Forum for Innovation Incubation Research and Entrepreneurship

What Forum for Innovation Incubation Research and Entrepreneurship does

FiiRE® (Forum for Innovation Incubation Research and Entrepreneurship), founded in 2018 and headquartered in Fatorda, Goa, India, is a non-profit technology business incubator and coworking operator with a vertical specialization in TourismTech — the application of technology to tourism, hospitality, sustainability, and travel. The organization operates three product lines: (1) an incubation program offering mentorship, prototyping infrastructure, and investor access for early-stage startups; (2) FiiREWork, a coworking and managed-office real-estate operation spanning three Goa locations (Fatorda HQ, Margao, Panaji) totaling approximately 65,000 sq. ft. with ~200+ available seats; and (3) investment-program administration including NIDHI PRAYAS (up to ₹10 lakhs for prototyping), NIDHI Seed Support, NIDHI EIR, Startup India Seed Fund Scheme, HDFC Parivartan SmartUp Grants, MeitY GENESIS EIR, and MSME Idea Hackathon 5.0. Underlying infrastructure includes a prototyping lab (CNC machining, 3D printing, PCB design) and a design centre; registered trademarks for TourismTech®, FiiRE®, and FiiREWork™; and a partnership network spanning Microsoft for Startups, AWS, DigitalOcean, ZOHO, Freshworks, F6S, and ONGC. FiiRE operates from the campus of Don Bosco College of Engineering under the aegis of the Department of Science & Technology's NIDHI program and MeitY's GENESIS EIR program.

The organization's revenue mechanics rest on two streams typical of government-anchored Indian Technology Business Incubators (TBIs): (a) government grant administration budgets and pass-through funding flows (DST-NIDHI, MeitY GENESIS, Startup India, HDFC Parivartan), and (b) workspace rental income from coworking tenants across three Goa locations. FiiRE does not generate revenue from direct equity returns on portfolio startups and is explicitly structured as a non-profit facilitator. The cited "Rs. 111 crore" figure refers to capital raised by 63 portfolio startups across their various funding rounds, not to FiiRE's own topline. GTM motion is event-driven and community-led: FiiRE sources applications via workshops, business-idea competitions, career days, monthly events, and F6S-platform intake, with a 6-step application funnel culminating in induction. Customer segments span TourismTech startups (primary), freelancers and remote workers, early-stage first-generation entrepreneurs, and SMEs requiring flexible office space — with vertical specialization on tourism, hospitality, sustainability, and mobility. The core team comprises five professionals: Kiraan Mehta (CEO) and four functional managers, supported by a board including Fr. Wilfred Fernandes as Director. The stated long-term ambition is to position Goa as India's premier TourismTech hub by 2030.

Name

Forum for Innovation Incubation Research and Entrepreneurship

Legal name

Forum for Innovation Incubation Research and Entrepreneurship

Website

https://fiire.org.in

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

FiiRE® is Goa's leading non-profit TourismTech® incubator, supporting 180+ early-stage startups with mentorship, prototyping labs, and grant administration. It also operates FiiREWork, a three-location coworking network spanning 65,000 sq. ft. and 200+ seats across Goa.

Ownership category

akta.pro rank

Product category

Startup Incubation Services

NAICS

Professional and Management Development Training (611430), Educational Support Services (61171)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industries

Youth Business Incubators & Accelerators (EDAMAHAC), Entrepreneurship, Business & Innovation Camps (EDAMALAL)

Keywords

• Startup incubation services
• Tourism technology incubator
• Coworking workspace provider
• Government seed funding
• Entrepreneurship development programs

Headquarters

HQ city

Margão

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Government Grant Funding Programs: FiiRE operates as a non-profit incubator primarily funded through government schemes including DST-NIDHI programs, MeitY GENESIS, Startup India Seed Fund, and HDFC Parivartan grants. Revenue is derived from administering these programs and potentially nominal fees for incubation services.
2. Coworking Space Rentals: FiiREWork provides flexible coworking spaces with options including fixed seats, flexi-seats, day passes, and private offices. Revenue generated through rental of workspace facilities across three Goa locations.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels10 records

Core offering

FiiRE operates as a non-profit TourismTech startup incubator providing structured incubation programs, government-backed seed funding and grants (NIDHI PRAYAS, NIDHI Seed Support, NIDHI EIR, Startup India Seed Fund, HDFC Parivartan, MeitY GENESIS EIR, MSME Idea Hackathon), and flexible coworking workspaces across three Goa locations. Core deliverables include expert mentorship, investor network access, prototyping lab usage (CNC, 3D printing, PCB), and a curated community of 180+ supported startups.

Product overview

FiiRE (Forum for Innovation Incubation Research and Entrepreneurship) is a technology incubator and coworking operator based in Goa, India. The organization operates a unified platform combining three core offerings: Incubation Program (providing mentorship, workspace, and investor access for TourismTech® startups), FiiREWork Coworking (flexible workspace across 3 locations in Goa), and multiple Investment Programs (including NIDHI PRAYAS, NIDHI Seed Support, NIDHI EIR, Startup India Seed Fund Scheme, HDFC Parivartan SmartUp Grants, MeitY GENESIS EIR, and MSME Idea Hackathon). These programs collectively support startups from idea validation through investment and market access, with focus areas in tourism, hospitality, sustainability, mobility, and customer experiences.

