चरैवेति … चरैवेति … चरैवेति …

Institute, Engage and Embark!
(CHARAIVETI is an aphorism from the Aitareya Brahmana, which means “Go on”)

The hall was mesmerised on this last connotation in Sanskrit made by the Hon’ble Governor of Uttar Pradesh, Ram Naik, in the inauguration ceremony of SCIFI, a fintech incubation centre, at Indian Institute of Management, Lucknow. The ceremony continued further with a conference on creating an ecosystem for start-ups in Lucknow. The event witnessed participation by various distinguished personalities, founders and investors from venture capital firms and incubators, sharing their thoughts and experiences.

Lucknow is not a start-up hub. In fact, it is not even in the premises of the hubs like Delhi and Bangalore, where all the techie and start-up buzz resides. So, why promoting a start-up incubation centre at IIM Lucknow?

While the government has boosted the entrepreneurial culture further in the country, it has also been a major area of political concern under Modi regime with the launch of targeted social schemes like Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Mudra Yojana etc. The success of such schemes lies in effective implementation and a robust execution landscape can only be made with a sound understanding at the root level.

IIM Lucknow has been a centre of excellence, generating and imparting knowledge in management and providing socially conscious and globally relevant thought leadership. The campus has been historically known for its marketing acumen and continues to strive further. Entrepreneurship Cell at IIM Lucknow identifies Financial Inclusion as a sector where the model needs in depth market insights. Lucknow serves as a base for its surrounding territories. The incubation centre provides live support as a test platform for its incubates, where start-ups can come up with their innovative ideas and test its robustness in nearby environment.

The goal is to invest in building social enterprises which will help in the growth of economy by bringing the inequality down. The centre has gathered support from the government and SIDBI. Apart from this, it has also received sponsors from Indian oil, Axis bank, SBI and HDFC banks.

This article has been written by Ashish Ranjan, Co-ordinator, Entrepreneurship Cell, IIM Lucknow.

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