SBI Foundation and NSRCEL unveil ‘Incubating Incubators Initiative’ on 16 January
The i-Cube Initiative, launched on National Startup Day, seeks to empower entrepreneurs in underserved regions
16 January, 2025, Bengaluru: On the occasion of National Start-up Day, SBI Foundation and start-up incubation unit NSRCEL at IIM Bangalore announced the launch of the ‘SBIF LEAP: Innovators for Bharat- Incubating Incubators Initiative (i-Cube)’, a novel initiative designed to foster entrepreneurial ecosystems in India's underserved regions. The initiative is housed under the ‘Innovators for Bharat’ program at SBI Foundation and under the ‘Ecosystem Capacity Building Initiative’ at NSRCEL.
The impact effort seeks to build and enhance incubation centers in historically underrepresented regions, including the northeast and hill states, through its delivery of localized and capacity building expertise and resources. Designed to provide comprehensive resources, mentorship, and strategic guidance, the program will aid incubators and accelerators by helping them scale, refine their services, and strengthen their impact on the startup ecosystem. Its collaboration with state missions, educational institutions, knowledge partners, business veterans, and government bodies, will further bolster women and youth representation, areas where opportunities have historically been limited. With an initial focus on underserved regions including the northeast, J&K, Ladakh, and others, it seeks to transform incubation centers into dynamic hubs of innovation and impact.
Speaking on the thought behind this initiative, Sanjay Prakash, Managing Director, SBI Foundation, said, “SBI Foundation set up the Innovators for Bharat initiative primarily to support high-impact incubators that provide incubation/acceleration support to start-ups working to address the most pressing development challenges in the country. Over time, we recognized the need to nurture incubators, particularly in smaller cities and rural centres. We are proud to be partners with NSRCEL, IIM Bangalore, in this mission to foster localized innovation”.
“The SBIF LEAP: Innovators for Bharat - Incubating Incubators Initiative (i-Cube) represents a pivotal step towards bridging the gap in entrepreneurial infrastructure in underserved regions of India. By empowering incubators and supporting entrepreneurs, NSRCEL with SBI Foundation’s support envisions a thriving entrepreneurial ecosystem that fosters innovation, job creation, and economic growth,” said Anand Sri Ganesh, CEO of NSRCEL, IIM Bangalore.
About SBI Foundation
SBI Foundation is the CSR arm of the State Bank Group. True to the Bank’s tradition of ‘Service Beyond Banking’, the Foundation engages with communities in various focus areas, including livelihood and skill development, innovation, education, rural development, healthcare, empowerment of PwDs, sustainability and environment, and more. Operating across 28 States and 7 Union Territories of India, the Foundation undertakes initiatives to provide resources to vulnerable sections of society through strategic partnerships with impactful entities in the social sector. The Foundation believes in reflecting the ethos of the State Bank Group in running interventions that are ethical, promote growth and equality, and improve the socio-economic well-being of the society.