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IIMCIP & Dept. of Science & Technology (GoI) announce Smart Fifty initiative

September 21, 2017

Aligning with Government of India’s “Startup India” initiative and with the objective to promote socio-economic development driven by innovation and entrepreneurship, Indian Institute of Management Calcutta Innovation Park (IIMCIP) – which focuses on nurturing innovative startups across India – announced its major international initiative ‘Smart Fifty – 50 Solutions to Transform India’ on September 20. The initiative, planned in association with the Department of Science & Technology (DST), GoI, is aimed at identifying, recognising and rewarding aspiring and early-stage entrepreneurs from various sectors who will come up with innovative solutions which can transform India from a socio-economic perspective. It will urge participants to present solutions that are SMART (Sustainable, Motivating, Affordable, Responsible and Transformative). The platform is also envisaged to evolve, for aspiring entrepreneurs and innovators, that facilitate success through strategic networking, seed funding, and mentoring support.
The selected entrepreneurs will get access to mentorship from the experts from IIMCIP on various aspects of business model, fund raising, and real-life lessons. On the other hand, DST will provide access to the startup ecosystem and seed fund for prototyping.

Speaking on the occasion, Professor Ashok Banerjee, director IIMCIP, said, “At IIMCIP, it is our objective to create a nurturing ecosystem for entrepreneurs   working on innovative solutions to our socio-economic challenges. We encourage sustainable, motivating, affordable, responsible, transformative or SMART ideas and provide them necessary support so that they may create a positive impact in the country. We will provide mentorship, visibility and access to funds to the participants that will help them to take their venture to the next level.”

‘Smart Fifty – 50 solutions to transform India’ was announced during the august presence of Prof. Banerjee, Prof. Ashutosh Sharma – secretary to GoI, Department of Science & Technology, Dr. HK Mittal – advisor member secretary, NSTEDB, Department of Science & Technology, GoI, Dr. R Ramaraj, chairman, IIMCIP Board, Pradeep Gupta, director IIMCIP, Dr. Subhrangshu Sanyal, CEO IIMCIP and Sanjiv Aiyar – director IIMCIP.

On the occasion, Dr. R Ramaraj, chairman, IIMCIP Board said, “The objective of Smart Fifty is to identify and mentor innovative startups, working on ideas that can help positively transform India. We would gladly provide mentorship, seed fund, training and networking opportunities to the promising entrepreneurs in this field. IIMCIP has created an ecosystem with all required support to translate an innovative idea to a self-sustaining and financially independent business.”

Aspiring participants can present their business ideas in the following domains by logging on to

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