Kozhikode, June 12 (KNN) In the recent round of admissions in IIM-K LIVE (Laboratory for Innovation, Venturing and Entrepreneurship), the business incubator at Indian Institute of Management (IIM), Kozhikode has added 11 more startups.

IIM-K LIVE, which completed two years this month, has so far impacted 18 startups as part of its flagship business incubation program.

The recent round of 11 startup admissions to IIM-K LIVE was held in May, making the total startup strength to 29, at present.

IIM-K has said, “Together, these startups have created more than 50 direct jobs and over 100 jobs indirectly.”

Five of these startups have got approval for seed funds from external agencies and angel investors, it added.

IIM-K LIVE is an initiative of IIM Kozhikode to build a unique startup ecosystem on campus to contribute to the nation's economic goals.

The initiative has been supported by Department of Science and Technology (DST), Government of India with an initial grant.

It leverages the institute's existing strength of expertise in management, intellectual resources and the global network of alumni apart from the bright talent in its programs on campus.