IIT-K partners with defence PSU to focus on innovation
According to an official release from IIT-K on Monday, the partnership between SIIC and AW&EIL aims to provide financial support to the startup ecosystem and promote the incubation of new technology, knowledge, and innovation-based startups at IIT Kanpur under the CSR Policy of AW&EIL, Ordnance Factory.
IIT Kanpur`s technology business incubator, the Startup Incubation and Innovation Centre (SIIC), has signed a CSR Agreement with Advanced Weapons and Equipment India Limited, one of the seven new Defence Public Sector Undertakings (PSUs) formed by converting the Ordnance Factory Board into fully government-owned enterprises.
The agreement was signed at the Ordnance Factory Kanpur in the presence of dignitaries from SIIC, IIT Kanpur, and Advanced Weapons and Equipment India Limited (AW&EIL).
According to an official release from IIT-K on Monday, the partnership between SIIC and AW&EIL aims to provide financial support to the startup ecosystem and promote the incubation of new technology, knowledge, and innovation-based startups at IIT Kanpur under the CSR Policy of AW&EIL, Ordnance Factory.
The expected outcome of this partnership is the overall growth and progress of the country, as the startups that emerge from this cooperation are likely to contribute significantly to the economy and society in general.
Speaking on this collaboration, Prof. Ankush Sharma, Professor-in-Charge, SIIC, IIT Kanpur, said, "The partnership between SIIC and AW&EIL is expected to produce a powerful synergistic effect that draws on the expertise and resources of both organisations to nurture startups focused on cutting-edge technology at IIT Kanpur."
He said that through the provision of comprehensive financial and infrastructural support, this partnership aims to drive the growth of high-potential startups that prioritise innovation and stimulate economic growth.
The anticipated outcome of this collaboration is to establish a dynamic startup ecosystem that promotes revolutionary research and development, generates employment opportunities, and positions India as a leading innovator on the global stage, Prof. Sharma said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
02:28 PM IST