His appointment marks a decisive step toward expanding IIMCIP’s national reach, accelerating entrepreneurship across emerging India and advancing Aatmanirbhar Bharat and Viksit Bharat 2047 goals.
Backed by three decades in defence engineering, technology development and startup leadership, Dr Rai will strengthen IIMCIP’s role in building high-impact innovation clusters across Eastern and North-Eastern India.
Kolkata, West Bengal, India, December 2025 — IIM Calcutta Innovation Park (IIMCIP), one of India’s leading business incubators promoted by IIM Calcutta and dedicated to fostering entrepreneurship and innovation, today announced the appointment of Dr V. K. Rai as its new Chief Executive Officer (CEO).
Dr Rai is a distinguished technologist, former Naval Officer and national innovation leader with nearly three decades of experience across defence systems, marine engineering, advanced technology development and entrepreneurship-led national programmes. A Chartered Engineer and Fellow of the Institution of Engineers (India), he brings deep technical and strategic leadership shaped through senior roles in the Indian Navy, a Scientist ‘F’ position in the Technology Development Board, Department of Science & Technology and experience of working with global OEMs.
Welcoming the appointment, Ajay Jain, Chairman, IIM Calcutta Innovation Park, said, “Dr Rai’s exemplary career, spanning defence technology, strategic government assignments and deep engagement with startup innovation, makes him the ideal leader for IIMCIP at this juncture. His leadership aligns closely with our vision of shaping an innovation-driven, globally competitive economy and making meaningful contributions to the Viksit Bharat 2047 agenda. We are confident that he will accelerate IIMCIP’s mission and unlock new opportunities for entrepreneurs across India’s emerging cities and regions.”
Dr Rai’s appointment significantly enhances IIMCIP’s mission to build a world-class innovation ecosystem and expand its national footprint. The organisation’s commitment to fostering socially impactful ventures and its concerted efforts in enabling large-scale livelihood creation across India, particularly in Tier-2 and Tier-3 cities, will continue. A strategic focus on supporting startups in dual-use technologies and green innovation, directly contributing to the nation’s Aatmanirbhar Bharat priorities, would be initiated by Dr Rai.
Commenting on his appointment, Dr V. K. Rai said, “I am honoured to lead IIMCIP at a time when India is entering a phase of exponential growth as the world’s fourth-largest economy and the third-largest startup ecosystem. Innovation and entrepreneurship are central to the nation’s aspirations for Viksit Bharat 2047, and my focus will be to build on the strong foundation IIMCIP has created over the years. We aim to expand our national footprint and use our strategic position in the East as a gateway to fostering entrepreneurship across the North-Eastern states. By deepening our work in next-generation technologies, accelerating social and green innovation, and forging high-impact partnerships across government, industry and academia, we hope to empower entrepreneurs to create scalable solutions that advance India’s economic and social transformation.”
Before joining IIMCIP, Dr Rai held several critical positions in the Indian Navy, including Joint Director at the Directorate of Marine Engineering, leading the Propulsion System Integration team at the Directorate of Naval Design, contributing to key defence engineering programmes etc. During over two decades long service in the Indian Navy, Cdr (Dr) Rai has been commended twice by the CNS (in 2007, 2013) and once by C-in-C in 2008.
In 2019, he became the Founding Programme Director of iDEX-DIO, an initiative of DDP/ Ministry of Defence, where he played a pivotal role in the identification, funding and mentoring of startups, the development of advanced defence and dual-use technologies, significantly advancing India’s Aatmanirbhar Bharat vision.
Dr Rai later served as Scientist F & Project Head at the Technology Development Board (TDB), Department of Science & Technology, leading national awards project commercialization, mentoring technology innovators and anchoring global technology partnerships through GITA.
Dr Rai’s industry experience includes senior roles such as Senior Vice President at Zorya Mashproekt India and Advisor to Bharat Forge. Subsequently, he has advised and mentored startups in green technologies, defence innovation and advanced engineering through his venture, Green Technical Solutions.
Academic Excellence and Recognitions
Dr Rai holds a B.Tech in Marine (Mechanical) Engineering (JNU), an M.Tech in Mechanical Systems Dynamics & Control and a PhD in Advanced Signal Processing, both from IIT Kharagpur. He has pursued specialised training in Noise & Vibration, NDT, Propulsion System Integration, Naval Operations Analysis at IIT Delhi (DMS) and Machinery Condition Monitoring at IIT Bombay and various academia.
He also holds a PGDMS from JBIMS, Mumbai University and has a 6-month residential certificate in Management from IIM, Ahmedabad.
His contributions have been acknowledged with several prestigious awards and recognitions, including:
- Excellence Award (Startup Category), The Institution of Engineers (India), 2021
- Medal & Citation, Indian National Academy of Engineering (INAE), 2005
About IIM Calcutta Innovation Park (IIMCIP)
The IIM Calcutta Innovation Park (IIMCIP) is a not-for-profit (Section 8) company established under the aegis of the Indian Institute of Management Calcutta to promote entrepreneurship and innovation in India. Recognised by the Department of Science & Technology, Government of India, IIMCIP’s mission is to nurture innovative, socially impactful entrepreneurs who can drive inclusive growth.
Its core offerings span structured mentoring, capacity building, seed funding and access to markets and investors. To date, IIMCIP has mentored more than 2,000 startups and seed-funded more than 130 ventures, which have collectively raised over ₹2,000 crore and built a cumulative portfolio valuation of nearly ₹8,000 crore.
IIMCIP also works closely with government bodies, corporates and academia to strengthen India’s innovation ecosystem, foster high-impact collaborations and promote women’s entrepreneurship, with a special focus on underserved regions of the country.
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