Innovation

NIFientreC funds grassroots innovation Startup in Rajasthan

NIFientreC sensitises India’s Startup movement by investing in grassroots innovation technology based enterprise. Rajasthan becomes the first state of the country to attract investment from NIFientreC.
NIFientreC funds grassroots innovation Startup in Rajasthan

Taking forward the mission of nurturing grassroots innovators in a “sanctuary of innovation” distributed all over India, NIFientreC (NIF Incubation and Entrepreneurship Council) invested in Geniusenergy Critical Innovation (GCI), a grassroots innovation technology based enterprise located in Jaipur, Rajasthan. Its distinction is that it saves Energy and Water by more than sixty per cent compared to conventional boilers.

Subhash Ola, founder of Geniusenergy Critical Innovation (GCI) is a Presidential Award winner grassroots innovator from Alwar, Rajasthan. He invented a very cost effective and energy efficient way of recycling steam to generate power and / or improving efficiency in textile, food, pharma, plywood industry etc. By virtue of using good science and intuitively smart technology, the machine was first developed to make khoya and other milk products, and portfolio of offerings / application was later extended to other domains. The current order book of Geniusenergy Critical Innovation (GCI) is nearly one crore rupees, and the entity is looking at a target of ten crore rupees by the end of 2016-17, which would make it one of the fastest growing enterprise of the country.

GCI has started a new manufacturing facility at RIICO Industrial Area, Behror, Rajasthan. Inaugurating the factory and speaking on the occasion, Prof Anil K Gupta, IIM Ahmedabad, Executive Vice Chairman – National Innovation Foundation – India (NIF) and Founder, Honey Bee Network has expressed hope that Subhash Ola and his team will continue to serve clients with utmost satisfaction, generate employment opportunities and be a role model for other grassroots innovators of the nation.

With NIFientreC investing in GCI, Rajasthan becomes the first state in India to attract investment from NIF’s specialized Technology Business Incubator (TBI) focused exclusively on grassroots innovation technologies. NIFientreC aims to further sensitize India’s Startup movement by investing in more grassroots innovation technology based enterprises.

NIFientreC (NIF Incubation and Entrepreneurship Council) is a NIF’s Technology Business Incubator (TBI), funded by National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India and was established with the idea of converting innovation into social and economic enterprise by linking these with investments. It promotes new grassroots innovation technology based ventures through mentoring, financial and networking support. It aims at speedy commercialization, creating knowledge network around each innovation like linking innovators and entrepreneurs with experts and professionals in technology, finance, design, supply chain management and logistics.

NIFientreC supports the idea of In-Situ incubation so as to promote distributed entrepreneurship by supporting innovators in different villages / towns where they come from so as to keep their connections with families and local communities intact. It also provides assistance in various other forms like IPR, Legal and Quality Assurance services, formulation of marketing strategy, preparation of business plans and support for obtaining legal clearance. 

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