Differentiator

Problem solved

Functional benefit

Products and services

• Incubation Program
• FiiREWork Coworking
• NIDHI PRAYAS Program
• NIDHI Seed Support
• NIDHI Entrepreneurs In Residence (EIR)
• Startup India Seed Fund Scheme (SISFS)
• HDFC Parivartan SmartUp Grants
• MeitY GENESIS EIR Program
• MSME Idea Hackathon 5.0

Quantifiable outcome

• 63 startups funded raising Rs. 111 crore
• +2 more outcomes

Named customers27 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Department of Science & Technology, Government of IndiacoreStrategic or Co-development PartnerPrimary government backer providing support for NIDHI programs and overall incubator operations. Operates from Don Bosco College of Engineering campus.
• Don Bosco College of Engineering, FatordacoreStrategic or Co-development PartnerAcademic institution hosting FiiRE headquarters and providing research and entrepreneurship infrastructure.
• Unicorn VenturesminorStrategic or Co-development PartnerPartner organization supporting startup ecosystem development.
• HeadStartminorStrategic or Co-development PartnerStartup support organization partner in FiiRE ecosystem.
• F6ScoreChannel Partner/ Reseller/ DistributorPlatform partner for managing incubation program applications and startup outreach.
• ONGCminorStrategic or Co-development PartnerCorporate partner supporting innovation ecosystem in Goa.
• Goa PrismminorStrategic or Co-development PartnerLocal ecosystem partner in Goa startup community.
• Goa News HubminorStrategic or Co-development PartnerMedia partner supporting startup visibility and news coverage.
• Goa CouncilminorStrategic or Co-development PartnerGovernment council partner for Goa's startup ecosystem development.
• SNVminorStrategic or Co-development PartnerDevelopment organization partner for sustainable tourism initiatives.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• T-Hub (Technology Hub): India's largest technology incubator/accelerator based in Hyderabad, supporting early-stage startups with mentorship, funding access, and corporate partnerships. Directly comparable as a government- and corporate-backed tech startup incubator with cohort-based programs, coworking, and investor networks.
• IIT Bombay SINE (Society for Innovation and Entrepreneurship): Academic-institution-hosted technology business incubator affiliated with IIT Bombay. Comparable in being an academic-anchored, government-linked (DST-NIDHI) incubator offering seed funding, mentorship, and prototyping infrastructure to early-stage ventures.
• CIIE.CO (IIM Ahmedabad): Technology business incubator hosted at IIM Ahmedabad, providing seed funding, mentorship, and accelerator programs. Directly comparable as an academic-institution-hosted, government-supported tech startup incubator with cohort-based selection.
• Kerala Startup Mission (KSUM): State-government-led startup incubator in Kerala providing funding, mentorship, coworking spaces, and accelerator cohorts. Comparable as a state-backed technology incubator with strong government scheme integration and coworking infrastructure.
• Villgro Innovations Foundation: India's oldest social-impact incubator supporting enterprises in healthcare, agriculture, and sustainability. Comparable as a non-profit/impact-oriented incubator providing seed funding, incubation, and mentorship to early-stage startups.
• Brigade REAP: Real-estate-backed startup accelerator offering cohort-based programs, mentorship, and seed-stage support to early-stage ventures. Comparable as a structured accelerator with coworking, mentorship networks, and government/corporate funding access.
• Zone Startups India: Toronto-based accelerator with India operations (Mumbai) running cohort-based programs for tech startups. Comparable as a foreign-affiliated, cohort-based tech startup accelerator providing mentorship and corporate partnerships.

Broad incumbents

• Atal Innovation Mission (AIM): Government of India flagship initiative under NITI Aayog running Atal Incubation Centres and Atal Tinkering Labs nationwide. Broader incumbent comparable as the umbrella government incubator program that funds many of the same institutions FiiRE partners with.
• NASSCOM 10,000 Startups: Industry-body-led (NASSCOM) program supporting Indian tech startups with mentorship, investor access, and corporate partnerships. Broad incumbent comparable as a non-academic, consortium-driven startup support platform operating nationally.

Emerging players

• Indigram Labs Foundation: Non-profit technology business incubator supporting agri-tech, cleantech, and rural innovation startups in India. Emerging player comparable as a smaller, mission-driven incubator with government scheme integration and physical prototyping infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FiiREGoa
• YouTubeyoutube.com/@FiiREcosystem
• Facebookfacebook.com/FiiREIncubator
• LinkedInin.linkedin.com/company/fiire-forum-for-innovation-incubation-research-and-entrepreneurship
• Instagraminstagram.com/fiiregoa

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments26 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forum for Innovation Incubation Research and Entrepreneurship