IDFC First Bank, IIM Calcutta launch ₹2 crore startup incubation scheme

IDFC First Bank has partnered with the IIM Calcutta Innovation Park to establish IGNITE, a comprehensive startup incubation programme aimed at nurturing enterprises focused on sustainable business solutions across India. The initiative will deploy a total support package of ₹2 crore, including a direct startup grant corpus of ₹1.36 crore, according to officials.

The programme targets early-stage ventures seeking to strengthen their business models, expand market reach, and generate measurable environmental and social outcomes. Through a competitive selection process, 16 startups from across the country will be chosen to participate in the structured incubation journey.

Focus areas for the IGNITE programme span green manufacturing, waste recycling and upcycling, cleantech solutions, renewable energy, water management, environmental technologies, and sustainable use of indigenous resources. Selected startups will benefit from business diagnostics, expert mentoring, and operational support designed to accelerate their growth and market penetration.

The partnership reflects growing industry emphasis on channelling capital and expertise toward ventures addressing pressing environmental and social challenges. The initiative comes amid increasing demand from financial institutions and innovation hubs to support the sustainable entrepreneurship ecosystem in India.