NSRCEL

What NSRCEL does

NSRCEL is the flagship startup incubation center of the Indian Institute of Management Bangalore (IIMB), legally registered as IIMB INNOVATIONS (NSRCEL) and founded in 2003 with the support and vision of N. S. Raghavan, co-founder of Infosys. Operating from its Bangalore campus at Bannerghatta Road, NSRCEL runs a platform-plus-programs architecture comprising approximately 16 active programs across the idea-to-growth lifecycle, including pre-incubation (Launchpad, Campus Founders, Healthcare Incubation Program), growth-stage acceleration (Velocity–Kotak BizLabs, Goldman Sachs 10,000 Women, Women Startup Program, Impact Orbit, Circular Bharat Accelerator), and sector-specialized cohorts in mobility, climate, circular economy, fintech, and renewable energy. It also operates two Centres of Excellence—in Climate and Fintech—with regulatory sandbox access for BFSI startups.

NSRCEL does not develop proprietary technology products; its offering is service-based: structured incubation cohorts providing mentorship, workspace, funding access, industry partnerships, demo days, and ecosystem events to early-stage and growth-stage Indian founders. Customer-facing outputs include the German Indian Mobility Summit, FinTech Friday, Claude Code for Founders sessions, and various virtual masterclasses delivered in partnership with WeWork Labs. Distribution relies on direct applications, partner institution referrals (via its For Incubators program), and corporate-anchored co-branded cohorts that recruit founders through partner channels.

Revenue is drawn from three primary streams: (1) corporate partnership and CSR funding from marquee sponsors including Kotak Mahindra Bank, Maruti Suzuki, Pernod Ricard India Foundation, HDFC Life, and Goldman Sachs; (2) incubation program fees (largely implicit via cohort participation); and (3) government and institutional grants routed through IIM Bangalore and partners such as KREDL. Customer concentration lies on the sponsorship side (a handful of multi-year corporate anchors finance the bulk of activity), while the startup beneficiary base is broadly fragmented—over 600 women entrepreneurs, 140+ mobility ventures, and thousands of cumulative founders across cohorts. The organization operates primarily in India with international exposure through the Beyond Borders Program and the UNSW partnership.

Name

NSRCEL

Legal name

IIMB INNOVATIONS (NSRCEL)

Website

https://nsrcel.org

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NSRCEL is IIM Bangalore's flagship startup incubator, supporting Indian early-stage and growth-stage founders through ~16 mentorship, funding, and corporate-partnered programs across fintech, mobility, climate, circular economy, healthcare, and women's entrepreneurship verticals.

Ownership category

akta.pro rank

Product category

Startup Incubation and Acceleration Services

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industries

Entrepreneurship, Startup Incubation & Pitch Programs (EDAMAKAK), Entrepreneurship Foundations & Startup Basics (EDAMAHAA)

Keywords

• Startup incubation services
• Entrepreneurship mentorship programs
• Corporate startup accelerator
• Venture acceleration programs
• Academic startup incubator

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Corporate Partnerships and CSR Funding: NSRCEL receives funding from corporate partners including Kotak Mahindra Bank, Maruti Suzuki, Pernod Ricard India Foundation, and other organizations through CSR (Corporate Social Responsibility) initiatives to run specialized incubation programs.
2. Incubation Program Fees: Structured incubation programs that provide mentorship, workspace, and ecosystem access to selected startups, with support from institutional donors and corporate partners.
3. Government and Institutional Grants: Supported by government bodies and institutions including IIM Bangalore, with NSRCEL established with the support and vision of Mr. N. S. Raghavan, co-founder of Infosys.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

NSRCEL operates structured startup incubation and acceleration programs for early-stage and growth-stage ventures, providing mentorship, workspace, ecosystem access, and funding connections at the IIM Bangalore campus. Its portfolio includes pre-incubation programs (Launchpad, Campus Founders), growth-stage accelerators (Velocity – Kotak BizLabs, Goldman Sachs 10,000 Women), sector-focused cohorts (Mobility with Maruti Suzuki, Circular Economy with Pernod Ricard India Foundation, Renewable Energy with KREDL/UNSW, Healthcare Incubation), impact programs (Impact Orbit, Womentum), and two Centres of Excellence in Climate and Fintech.

Product overview

NSRCEL at IIM Bangalore operates as a comprehensive startup incubator offering a platform-plus-programs architecture. The core offering includes pre-incubation programs (Launchpad, Campus Founders, Healthcare Incubation Program) for idea-stage ventures, growth-stage programs (Velocity – Kotak BizLabs, Goldman Sachs 10,000 Women, Women Startup Program) for scaling startups, and specialized sector-focused programs including the Incubation Program for Mobility Startups (with Maruti Suzuki), Circular Economy Incubation Program (with Pernod Ricard India Foundation), and Renewable Energy Incubation Centre (with KREDL/UNSW). The organization also hosts two Centres of Excellence (Climate and Fintech) that provide sector-specific support and ecosystem access. All programs provide mentorship, business development support, funding access, and strategic partnerships to help entrepreneurs scale their ventures.

