The Centre for Entrepreneurial Learning Nadathur Sarangapani Raghavan (NSRCEL), a division of the Indian Institute of Management Bangalore (IIMB), which has mentored over 3000 startups, has generated a cumulative enterprise valuation exceeding $7 billion since its establishment in 2000. Furthermore, these startups have created more than 35,000 jobs, according to the institute's data.
As part of its next phase of development, the incubator plans to strengthen its presence by focusing on artificial intelligence (AI), deep technologies, and establishing global partnerships. The goal is to implement AI-based learning trajectories that provide round-the-clock personalized support to entrepreneurs, thereby increasing engagement from the current 238,000 to over one million entrepreneurs.
The division has transformed from a traditional academic incubator into a multifaceted ecosystem that connects theoretical management knowledge with the scaling of venture projects. In the 2024–25 fiscal year alone, the incubator supported over 720 enterprises across 24 states, utilizing a hybrid digital and physical model. Collaborations with government bodies and corporate sponsors, including Hindustan Unilever, Goldman Sachs, and Capgemini, have also been expanded.
Rasika Prashant, CEO of NSRCEL, stated that the center's mission is to create an incubator that is future-ready and capable of adapting to the changing needs of entrepreneurs. This adaptability is based on a model that NSRCEL calls 'open architecture.' The incubator relies on a network of over 100 mentors and a 'Startup Kit,' which includes more than 116 suppliers of products and services to support founders.
Partnerships have also been expanded to strengthen the overall startup ecosystem, including the Sbif Leap (i-Cube) initiative aimed at building incubation capacity in underserved regions such as Northeast India. Collaboration is ongoing with T-Hub and the IIT Delhi Innovation and Technology Transfer Fund (Fitt) for resource and mentor network exchange. Additionally, there is a partnership with Deloitte India to develop modules on mergers and acquisitions, taxation, and management.
During the 2025 fiscal year, NSRCEL adjusted its strategy towards creating hyper-specialized Centers of Excellence (CoE). This shift is most evident in NSRCEL's new industry centers. One key project is the FinTech Center of Excellence, approved by the Government of Karnataka with a five-year commitment of ₹13.24 crore. Of this amount, over ₹8 crore is allocated to incubation and acceleration, and ₹5 crore is designated for upskilling and training through IIMBx.
Alongside fintech, sustainable development has become the second pillar. NSRCEL positions itself as a hub for startups in sustainable development and the circular economy, aligning with IIM Bangalore's goals for achieving net-zero emissions. The portfolio includes Angirus IND, which produces bricks from 100% recycled plastic; WeVOIS, an IoT-based waste management startup that raised ₹36 crore in a Series A round; and Hala Mobility, an electric mobility platform that secured ₹51 crore in a pre-Series A round.
The commercial potential of NSRCEL-supported startups has also been reflected in investor interest and national recognition. Several supported companies have appeared on Shark Tank India, including Chokhat Home and Tickle Your Art, which attracted equity investments, as well as Klimate, known for its wearable personal cooling technology.
Some portfolio companies also attracted fresh capital in 2024–25. Energy Company raised $2 million to expand its smart battery and EV management solutions, while FluxGen secured ₹28 crore in a funding round led by investors, including Rainmatter by Zerodha. The circular economy startup Ukhi attracted $1.2 million, and the medical startup Anatomech received an Indian patent for its KUE compression sleeve.
NSRCEL has also expanded efforts to support women entrepreneurs through specialized training and incubation programs. In 2024–25, the Women Startup Program supported 341 founders from idea to concept stage, and the Goldman Sachs 10,000 Women initiative worked with 391 entrepreneurs to help scale their businesses. In partnership with the National Commission for Women, the incubator supported a total of 1470 women entrepreneurs across the country.
The Swavalambane program, launched in 2022 in collaboration with the Karnataka State Rural Livelihoods Society, has helped rural women entrepreneurs by providing access to finance, mentorship, and business development support. The initial cohort gathered over 40,000 applications from 26 districts, from which 150 enterprises were selected for incubation.
NSRCEL's social entrepreneurship platform, Impact Orbit, has supported 131 tech-enabled social enterprises since its launch in 2017 in collaboration with Capgemini, focusing on education, employment, and environment. The program has spread to Tier III and IV cities in over 20 states, with 42 percent of the enterprises being led by women.
According to an independent impact assessment published in November 2024, the startups collectively created over 14,000 jobs and reached more than 2.3 million people. As it moves to the next phase, NSRCEL is betting that what will define it over the next 25 years will be not so much scale, but the support for specialized sectors and artificial intelligence.
