SBI Foundation And NSRCEL Launch Initiative To Empower Entrepreneurs In Underserved Regions

Bengaluru, Jan 18, 2025: SBI Foundation and NSRCEL IIM Bangalore have launched an initiative designed to foster entrepreneurial ecosystems in India's underserved regions. The ‘Incubating Incubators Initiative (i-Cube)’ is housed under the ‘Innovators for Bharat’ program at SBI Foundation and under the ‘Ecosystem Capacity Building Initiative’ at NSRCEL.  

This initiative aims to establish and enhance incubation centers in historically underrepresented regions, including the northeast and hill states, delivering localized and capacity building expertise, and resources. The initiative is designed to provide comprehensive resources, mentorship, and strategic guidance to existing incubators and accelerators, helping them scale, refine their services, and strengthen their impact on the startup ecosystem. 

By collaborating with state missions, educational institutions, knowledge partners, business veterans, and government bodies, the initiative will empower entrepreneurs, with a particular focus on women and youth, in areas where opportunities have historically been limited. 

The initiative will initially focus on establishing and strengthening incubation centers in underserved regions like the northeast, J&K, Ladakh and others. 

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 provide support to high-impact incubators providing 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.