The Indian Institute of Management Kozhikode (IIM-K) has launched its Laboratory for Innovation, Venturing and Entrepreneurship (LIVE), a business incubator and entrepreneurship development center. A proposal for LIVE was submitted by the institute in 2016, following which the Department of Science and Technology (DST) sanctioned a grant of Rs 3 crores. IIM-K has made available required space and facilities on campus and is developing a series of programmes and products that would ensure long term sustainability of ‘LIVE,’ which has offered admission to twelve startups in its first ever job creation programme, an IIM-K release said here today. “LIVE would gain immensely from the faculty members, students, alumni, international linkages and other institutional networks of IIM-Kozhikode and is in turn expected to contribute to the institute’s various programmes and activities, Director In-charge of IIM-K, Professor Kulbhooshan Balooni said in the release.
Of the 12 startups offered admission to LIVE in the first round that concluded recently, five are founded by IIM-K alumni.
The selected ventures in this group are across a range of sectors, but many are based on digital technology. LIVE, which registered under the Indian Societies Act in June 2016, hopes to support startups not just founded by IIMK’s own students or alumni but also any idea owner with innovation that is believed to have commercial potential” the release said quoting Dr Keyoor Purani, Executive Director, IIMK LIVE and professor of marketing at IIMK.
“IIMs and other B-schools have job placements deeply entrentched in many of their programmes as traditionally that has been the sole career track MBAs looked for. Over the years, newer models would evolve that would facilitate entreprenuerial risk taking by MBA students despite burden of educational loans. We are working towards that but as of now I am happy with the response”, he said in the release.