To advance innovation programmes for startups, Maruti Suzuki India and the Indian Institute of Technology, Bombay teamed together on Thursday.
To broaden the scope of its innovation programmes for startups, the auto major said 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 startups that could participate in Maruti Suzuki’s innovation programmes 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 efforts to engage startups aligns with Prime Minister’s mantra of ‘Sabka Prayas’ to make India a global manufacturing hub. Our tie-up with IIT Bombay is an effort 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 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,” she added.