IIM Calcutta Innovation Park and TechnoServe Join Forces to Supercharge India’s Green Startup Ecosystem

In a move set to reshape India’s green entrepreneurship landscape, IIM Calcutta Innovation Park (IIMCIP) has announced a landmark five-year partnership with TechnoServe’s Greenr Sustainability Accelerator. The collaboration, building on IIMCIP’s recently launched ₹50 crore Cleantech & Sustainability Fund, aims to nurture and scale the next generation of climate-conscious startups across the country.

The Greenr Sustainability Accelerator, supported by the IKEA Foundation and Visa Foundation, is one of the world’s largest non-profit programs dedicated to advancing small and growing green businesses. Together with IIMCIP, the accelerator will identify, mentor, and fund early-stage ventures that tackle India’s most pressing sustainability and climate challenges.

A Structured Path for Green Startups

Under this partnership, 20–25 early-stage startups will be selected annually to receive comprehensive support through IIMCIP’s structured incubation program. Among these, the top 10–15 high-performing ventures will advance to the Greenr Accelerator, where they will gain access to advanced mentorship, investor networks, and market linkages. This dual-layer approach ensures that promising green startups not only survive but thrive in India’s competitive entrepreneurial ecosystem.

The five-year program follows a carefully designed cycle of outreach, selection, incubation, and implementation support. Its goal is clear: help startups build investable products, secure funding, access markets, and develop sustainable, scalable business models.

Key Impact Goals Over Five Years:

• Pipeline & Funding: Ensure 10–15 startups annually reach the Greenr Accelerator, with at least 20% successfully raising external funding.

• Inclusivity: Maintain a minimum of 30% women-led startup participation, promoting diversity in the green economy.

• Job Creation: Enable each enterprise to generate significant employment opportunities in India’s growing green sector.

• Social Impact: Drive transformative change, with startups positively affecting thousands of lives through innovative climate and sustainability solutions.

Leveraging Expertise and Networks

IIM Calcutta Innovation Park, one of India’s leading incubators, will use its extensive ecosystem connections to identify and nurture high-potential startups. Greenr will complement these efforts with global networks, specialized acceleration support, and rigorous impact assessment frameworks. Fundraising will be a shared focus, ensuring participating startups are well-positioned to attract investment.

Ajay Jain, Chairman of IIMCIP, emphasized the strategic significance of the partnership, "At IIMCIP, we believe India’s journey towards Viksit Bharat 2047 will be defined by entrepreneurs who fuse innovation with sustainability. Partnering with TechnoServe allows us to accelerate our ₹50 crore Cleantech & Sustainability Fund and empower green startups with the resources, mentorship, and market access needed to create real-world impact."

Ajay Menon, Program Director of Greenr Sustainability Accelerator, added, "Solving climate challenges requires more than bold ideas—it requires an entire ecosystem to sustain them. With Greenr, we bring global networks, expert advisory, and impact-driven metrics to support startups. Having worked with over 200 green startups in the last 2.5 years, our partnership with IIMCIP ensures India’s most promising ventures receive world-class incubation and acceleration support to thrive and become market leaders."

As India positions itself as a global hub for cleantech innovation, this partnership marks a significant step toward fostering climate-positive entrepreneurship. By empowering early-stage startups with mentorship, funding, and market access, IIMCIP and Greenr are not just supporting businesses—they are enabling a generation of entrepreneurs dedicated to building a sustainable, resilient, and inclusive future.

Over the next five years, more than 100 startups are expected to benefit from this collaboration, each contributing to India’s climate goals while creating jobs, fostering innovation, and delivering measurable social and environmental impact.