The Indian Institute of Management (IIM) Raipur has achieved another milestone as two of its startups from the Swavalamban–STEM Program, a joint initiative with the Small Industries Development Bank of India (SIDBI), have been recognised among the Top 5 startups in Chhattisgarh.
The honoured startups, Agrofab Sustainable Pvt. Ltd., founded by Mr. Karan Chandrakar, and Auroarts Pvt. Ltd., founded by Ms. Anuradha Sahu — were felicitated by the Hon’ble Chief Minister of Chhattisgarh, Shri Vishnu Deo Sai, during the Rajat Jayanti Rajyotsava celebrations organised by the Department of Commerce and Industries, Government of Chhattisgarh.
Emerging from over 1,800 applications, Agrofab Sustainable Pvt. Ltd. secured the first position, while Auroarts Pvt. Ltd. earned the fourth position, marking a proud achievement for IIM Raipur’s entrepreneurial ecosystem.
Speaking on the recognition, Prof. Sanjeev Prashar, Director-in-Charge, IIM Raipur, said,
“This achievement is a testament to the impact of our Swavalamban–STEM Program. It reflects IIM Raipur’s mission to nurture innovation-led entrepreneurship and drive sustainable growth through structured mentoring and incubation.”
Prof. Satyasiba Das, Dean–External Relations and Program Director of STEM, added,
“We are delighted to see our incubated startups making their mark on the state’s innovation landscape. The Swavalamban–STEM initiative, supported by SIDBI, continues to empower entrepreneurs who can transform ideas into scalable ventures that strengthen both the state and national economy.”
Sharing his experience, Mr. Karan Chandrakar, Founder of Agrofab Sustainable Pvt. Ltd., said,
“The IIM Raipur STEM Program has been a defining part of my entrepreneurial journey. It helped me refine our go-to-market strategy and clarify our growth vision. With this foundation, we aim to evolve into a ₹50-crore sustainable textile brand within the next five years, turning agricultural waste into high-value products that boost both environmental and economic sustainability.”
Ms. Anuradha Sahu, Founder of Auroarts Pvt. Ltd., shared,
“After over four decades as an artisan, I understood craft — but not commerce. The Swavalamban–STEM Program transformed my perspective, helping me build a viable business model around my art. IIM Raipur’s guidance helped me translate years of experience into a sustainable, growth-oriented enterprise.”
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Through the Swavalamban–STEM Program, IIM Raipur continues to nurture startups across diverse sectors such as AgriTech, EdTech, HealthTech, Sustainable Textiles, Manufacturing, Logistics, Environmental Solutions, and Beauty & Wellness. The initiative’s inclusive and innovation-driven approach is fostering a robust startup ecosystem in Chhattisgarh and beyond, empowering entrepreneurs to create lasting social and economic impact.
