Indian Institute of Technology Delhi, or IIT Delhi, has signed an agreement with automotive major Sona Comstar to support innovative startups in the institute. IIT Delhi startups will receive mentorship and funds up to Rs. 80 lakh under this agreement, with an option to retain IP (Intellectual Property). The institute has said in a statement that this is a “first of its kind industry support programme” in the field of mobility.
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According to Mr. Kiran Deshmukh, Chief Technology Officer of Sona Comstar, the collaboration will “enable creation of new IP” and innovative “Make-in-India products”.
“IIT Delhi wants to engage with the industry to strengthen startup programmes in academia as this is a good way to quickly bring new technologies to market,” Prof. V. Ramgopal Rao, Director, IIT Delhi said in a statement.
The partnership is an opportunity for innovation, design, and development of indigenous technologies, according to Dr. Anil Wali, Managing Director of Foundation for Innovation and Technology Transfer (FIIT), IIT Delhi.