Current Affairs - Miscellaneous - Discussion

The Indian Chamber of Commerce (ICC) signed a memorandum of understanding with the IIM Calcutta Innovation Park to help facilitate incubation of start-ups primarily in the Eastern and North Eastern states. It will primarily be focusing on developing start-up ecosystems that make a socio-economic impact in the eastern and north eastern states. This will help start-up entrepreneurs access ICC's member network. IIM Innovation Park is currently incubating 40 startups with almost half from Bengal. It will further add 10 more by the end of this fiscal. The company has in the last two years selected 25-odd start-ups for incubation. Most of these start-ups are revenue generating and have reported a cumulative turnover of Rs. 50 crore in FY18.