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To encourage, build, and expand the startup and entrepreneurial ecosystem in rural India, the Indian Institute of Management (IIM) Bangalore's innovation and entrepreneurship hub, NSRCEL, launched the rural entrepreneurship incubation program.

Top mentors from business, academia, government, and the development sector will assist NSRCEL in supporting entrepreneurs. The startups who made the shortlist will have the chance to present themselves in a grant and incubator pitch.

The hub will also assist participants with important facets of entrepreneurship, such as how to scale and strengthen the business model, work with local governments, and stabilize the business, including production, marketing, and distribution. The incubation program will also place a particular emphasis on fostering rural community relationships and working with them to establish sustainable livelihoods.

Young graduates of prestigious colleges who want to work in the development sector, as well as professionals in the business and development sectors, are included in the program. "The initiative aims to create sustainable livelihoods and employment possibilities in remote rural areas by focusing on activities for balanced inclusive development and to bridge socio-economic disparities. According to an official release from IIM Bangalore, it also seeks to "recruit, enhance, and develop emerging entrepreneurial potential to solve problems of rural India."

Kalapuri or Nirvi Handicrafts, IVillage Social Solutions, Indian Yards, Kulture Street, Ayang Trust, Bastar Se Bazar Tak, Karry Now, Mars Innovation - Growhitha, and Sahrudaya Foods are the nine rural enterprises that will collaborate with NSRCEL to create socio-economic impact by generating rural livelihoods.

"The epidemic has exposed the enormous socio-economic gaps and vulnerabilities in rural India, and there is a need for inclusive and sustainable development," said Anand Sri Ganesh, COO, NSRCEL, IIM Bangalore. With this program, we are turning away from founders who are urban-focused and toward those who are eager to make a difference in rural India.