IIM BANGALORE

Set up in March 2002 as a focal point for entrepreneurial studies at IIM Bangalore, the Nadathur S
Raghavan Centre for Entrepreneurial Learning (NSRCEL) facilitates business growth through
academic research by scholars and practical learning for entrepreneurs.
NSRCEL was envisioned as a world-class centre for excellence in seeding, nurturing and promoting
entrepreneurship with emphasis on start-ups and existing organisations with high growth potential.
NSRCELs objective is, therefore, to help entrepreneurs channelize their energy and talent towards
transforming their ideas into successful companies. It does so by guiding them in understanding specific
opportunities for business growth and helping them access the resources they require.
NSRCEL not only trains entrepreneurs and promotes entrepreneurship but also runs an incubator cell for
start-up companies. The incubation support is not limited to any specific sectors; however it has tended to
be engaged to a greater extent with companies from the Information and Communication Technology,
Clean Technology and Embedded Systems and Design sectors.
Located within the academic space at the serene IIM Bangalore campus, NSRCEL offers extensive
engagement with industry in order to channelize and refine raw entrepreneurial energies that go on to
become successful businesses. The Centre draws upon both the IIMB faculty and industry experts to
provide mentoring support. .
Incubation Process
If an idea is found to be developed and interesting enough, the entrepreneur is given an opportunity
to present it to NSRCELs Screening Committee, which typically meets once every three months.
After the presentation to the screening committee, the entrepreneur is informed on the possibility of
its incubation within two days of the presentation.
The entrepreneur is sent an intimation letter outlining the documents that have to be submitted prior
to the commencement of incubation. The team needs to have formed a Private Limited Company
(NSRCEL does not incubate proprietorships or partnerships). The company has to submit its
incorporation documents (its Articles and Memorandum of Association) and PAN card before the
necessary incubation agreements can be prepared.
Once the documents are received, they are reviewed and the necessary agreements (shareholders
agreement and infrastructure licensing agreement) are prepared. Generally, an incubatee is
expected to enter incubation before the next Screening Committee meeting (that is, within one
quarter); in exceptional cases, some extension on this timeline can be provided.
Once the agreements are signed, the company is sent a letter allotting it a room and indicating the
date of commencement of incubation.The facilities available at incubation are outlined in
theFrequently Asked Questions section. Along with this, a lead mentor and a second mentor are
allocated to the start up.
During the period of incubation, there are a number of review meetings with the NSRCEL team to
monitor the progress the company makes while incubating at the center.
To ensure that they are given sufficient exposure to the startup ecosystem, which includes
prospective customers and potential investors, these startups are encouraged to take part in the
biannual Ecosystem Summit event organized by NSRCEL.
The final part of the incubation process is graduation. Graduation from NSRCEL, in this context,
means that either the company has a good stream of paying customers or the subsequent round of
funding has taken place. NSRCEL does not incubate any company for a period of more than 18
months.


Mentorship
NSRCEL works with a panel of mentors who are successful entrepreneurs and/or corporate
managers. These mentors guide business start-ups that approach the Centre for support.
This mentorship is carried out one-on-one as a formal structured process at NSRCEL. The process
includes reviewing the business plan submitted by the mentored company, helping entrepreneurs
think through alternative solutions and plans, surveying progress where there has been earlier
contact with the Centre, and suggesting a road map for future action. NSRCEL is an open
mentorship centre, engaging with a number of entrepreneurs at the idea stage.