SBI Foundation and NSRCEL launch second iCube cohort to strengthen regional incubators

The Indian Institute of Management Bangalore's NSRCEL, in collaboration with SBI Foundation's Innovators for Bharat initiative, has commenced the second cohort of its Incubating Incubators (iCube) program. The initiative seeks to enhance the capabilities of regional incubators, foster best practices and generate lasting impact across innovation ecosystems.

Three incubators have been selected for the new cohort: AIC MAGIC, Incubation Centre, IIT Patna, and The Tripura Institution for Transformation (TIFT). These institutions represent diverse innovation ecosystems across India, joining NSRCEL's partnership ecosystem, which provides them with deeper engagement, specialized resources, and a broader network of mentors and experts.

The iCube program diverges from traditional incubation methods that concentrate solely on entrepreneurs. Instead, it targets the institutions that support startups, employing structured learning, peer-to-peer interactions, strategic mentoring, governance frameworks, and operational best practices to transform incubators into robust anchors for regional innovation.

The second cohort will build upon insights from the first cohort, prioritizing tailored approaches based on geographical location, governance structure, sectoral focus, and local entrepreneurial ecosystems. Participants will benefit from NSRCEL's incubation ecosystem, which includes access to over 110 mentors, industry connect programs, curated learning modules, institutional tools, strategic frameworks, and knowledge-sharing sessions.

Moreover, the program encourages collaboration among incubators, enabling them to exchange experiences and adapt successful models to their unique regional contexts, ultimately enhancing the resilience of support systems for founders. The iCube initiative aligns with broader efforts to bolster India's innovation ecosystem, as acknowledged by government entities like NITI Aayog, Atal Innovation Mission (AIM), the Department of Science and Technology (DST), and the Ministry of Electronics and Information Technology (MeitY).

AIM's Human Capability Development initiatives focus on strengthening incubator managers, ecosystem enablers, mentors, and innovation professionals. SBI Foundation's Subhadip Mondal emphasized the importance of empowering incubation centers to support entrepreneurs beyond metropolitan areas. NSRCEL's CEO, Rasika Prashant, highlighted the need to shift focus from merely increasing the number of incubators to creating robust incubators adapted to regional conditions.

Dr. Kumar Siddharth Singh, Chief Manager at BioNEST at Incubation Centre, IIT Patna, underscored the importance of continuous evolution for institutions and the value of iCube's opportunities for reflection, identifying gaps, and learning from experienced peers. By fortifying incubators, the iCube program aims to create a far-reaching impact across India's entrepreneurial landscape, leading to better-equipped institutions that can support more founders, foster stronger startups, generate quality employment, and contribute to thriving regional innovation ecosystems.