In a bid to provide shared services for nurturing technology-based ventures or startups and helping to shape up new business models in India, NSRCEL, the incubation arm of IIM Bengaluru (IIMB), has signed an MoU with The Automotive Research Association of India (ARAI), Pune through the latter’s innovation development platform-TechNovuus.
According to NSRCEL, with their collective experience, the two signatories will also work towards positively influencing the tech-based startup ecosystems by providing mentorship in technology and business domains. Thus, it will help budding mobility-based startups and entrepreneurs to achieve sustainable business growth in the Indian startups’ landscape.
Under this partnership, NSRCEL will provide business mentorship to tech-based startups, and ARAI and its mentors will provide technical mentorship for mobility solutions to NSRCEL startups on a case-to-case basis.
Additionally, IIMB will also provide business mentorship to startups in the ARAI TechNovuus ecosystem. In addition, each institute will develop its mentor pool and appoint mentors, respectively.
Moreover, both institutes may work together to identify problem statements or challenges and assist in assessing technologies in the field of mobility. NSRCEL and ARAI will also promote their initiatives, development and events via mutual websites and social media platforms to expand their reach as a part of this collaboration.
Anand Sri Ganesh, COO, NSRCEL, said, “ARAI is the leading automotive R&D organization in India and we are extremely confident that our association will widen the horizon of growth in technology-based ventures for new-age business development in the coming days.”
Dr Reji Mathai, Director, ARAI, said, “The collaboration will open new opportunities for ventures to uplevel their technologies and solutions by leveraging ARAI’s experience, expertise and equipment. With TechNovuus’s rich resource pool and NSRCEL’s proven track record in successfully nurturing ideas and shaping up business models across segments, we are looking forward to helping ventures achieve scalable growth through this association.”