Management institute sets up an incubation centre

Great Lakes Institute of Management launched Atal - Great Lakes - Balachandran – Incubation (AGBI) Centre on its premises on Monday. The centre was opened in association with the Atal Innovation Mission. The Great Lakes Institute of Management is one of four B-schools in the country to receive this grant.

The event was attended by Ramanan Ramanathan, Mission Director of Atal Innovation Mission, NITI Aayog, T.V. Somanathan, Principal Secretary, State Planning and Development Secretary, Shailendra Tipparaju, Vice Chairman, Advisory Board – AGBI, founder - Colosseum Group and president TIE Chicago and Arvind Purushothaman, SVP & Head, Cloud and Data, Virtusa.

Hub of entrepreneurs

Sharing his thoughts on the new incubation centre, Dr. Bala V. Balachandran, founder, chairman of the board and dean emeritus, Great Lakes Institute of Management, said, “Here, we strive to make an impact in the competitive world by doing things differently. Great Lakes will be one of the first B-schools in the world from where entrepreneurs will graduate.”

Dr. Somanathan said, “A few years ago words like angel investor, incubator and unicorn just had only dictionary meaning; today, they are all terms used in the start-up industry.

“India has today become a hub of start-ups and the sector is thriving. India ranks 3rd in most number of business incubators after China and the US. Amongst a large number of start-ups in the country, it is important that we focus and nurture ideas that will have a positive social impact,” he added.