It will create a comprehensive ecosystem of 'learn, grow and share' to promote and nurture innovative enterprises, an IIMC release said.
"The innovation park plans to incubate 40 start-ups in the next five years. Also have an accelerator programme for established start-ups," it added.
IIMC said the innovation park has already been recognised as a technical business incubator by the Department of Science and Technology under the Ministry of Science and Technology and has approved a funding of Rs 7 crore over the next 5 years.
The management school proposes that Rs 10-20 crore be raised as seed fund over the next six months to provide credit support to the start-ups, it added.