New Delhi, Oct 21 (KNN) IIM Calcutta Innovation Park (IIMCIP) has plans to incubate 100 start-ups by 2020, of which 40 would be funded by the Department of Science and Technology (DST) and DFID.

Talking to media persons, IIM-C director Saibal Chatterjee said that the Innovation Park, which started two years ago, has provided seed capital to six start-ups and is ready to go for a second series of funding.

At present, the park is incubating 14 start-ups and IIM-C has also got the mandate to mentor 40 start-ups in the social enterprise sector under the INVENT scheme for a period of three years.

The social enterprise sector includes – healthcare, education for masses, technological innovation, agriculture, water and sanitation.

The INVENT programme is funded jointly by the DST and the Department for International Development (DFID) which is aimed at promoting social enterprise in the low-income states.

These start-ups under the INVENT programme would be for-profit enterprises which would receive initial seed funding from DST and DFID.