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VMPL
Jamshedpur (Jharkhand) [India], December 20: XLRI Jamshedpur, India's oldest management school, today announced the establishment of a dedicated Rural Business Incubation Centre--the XLRI Centre for Innovation, Technology and Entrepreneurship (XCITE). The Centre has been set up with a significant grant from the National Bank for Agriculture and Rural Development (NABARD) and is aimed at catalysing sustainable, high-impact entrepreneurship in rural and semi-rural regions of the country. XCITE is envisioned as a platform to nurture early-stage, innovation-led enterprises in agribusiness and allied non-farm sectors with strong potential for growth, employment generation, and regional transformation. The Centre will focus on supporting entrepreneurs from 12 states including Bihar, Jharkhand, Odisha, West Bengal, and the 8 North-Eastern states, regions that possess rich resource endowments but remain under-served in formal entrepreneurial ecosystems. The Memorandum of Agreement (MoA) for the project is formally signed on December 19, 2025, marking a significant milestone in XLRI's long-standing engagement with rural development and inclusive growth. "The launch of XCITE reflects XLRI's deep commitment to its mission of 'Excellence with Integrity' and to creating meaningful impact beyond urban centres," said Fr. S. George SJ, Director XLRI Jamshedpur. On this occasion Prof. Saurav Snehvrat, Faculty in-charge of the incubation centre, announced that "ambition of XCITE is to become one of the country's leading rural business incubators--one that combines rigorous management expertise, grassroots understanding, and technology-enabled innovation to help rural enterprises scale sustainably." Prof Tata L. Raghu Ram, co-lead of the project, added "With NABARD's support, XCITE will offer a robust incubation ecosystem encompassing mentorship, business development support, market access, and financial linkages," and "We see this Centre as a bridge between promising rural ideas and viable, scalable enterprises that can transform local livelihoods and regional economies." NABARD supports eligible institutions across the country in establishing Rural Business Incubation Centres to strengthen entrepreneurial capacity, in agriculture and allied sectors. Through this initiative, NABARD aims to enable agri-startups and rural enterprises to transition from early-stage ideas to commercially viable ventures by providing structured incubation, technical guidance, and access to finance. XLRI and NABARD visualize XCITE as a centre of excellence that will foster a thriving entrepreneurial ecosystem in Eastern and North-Eastern India. About XLRI Jamshedpur XLRI-Xavier School of Management, established in 1949, is one of India's premier management institutions and the country's oldest business school. Known for its academic excellence and strong ethical foundation, XLRI is committed to developing responsible leaders who are sensitive to social realities and capable of contributing to the greater common good. The institution places particular emphasis on inclusion, sustainability, and engagement with marginalized communities. About NABARD The National Bank for Agriculture and Rural Development (NABARD) is India's apex development financial institution for agriculture and rural development. NABARD plays a pivotal role in advancing sustainable agriculture, strengthening rural livelihoods, and fostering inclusive growth through targeted policy support, development finance, and institutional capacity-building initiatives, including its support for Rural Business Incubation Centres across the country. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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