Differentiator

Problem solved

Functional benefit

Brands

• Climate Centre of Excellence: A centre focused on climate tech innovation and startups.
• Fintech Centre of Excellence
• Velocity – Kotak BizLabs
• Women Startup Program
• Womentum

Products and services

• Launchpad Pre-incubation program that helps entrepreneurs validate ideas, understand markets, and build strong foundations at the idea and prototype stage. Targeted at founders at the earliest venture stages.
• Campus Founders Incubation program designed for student entrepreneurs to develop and launch their startup ventures from university campuses. Targeted at student founders.
• Healthcare Incubation Program Incubation program supporting early-stage healthcare, medical devices, and medtech startups with mentorship, regulatory navigation, and ecosystem access. Targeted at founders in healthcare and medtech.
• Goldman Sachs 10,000 Women Program providing women entrepreneurs with business education, mentorship, and access to capital, delivered in partnership with Goldman Sachs. Targeted at women founders.
• Women Startup Program (Kotak BizLabs) Incubation program run in partnership with Kotak Mahindra Bank (Kotak BizLabs), providing women entrepreneurs with mentorship, ecosystem access, and business development support across a 4-phase growth journey. Targeted at women entrepreneurs in Tier-II and Tier-III cities. Helped 600+ women entrepreneurs and provided ₹3 crore funding to 30 startups in 2025.
• Impact Orbit Multi-track impact program structured into sub-programs including Skilling and Livelihood Innovations, AgeTech Innovations, and (formerly) Tech Enabled Social Innovations. Targeted at impact-focused founders across social innovation verticals.
• Velocity – Kotak BizLabs Growth-stage acceleration program helping ventures raise funds, expand markets, and scale sustainably with strategic mentorship, delivered in association with Kotak Mahindra Bank's Kotak BizLabs. Targeted at growth-stage startups.
• Circular Bharat Accelerator Accelerator program focused on circular economy startups and sustainable business models in the Indian context. Targeted at founders building circular economy ventures.
• Climate Incubation Hub Dedicated hub supporting climate-tech startups with incubation resources and climate-focused mentorship. Targeted at climate-tech founders across sub-sectors of climate action.
• Circular Economy Incubation Program Program run with Pernod Ricard India Foundation supporting startups focused on climate-smart agriculture, plastic circularity, and glass circularity. Targeted at circular economy startups; the third cohort disbursed ₹95 lakh in grants to 10 startups.
• Incubation Program for Mobility Startups Mobility-focused incubation program run in partnership with Maruti Suzuki India Limited, supporting early-stage startups across mobility, AI, electric vehicles, and clean technology. Since 2020, the program has engaged 140+ ventures, facilitated 19 paid Proof-of-Concept opportunities, and enabled alumni to collectively raise over ₹1,000 crore.
• Sustainable Mobility Incubation Program Program focused on sustainable mobility solutions and green transportation innovations. Targeted at founders building sustainable mobility ventures.
• Beyond Borders Program International expansion program helping Indian startups access global markets and pursue cross-border innovation opportunities. Targeted at Indian startups ready to expand internationally.
• Renewable Energy Incubation Centre Incubation centre supporting renewable energy and clean tech startups, established in partnership with Karnataka Renewable Energy Development Ltd (KREDL) and the University of New South Wales (UNSW). Targeted at clean energy founders in Karnataka and India.
• Climate Centre of Excellence Centre of Excellence dedicated to climate technology innovation, research, and startup support. Targeted at climate-focused founders, researchers, and ecosystem partners.
• Fintech Centre of Excellence Centre of Excellence focused on fintech innovation, supporting startups in financial technology with regulatory sandbox access and industry partnerships. Targeted at fintech founders in BFSI.

