Press Release
Founded with the vision of fostering ‘first to India’ tech- entrepreneurs, Bajaj Electricals and CIIE.CO (the start- up incubation centre of IIM Ahmadabad) announce the official launch of India’s newest incubation center – ‘Anant Bajaj Limitless Ideas Hub’. Located in the heart of Jaipur city at 22 Godam, the incubation center is spread across a whopping 15,500 sq.ft boasting of world-class facilities and new-age infrastructure. The hub will offer 360-degree interventions including mentoring, seed funding and other incubation needs of start-ups. Given this context, this robust partnership harnesses the strengths of the two organisations supporting early-stage innovators start-ups that are committed towards disrupting the status-quo, promoting sustainability and improving the quality of life.
At the official launch event, Mr. Chintan Bakshi – Partner, Incubation at CIIE.CO shared that there was a pressing need for an Incubation Centre in the dynamic Jaipur city which was located centrally and focussed on providing support to the needs of buzzing start-up scene encompassing women entrepreneurs, innovative start- ups, craft and sustainable fashion businesses, solopreneurs and early-stage tech start- ups. Tier 2 cities like Jaipur are the emerging hubs in the entrepreneurial roadmap in the country; and emergence of India’s Unicorns and Soonicorns from this city is a testimony to this. Furthermore, there are many early-stage entrepreneurs and start- up founders in Jaipur who are building unique business models and diverse product offerings for conventional areas like food, crafts, fashion, education and so on by leveraging technology. The new centre will be particularly attractive for women entrepreneurs given the centralised location, available of public transport and easy proximity to commercial and residential areas of Civil Lines, C-Scheme etc. A prototyping lab for early state technology hardware start- ups, in collaboration with other organisations and institutions, is also being planned at the new incubation center in the near future.
Mr. Shekhar Bajaj – Chairman and Managing Director of Bajaj Electricals Limited said, “Innovation is akin to life- dynamic and evolving! Anant Bajaj understood this key mantra very early on. As a young mind in the consumer electronics business, his ideas were not limited to expansion but spinning creativity in every bit of work to add value in people’s lives. His focus was on integrating manufacturing and R&D so that consumers are offered not just products but cutting-edge solutions. As a true maverick, Anant’s dream was to take pioneering technology to grassroots levels across India as he foresaw the next-gen of innovation coming from these centres. I hope that the ‘Anant Bajaj Limitless Ideas Hub’ will inspire many individuals to pursue their passion and give them a platform to turn their ideas into reality. This will be a befitting honour to his memory and legacy.” He added, “The Start-up Culture is this century’s Cultural Revolution transcending boundaries and constraints to give shape to dreams of several creative minds. Through the collaboration of industry and academia, I firmly believe that we can foster the growth of entrepreneurship in the country on a larger scale. Today, entrepreneurship is one of the critical proponents to achieving an Atmanirbhar Bharat.”
As an organisation rooted in the ethos of trust and sustainability, Bajaj Electricals has always strived hard to partner in India’s road to development. The ‘Anant Bajaj Limitless Ideas Hub’ is one such humble contribution towards uncovering limitless opportunities for fellow Indians.
Given the context of the on-going pandemic, the start-ups will benefit from a unique hybrid model to enable them to continue working from home but also use the physical infrastructure for collaboration, ideation and brainstorming sessions. In addition to providing a virtual address, flexible seating, pay per use models for common facilities, the hybrid packages will offer space for such specific requirements too. To add to this, the hub will also offer flexible plans to support passionate individuals and solopreneurs. Over the next 5 years, the Incubation Centre aims to support ~ 6,000 Indian entrepreneurs through capacity building and acceleration programs.
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About Bajaj Electricals Limited:Bajaj Electricals Limited, a globally renowned and trusted company, with a turnover of ₹INR 4,585 crores (FY 20-21), is a part of India’s leading business conglomerate “Bajaj Group”. With a business portfolio that spans across Consumer Products (Appliances, Fans, Lighting) and EPC (Illumination, Power Transmission and Power Distribution), Bajaj Electricals also has a strong presence in premium home appliance and cookware segments with brands like Morphy Richards and Nirlep. The company has an expansive network of 18 branch offices, 500+ distributors and more than 2.18 lakh + retail outlets across India combined with over 500 consumer care centres, fortifying its dominant presence in the consumer products sector. The portfolio under the EPC segment of Bajaj Electricals Limited includes EHV transmission line projects, EHV substations, monopoles for transmission and distribution, electrification projects, high mast and street lighting, sports lighting, industrial and commercial lighting, specialised illumination projects on turnkey basis and other solutions. Bajaj Electricals Limited has always lived up to its ethos of putting the consumer first and meeting its core brand value of “Inspiring Trust”. To know more about Bajaj Electricals Limited, please visit our website www.bajajelectricals.com
About CIIE.CO: CIIE.CO is “The Innovation Continuum” (www.ciie.co) that is built at the Indian Institute of Management, Ahmedabad. Founded in 2002, as an academic centre, CIIE.CO has grown to become one of India’s most successful start- up Incubation Centre. Today, this continuum spreads across incubation, acceleration, seed and growth funding, and research. CIIE.CO has accelerated over 600 entrepreneurs, funded over 250 start- ups, mentored and coached over 5,000 entrepreneurs and inspired over 700,000 with its publications, like Stay Hungry Stay Foolish. CIIE.CO received the National Entrepreneurship Award from the Government of India for being the best incubator in the country in 2019.