Centre for Innovation, Incubation and Entrepreneurship (CIIE.CO), the startup incubator of Indian Institute of Management, Ahmedabad, will support over 100 early-stage craft startups by 2025.
It will also provide over 15 innovative craft startups access to portfolio support. It will provide seed funding and capital support of up to ₹50 lakh.
Chintan Bakshi, Partner, Incubation, CIIE.CO, told BusinessLine, “Passionate entrepreneurs working directly with craft clusters in India can help India leapfrog from a fossil-fuel-based economy to a green and sustainable economy. At the same time it would create millions of sustainable rural livelihoods.”
Interventions in design, materials, and technology to develop and market sustainable, socially conscious, and eco-friendly products will fuel the growth, he added.