IIM-Sambalpur Secures $2 Million Investment for New Incubation Center

The Indian Institute of Management Sambalpur, also known as IIM Sambalpur, has secured a $2 million grant to establish an incubation center aimed at promoting startups and entrepreneurship. 

This funding has been provided by Sushant Kumar from ESKYEN Ventures. 

IIM Sambalpur recently celebrated its ninth foundation day with a focus on accelerating the startup ecosystem. 

During the celebration, Kumar emphasized the crucial role played by early investors like Ram Shriram, who was the initial investor in Google and supported Larry Page and Sergey Brin, even during the company's unprofitable years. 

Kumar mentioned that the implementation of the project will begin soon. Additionally, IIM Sambalpur has entered into an agreement with India Accelerator to enhance the entrepreneurial skills and capacity of the institute's incubator participants.

IIM-Sambalpur 

The ninth Foundation Day event at IIM Sambalpur featured an address by Dharmendra Pradhan, the Union Minister of Education, Skill Development, and Entrepreneurship. 

In his speech, Pradhan commended the institute for its collaborations and partnerships with organizations like India Accelerator, SIDBI, and Flipkart. 

He emphasized the significance of these partnerships in nurturing entrepreneurs and supporting local weavers and artisans. 

The education minister encouraged students to embrace the principles of innovation, inclusivity, and integrity, which are the guiding values of IIM Sambalpur, in all their endeavors.