Quantifiable outcome

• Over 600 women entrepreneurs helped through Women Startup Program
• +4 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Kotak Mahindra BankcoreStrategic or Co-development Partner · 22 June 2026Kotak Mahindra Bank partners with NSRCEL to run the Women Startup Program (Kotak BizLabs), supporting women entrepreneurs in Tier-II and Tier-III cities. The program offers a 4-phase growth journey including mentorship, ecosystem access, and business development support. The initiative has helped 600+ women entrepreneurs and provided ₹3 crore funding to 30 startups in 2025.
• Council of Scientific and Industrial Research (CSIR)minorStrategic or Co-development Partner · 13 June 2026CSIR RISE Conclave 2026 organized with NSRCEL participation, bringing together research institutions, industries, start-ups, policymakers, investors, and academia to accelerate innovation-led economic growth.
• HDFC Life InsurancecoreStrategic or Co-development Partner · 25 May 2026HDFC Life collaborates with NSRCEL and Z47 for Futurance Phase 7, an open innovation initiative in the insurance ecosystem. The program focused on AI-led use cases including Auto Code Generator, AI-enabled Audio/Video Creation, and Site Reliability Engineering. Five startups were selected from 280 applications.
• Pernod Ricard India FoundationcoreStrategic or Co-development Partner · 16 April 2026NSRCEL and Pernod Ricard India Foundation run the Circular Economy Incubation Programme, now in its third consecutive year. The program disbursed ₹95 lakh in grants to 10 startups in the third cohort, supporting ventures in climate-smart agriculture, plastic circularity, and glass circularity.
• University of New South Wales (UNSW)minorStrategic or Co-development Partner · 2 April 2026UNSW signed MoU with KREDL to establish a renewable energy startup incubator in Karnataka. NSRCEL at IIM Bangalore serves as incubation and technical validation partner, providing ecosystem access and market support for clean energy startups.
• Karnataka Renewable Energy Development Ltd (KREDL)minorStrategic or Co-development Partner · 2 April 2026KREDL partners with UNSW and NSRCEL to strengthen clean energy innovation in Karnataka. The collaboration aims to establish a renewable energy startup incubator and provide startups access to innovation ecosystems, research infrastructure, and markets in India and Australia.
• Maruti Suzuki India LimitedcoreStrategic or Co-development Partner · 1 January 2020Maruti Suzuki partners with NSRCEL for the Incubation Program for Mobility Startups, supporting early-stage ventures in mobility, AI, electric vehicles, and clean technology. Since 2020, the program has engaged 140+ ventures, facilitated 19 paid POCs, and enabled alumni to collectively raise over ₹1,000 crore. The 6th cohort was launched in 2026.
• Goldman SachscoreStrategic or Co-development PartnerNSRCEL partners with Goldman Sachs for the 10,000 Women program, providing entrepreneurship training and support to women founders.
• Plug and PlayminorStrategic or Co-development PartnerNSRCEL collaborates with Plug and Play through accelerators on campus, inspiring the next generation of entrepreneurs and providing industry connections.
• WeWork LabsminorStrategic or Co-development PartnerWeWork Labs partners with NSRCEL for The Founder Framework virtual masterclass series, providing upskilling content for startup founders.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• T-Hub: India's largest startup incubator based in Hyderabad; runs corporate-led innovation programs, sector accelerators, and is the closest national counterpart to NSRCEL in scale and program breadth.
• CIIE.CO (IIM Ahmedabad): Technology business incubator at IIM Ahmedabad with deep focus on cleantech, healthcare, and fintech; directly comparable as a top-tier university-affiliated incubator in India.
• SINE (Society for Innovation and Entrepreneurship, IIT Bombay): IIT Bombay's startup incubator supporting deep-tech and technology ventures with mentorship and seed funding; comparable as a tier-1 academic incubator in India with similar structure to NSRCEL.
• IIT Madras Incubation Cell: One of India's leading deep-tech incubators at IIT Madras; comparable in scale and university-affiliated structure, with strong focus on deep tech and research-led ventures.
• Axilor Ventures: Indian early-stage venture fund and accelerator founded by Infosys co-founders (including N. S. Raghavan); highly comparable founder lineage and Indian startup focus.
• Villgro: India-based social enterprise incubator focused on health, agriculture, and climate; directly comparable mission and India-anchored impact-incubation model.

Broad incumbents

• Y Combinator: Global benchmark for startup accelerators; differs in for-profit structure and global scale but is the standard against which all university-based incubators measure program quality.
• Techstars: Global accelerator network with corporate partnerships (e.g., Techstars Mobility); comparable program structure and corporate-sponsored model though at significantly larger scale.
• Plug and Play: Global innovation platform and corporate accelerator with multiple vertical programs; NSRCEL has an explicit partnership with Plug and Play, validating it as a peer ecosystem player.

Emerging players

• MassChallenge: Global non-profit accelerator supporting high-impact startups across multiple verticals; comparable mission-driven, non-equity model and program-based incubation approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/4Startups
• YouTubeyoutube.com/channel/UCs5f7voEao3lQFGjIi0BCrA
• Facebookfacebook.com/NSRCEL
• LinkedInlinkedin.com/company/nsrceliimb
• Instagraminstagram.com/nsrcel_iimb

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about NSRCEL