IIM Calcutta Innovation Park (IIMCIP), a business incubator promoted by IIM Calcutta, 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.
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.
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 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.”
