The Ministry of Commerce and Industry announced the launch of Startup Academia Alliance to promote the ecosystem of entrepreneurship in India. The programme is a mentorship opportunity between academic scholars and startups that may be working in similar domains.
The Startup Academia Alliance aims to bridge the gap between scientific research and its business or industrial applications. This is, in turn, expected to improve efficacy of the technologies being founded and its impact. Reportedly, the alliance is also looking to create sustainable connections between stakeholders of India’s startup ecosystem and the third pillar upon which the Startup India Action Plan is based – Industry Academia Partnerships and Incubation.
As part of the initial phase of the Startup Academia Alliance, a partnership has been reached with Regional Centre for Biotechnology, The Energy and Resources Institute (TERI), Council on Energy, Environment and Water, and TERI School of Advanced Studies. Supposedly renowned scholars from within these institutes covering fields of renewable energy, healthcare, life sciences and biotechnology were will provide guidance and mentorship to startups working in the relevant areas.
In total, 133 applications were received for the Startup Academia Alliance which were hosted on the Startup India Hub. Out of these, 43 were shortlisted basis technological relevance and areas of operation by institutes. An emphasis was placed startups deploying innovative solutions to serious issues in diverse areas. The mentorships have already begun and it is expected to benefit the startups through the expertise and insight that comes with experienced research scholars – a report added.