IIM Mumbai launches AIC-NIFIE incubation centre for startups, inaugurated by Union Minister Jitendra Singh

Indian Institute of Management (IIM) Mumbai inaugurates AIC-NITIE Incubation Foundation for Innovation and Entrepreneurship (AIC-NIFIE) incubation centre for startups. The centre was inaugurated by Union Minister of State, Ministry of Personnel, Public Grievances and Pensions, Jitendra Singh.

AIC-NIFIE, established under the Atal Innovation Mission, is designed to incubate startups through mentorship, industry linkages and research and technology. The centre will guide startups on manufacturing, supply chain, sustainability, and digital transformation.

“Innovation is the backbone of a developed India. Centres like AIC–NIFIE will be instrumental in translating India’s demographic dividend into tangible economic growth,” Singh remarked during the ceremony.

Business incubator at IIM Mumbai

According to an official press statement, the AIC-NIFIE centre will be a “transformative platform to catalyse innovation, support early-stage startups, and foster a self-reliant India under the national mission of Atmanirbhar Bharat”.

IIM Mumbai director, Manoj K Tiwari, noted that, “The launch of AIC–NIFIE is a step towards building a dynamic innovation ecosystem within the institute. It aligns with our mission to create impact through thought leadership, research, and entrepreneurship.”

Singh’s visit to IIM Mumbai also included his address to a gathering at the institute’s ‘Leadership Series’ on the topic, “Viksit Bharat: India’s Startup Strides over the Last Decade and the Way Forward”.

IIM Mumbai has launched 14 startups as of yet. Under the PM Gati Shakti National Master Plan, IIM Mumbai hosts a centre of excellence in logistics and supply chain management. The institute recently celebrated International Yoga Day on campus, with the support of Kaivalyadhama. Students, teachers, officers, and staff members took part in the event.