To broaden the scope of its innovation programs for startups, the car major claimed it had signed a memorandum of understanding (MoU) with the Society for Innovation and Entrepreneurship (SINE), IIT Bombay.
To support innovation programs for entrepreneurs, Maruti Suzuki India and the Indian Institute of Technology, Bombay joined together on Thursday.
To broaden the scope of its innovation programs for startups, the car major claimed it had signed a memorandum of understanding (MoU) with Society for Innovation and Entrepreneurship (SINE), IIT Bombay.
According to the statement, SINE will assist in the outreach and incubation of potential businesses that could participate in Maruti Suzuki’s innovation programs as part of the three-year MoU.
Maruti Suzuki and SINE will jointly shortlist startups for some of the challenging business issues the company has highlighted as part of the effort.
Together, they will review applications and plan workshops with investors, mentors, and business leaders.
“Our initiatives to work with entrepreneurs are in line with the Prime Minister’s theme of “Sabka Prayas” to turn India into a center of manufacturing, Our collaboration with IIT Bombay is an endeavor in this direction, said Hisashi Takeuchi, managing director and CEO of Maruti Suzuki India.
SINE CEO Poyni Bhatt highlighted that Maruti Suzuki began its journey with a single vehicle, the Maruti 800, forty years ago, and that the company has since transformed the automotive industry.
“As the market continues to expand, it presents numerous chances for fledgling firms. We are thrilled to work with Maruti Suzuki, and by combining our respective capabilities, we are poised to help businesses with creative solutions grow to the next stage “, the spokeswoman added.