Kolkata: IDFC FIRST Bank, has partnered with IIM Calcutta Innovation Park (IIMCIP) under IGNITE, a startup incubation program of FIRST IMPACT, to launch a Pan-India Incubation Program for Sustainable Business Solutions, aimed at nurturing and scaling innovative startups addressing critical environmental and sustainability challenges. The initiative will provide a total support of Rs 2 crore, including a startup grant corpus of Rs 1.36 crore, to help emerging enterprises strengthen their business models, expand market reach, and create measurable environmental and social impact.
The program will focus on startups working in areas such as green manufacturing, recycling and upcycling of waste, cleantech solutions, renewable energy, water and wastewater management, environmental technologies, and sustainable use of local and indigenous resources.
Through a structured incubation journey, 16 startups from across the country will be selected and provided with business diagnostics, mentoring, bootcamps, expert guidance, networking opportunities, and access to ecosystem stakeholders. Following a competitive evaluation process, the top-performing startups will receive performance-linked grant support to accelerate their growth and scale.
The initiative seeks to address some of India’s most pressing sustainability challenges by supporting entrepreneurs developing innovative solutions that promote resource efficiency, waste reduction, climate resilience, and sustainable livelihoods.
Expected Outcomes
The program aims to:
● Facilitate scale-up of 16 environmentally sustainable products or services.
● Enable diversion of waste from landfills through recycling, upcycling, composting, and circular economy solutions.
● Improve business capabilities and operational readiness of participating enterprises.
● Contribute to livelihood creation through employment growth within incubated startups.
● Enable revenue growth and market expansion for participating enterprises.
● Strengthen India’s sustainability ecosystem through innovation-led entrepreneurship.
Saptarshi Bapari, Head – Investor Relations and ESG – IDFC First Bank said, “At IDFC FIRST Bank, we believe that entrepreneurs can play an important role in addressing some of our country’s most pressing challenges. Through IGNITE, we have been supporting impact-driven startups over the last two years. We are pleased to partner with IIM Calcutta Innovation Park as we expand the program’s reach to entrepreneurs working in areas such as waste management, circular economy, resource efficiency, and clean technology. We look forward to supporting the next generation of founders as they build and grow their businesses.”
Ajay Jain, Chairman, IIM Calcutta Innovation Park Board, said, “IIM Calcutta Innovation Park has always stood steadfast with entrepreneurs and go-getters who leverage innovation as a means to address real world challenges. We are enthused to partner with IDFC FIRST Bank, in enabling impact-first startups with innovative solutions in sustainability, circular economy and resource efficiency. By providing such founders with the right mentorship, market access and ecosystem support, we hope to accelerate innovations and create commercially sustainable enterprises that contribute to a sustainable future for India.”
