It was originally set up in 2002 as a research institution with a grant pool from the Government of Gujarat, the Department of Science and Technology (India) and IIM Ahmedabad.

[5] In 2009, CIIE started an accelerator program, iAccelerator, which focused on startups in information and communication technology.

In July 2010, CIIE tied up with The Economic Times and the Department of Science and Technology, Government of India and launched 'Power of Ideas', a platform for aspiring and budding entrepreneurs.

[13] In 2009, CIIE.CO launched iAccelerator, which was the first accelerator program in India for startups offering mentorships, market connections and access to capital.

[14][15] iAccelerator program provides three-month residential mentorship and guidance to the batch of selected startups.

At the end of the incubation program, these startups pitch their innovation to early-stage angels and venture capitalists on the demo day.

In August 2018, as a part of Bharat Inclusion Initiative, CIIE.CO and J.P. Morgan collaboratively set up a $9.5 million financial inclusion lab, under which J.P. Morgan announced to provide up to $7 million over the next four years, making it the largest philanthropic commitment made by the banking giant outside the US.

The book featured stories of 25 MBA IIM Ahmedabad graduates who left their jobs to pursue entrepreneurship.

[22] In May 2022, CIIE.CO came up with another book, Startup Compass: How Iconic Entrepreneurs Got It Right, published by HarperCollins, written by IIM-A alumni Ujwal Kalra and Shobhit Shubhankar.

The book is based on the 'How to Start a Startup' series at IIM Ahmedabad and has comprehensive interviews by 15 Indian entrepreneurs, including Sanjeev Bikhchandani (Naukri.com), Deep Kalra (MakeMyTrip), Sachin Bansal (Flipkart), Falguni Nayar (Nykaa), Kunal Shah (CRED), Sahil Barua (Delhivery), Raghunandan G. (TaxiForSure).