Good news for all startups being incubated at their innovation centres as they would soon be receiving expertise in technology and management from International Institute of Information Technology-Bangalore (IIIT-B) and Indian Institute of Management Bangalore (IIMB) as per the new memorandum of understanding (MOU).
Suresh Bhagavatula, professor and chairperson, NS Raghavan Centre for Entrepreneurial Learning at IIMB, said, “IIMB and IIIT-B, from their collective experience in nurturing entrepreneurs and startups over the past decade, recognise their mutual interest in positively influencing the technology startup ecosystem in India and the importance of collaborating with each other to nurture early-stage technology ventures and help them in shaping appropriate business models.”
The main objective is to provide technology and business mentorship to the young technology startups and help the entrepreneurs achieve sustainable business growth.
The NS Raghavan Centre for Entrepreneurial Learning at IIMB is an open incubation centre that nurtures early-stage start-ups and currently incubates 18 companies focused on providing scalable and sustainable solutions. NSRCEL’s mission is to take ideas to implementation through a structured mentoring program.
Srinivasan, professor and director-in-charge, IIM Bangalore, “I am sure this collaboration will be a win-win situation for both the institutions and the startups.”
The IIIT-B Innovation Centre was started in 2009 and is currently incubating 17 startup companies that are developing innovative IT-based products to solve problems in areas such as healthcare, transportation and energy.
Professor S Sadagopan, director, IIIT-B, said: “It is a much needed and one-of-its-kind model of cooperation between two premier Indian institutes for the benefit of the startup community.”
“World over, startup companies look to mentoring and networking support provided by the incubators. Startup companies incubated by these centres will now have access to a broader range of mentoring skills, both in the areas of technology and management, thereby enhancing the probability of their success,” added Sadagopan.