GS 3: Indian Economy | Planning, mobilization of resources, growth, development and employment

Why in news?

• IIM Calcutta Innovation Park and Indian Chamber of Commerce (ICC) have signed a Memorandum of Understanding (MoU) for energising the start-up ecosystem in East and Northeast India.
• The MoU will bring the incubator and industry toghether in a more formal way.IIM Innovation Park is currently incubating 40 start-ups with almost half from West Bengal.

Highligts:

• ICC has a wide industry connect which will help IIM Calcutta Innovation Park to promote start-ups whom it is incubating.
• It will offer a platform for market linkage for start-ups and promote their products and services especially from eastern and northeastern region which need greater attention in the startup growth story of the country.
• ICC is currently working on a new program that aims to offer all key services under a single roof at a very low cost for start-ups beginning from initial advisory, market linkage, fundraising and legal service.

Indian Chamber of Commerce (ICC):

• It is a premier body of business and industry in Eastern and North-Eastern India.
• Its membership comprises several of largest corporate groups in the country, with business operations all over country and abroad.
• It was established in 1925 by a group of pioneering industrialists led by Mr G D Birla.
• It is the only National Chamber of Commerce operating from Kolkata.
• It is also the only chamber from India to win first prize in World Chambers Competition in Quebec, Canada.