Kozhikode: The Indian Institute of Management- Kozhikode will launch its Laboratory for Innovation, Venturing and Entrepreneurship (LIVE), a business incubator, by the end of this month. As part of the start- up India plan, the Union Ministry of Science and Technology has sanctioned Rs 3 crore for the incubator. The institution has already hatched the first five set of new enterprises and will prepare them in the next three months to operate their start-ups from the incubation centre. Nearly 25 start-ups will be promoted in the initial months and more later.
Mr Keyoor Purani, chairperson of Technology Business Incubator of IIMK, said “our mission is to provide the knowledge and proficiency of IIM-K to help start-ups to overcome their slip-ups. We will help the young entrepreneurs in mentoring, training and sharing of best practices,” he said. He stressed the importance of channelling remittances into entrepreneurial ventures so that Kerala can transform itself from a consumer state to a production economy. In this, the LIVE will play a significant role, he Purani pointed out. “In addition to the services of the IIM-K faculty, we will also have a network of mentors from the industry and also credible investors. We need the ability to transform ideas into reality,” he added.