Maruti Suzuki India Limited has signed an MoU with Society for Innovation & Entrepreneurship (SINE), Indian Institute of Technology, Bombay to expand the reach of its innovation programs for startups.
As part of the three-year MoU, SINE will support in outreach and incubation of potential startups who can be part of Maruti Suzuki’s innovation programs. Maruti Suzuki and SINE will jointly shortlist startups for some of the complex business problems identified by the company. They will together screen applications, organize workshops with mentors, industry experts and investors. After thorough validation, selected startups will get an opportunity to present their solutions at a demo day.
Mr. Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited said, “At a recent event Hon’ble Prime Minister, Mr. Narendra Modi urged corporates to engage with startups in a focused manner and benefit mutually by collaborating. He convincingly said that by joining hands with young startups, established industry players can create an ecosystem of innovation and manufacturing in the country and bring glory to India in the world of startups. Our efforts to engage startups aligns with Hon’ble Prime Minister’s mantra of ‘Sabka Prayas’ to make India a global manufacturing hub. Our tie-up with IIT Bombay is an effort in the direction.”
Ms. Poyni Bhatt, CEO, Society for Innovation & Entrepreneurship at Indian Institute of Technology Bombay said, “It is a great honour for SINE to partner with India’s leading passenger vehicle manufacturer, Maruti Suzuki. 40 years ago, Maruti Suzuki started its journey with one car, the Maruti 800. Today, it has changed the landscape of automotive industry. As the industry is set to further grow, it brings many opportunities for budding startups. We are excited to partner with Maruti Suzuki and by leveraging our combined strengths, we are set to enable startups with innovative solutions to scale to the next level.”
