LIBA to incubate more than 10 Social Enterprises by 2020

Announces slew of initiatives to foster entrepreneurship among students
Chennai, October 24, 2016: Loyola Institute of Business Administration (LIBA), as part of its Prof.C K Prahalad Centre for Emerging India initiative, today announced the launch of an incubation centre for Start – ups with a key focus on Social Enterprises. Announced as part of LIBA’s Annual Convocation 2016,the centre is set to incubate over 10 start-ups by 2020. The Chief Guest Mr. Charles-Etienne VERDIER, Chairman & Managing Director, Renault Nissan Technology and Business Centre, India presided over the function and conferred the degrees.

Today, over 246 students (Full-time, part-time and MDC) received their Post-Graduation degree in various disciplines of Business Management. Gold medals were also presented to the outstanding students for their remarkable achievements.

At a time when India is witnessing a start-up boom, the centre has been established to promote the spirit of social entrepreneurship among students, faculty and alumni. The centre promises to set up an independent panel to select social enterprises and offer co-working spaces within the campus. In addition, it will make available a set of wraparound services including consulting services, training programs and networking events necessary to build a strong eco system for start ups.

Commenting on the occasion, Fr. Christie SJ, Director – LIBA, said “I congratulate the graduating students for the academic year 2015-2016. It has been yet another satisfying year for the faculty, staff and students at LIBA as we continue our journey towards pursuing excellence and ethics.”

Adding to this, Fr. Christie commented on the launch of the Incubation Centre, saying “We are at a juncture where India is growing as a hub of innovation at a rapid pace. The Prof. C K Prahalad Centre will focus on channelizing innovative solutions that address some of the persisting social, economic and environmental issues. With definite focus on making business work for bottom half of economic pyramid, the centre shall encourage new business ideas, business models and investment options. Entrepreneurs will be encouraged to set up impact / social ventures that involve, engage and benefit BoP segments. The Prof. CK Prahalad centre providing incubation services is sure to bridge the growing gap in the ecosystem by nurturing the spirit of social entrepreneurship attracting innovators, entrepreneurs, and investors”

Along with the incubation centre, LIBA also announced a number of initiatives to promote the spirit of entrepreneurship among students through its Centre of Excellence for Business Analytics and LIBA Informatics Centre, a CSR initiative of LIBA to involve students and faculty in supporting Tiny, Micro and Small enterprises.