Speaking during the event, Ravi Ranjan spoke about the immense opportunity to promote the start-up ecosystem in Bihar. He highlighted the need to organise more hackathons and open innovation fairs to provide opportunities for the start-ups to pitch their ideas and get market access. He said Bihar can become a hub of food processing start-ups as well as dairy and agro-based startups.
There is a need to create a unified entrepreneurial ecosystem in Bihar in order to nurture grass route innovations and create access and linkages between entrepreneurs and technology, he said and stressed the need to promote entrepreneurship through education, training and institutional strengthening, identifying policy gaps and proposing solutions for the same.
At the end of the event, Kumod Kumar, CEO of CIMP-BIIF, termed this MoU signing as a great leap forward for an incubation centre in Bihar.
