On Thursday, the Indian Institute of Technology, Bombay announced a collaboration with Maruti Suzuki India to drive startup innovation programmes.
The automaker announced a memorandum of understanding (MoU) with the Society for Innovation and Entrepreneurship (SINE), IIT Bombay, to broaden the reach of its startup innovation initiatives.
SINE will assist in the outreach and incubation of potential startups who can be part of Maruti Suzuki’s innovation programmes as part of the three-year MoU, it added.
Maruti Suzuki and SINE will collaborate to select startups for some of the company’s tough business concerns as part of the project.
They will screen applications together and organise seminars with mentors, industry experts, and investors.
“Our attempts to engage startups are consistent with the Prime Minister’s ‘Sabka Prayas’ philosophy of making India a global manufacturing hub.” “Our collaboration with IIT Bombay is an endeavour in this direction,” said Hisashi Takeuchi, Managing Director and CEO of Maruti Suzuki India.
SINE CEO Poyni Bhatt stated that Maruti Suzuki began its adventure 40 years ago with one automobile, the Maruti 800, and has since revolutionised the landscape of the automotive industry.
“As the business expands, there will be more prospects for aspiring startups.” “We are thrilled to be partnering with Maruti Suzuki, and we are confident that by using our combined strengths, we will be able to help entrepreneurs with innovative ideas scale to the next level,” she added.