IBEF: August 21, 2020
In order to increase its engagement with start-ups in the area of mobility, India's largest carmaker Maruti Suzuki India entered in a partnership with Indian Institute of Management, Bangalore (IIMB).
This is first-of-its kind initiative taken by the company that will help the early-stage start-ups in becoming a large-scale business. There will be a 3-month (pre-incubation) and 6- month (incubation) engagement period for mobility start-ups at the Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the start-up hub and incubation centre of IIMB.
Maruti Suzuki India said that it expects to provide aid to start-ups working in technology-based innovations that can be applied in the mobility sector.
“Mobility start-up incubation program addresses the needs of early stage start-ups, which have potential of becoming large-scale businesses. This partnership with IIMB will spearhead innovation in mobility space. The Indian start-up community provides much needed impetus to Hon’ble Prime Minister’s vision of Start-up India. The tie-up is aimed to nurture the next generation companies that will define future mobility solution and can make a significant contribution to create jobs," said Mr Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India.
In January 2019, the company had introduced MAIL (Mobility and Automobile Innovation Lab) to support start-ups by co-creating innovative business solutions in the mobility space.
Prof Venkatesh Panchapagesan, Chairperson, NSRCEL, said “Our mobility program provides start-ups the practical expertise of a leader like Maruti Suzuki with the incubation support depth and experience of NSRCEL. We will leverage the broader IIM Bangalore’s network of faculty, students and alumni as well as the expertise and counsel of a host of partner institutions who are active in this domain."
Aid will be provided to start-ups under this program, where early stage start-ups will get incubation support and an opportunity for potential partnership with Maruti Suzuki to fast-track the growth of their venture. Maruti Suzuki will provide full support for need assessment, access to domain expert, investor connect, mentoring, guidance to regulations and demo day to catalyse growth to these start-ups.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.