Udit Vani, Jamshedpur : Dr. Shaji K.V., Chairman, National Bank for Agriculture and Rural Development (NABARD) inaugurated a Rural Business Incubation Centre at XLRI Jamshedpur today. T.V. Narendran, Chairman (BoG) of XLRI and CEO & Managing Director, Tata Steel graced the occasion. The Board of Governors (BoG), XLRI-Xavier School of Management, Jamshedpur were also present along with Fr. Sebastian George, S.J. (Director, XLRI), Fr. Donald D’Silva (Dean-Administration, XLRI) and Prof Sanjay Patro (Dean, Academics, XLRI) on the occassion.
XLRI Council for Innovation Technology and Entrepreneurship (XCITE) will nurture impact-driven agri-business, rural innovation, and circular-economy ventures across 12 states in Eastern and North-Eastern India (4 Eastern: Bihar, Jharkhand, West Bengal, Odisha and 8 North Eastern- Assam, Meghalaya, Mizoram, Nagaland, Manipur, Sikkim, Tripura, and Arunachal Pradesh). XCITE will operate on a “social impact first, profit second” philosophy, with strong emphasis on tribal livelihoods, women-led enterprises, sustainability, and inclusive innovation. The rural business incubation centre is the first such NABARD funded incubator based in an Indian business school.
Focus on 12 States :
XCITE will be a nodal centre for promotion of entrepreneurship in Eastern and Northeastern India. The creation of XCITE is a feather in the cap of Jamshedpur and Jharkhand as startups from 12 Indian states will be mentored and developed at XLRI.
This development also provides necessary resources, mentoring, funding, grants, and exposure to startups interested in the agri-, rural, sustainability, circular economy, tribal, and women led entrepreneurship. The vision of XCITE is to be the preeminent incubator transforming rural landscapes, nurturing Agri-preneurs, and powering a circular future through innovation and collaboration.
