October 14, 2021: IIT Bombay, Society for Innovation and Entrepreneurship (SINE) has collaborated with Software Technology Parks of India (STPI) to strengthen the startup economy and foster entrepreneurship.
The non-financial MoU is signed between IIT Bombay, and Software Technology Parks of India (STPI), an organization under the Ministry of Electronics and Information Technology (MeitY), AIC STPINEXT Initiatives (STPINEXT).
@SINEIITB signs MoU with STPI Pune & STPINEXT for MOTION-Centre of Excellence, in the presence of Prof. Subhashish Chaudhari, Director IIT Bombay and Dr.@Omkar_Raii DG #STPIINDIA
— SINE IITB (@SINEIITB) October 12, 2021
This will help expand the reach of startups, in gaining from the strength of both the organisations. pic.twitter.com/5u741xNhG5
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Under this collaboration, the SINE (Society for Innovation and Entrepreneurship) of IIT Bombay along with STPI will work together towards building the expertise and knowledge to support startups facilitated at STPI Motion, Pune.
Referring to the initiative of STPI MOTION, Pune and IIT Bombay, Dr. Omkar Rai, DG, STPI said, “The signing of MoU between STPI, STPINEXT, and SINE, IIT Bombay will further strengthen collaborations among various stakeholders"
"Start-ups incubated at MOTION CoE can hugely leverage the expertise and domain knowledge of SINE to rise the value chain" he further added.
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STPI Motion, Pune is a facility that offers various expertise and support to startups working in Autonomous, Connected, Electric, and Shared (ACES) Mobility at Pune. The organization is supported and facilitated by MeitY.
As of now, the STPI Motion has supported various startups and has created over 25 Centres of Entrepreneurship (CoEs) in emerging technologies in the country. The CoEs are well-known centers with state-of-the-art facilities that offer necessary laboratories in ACES.
At the STPI ACES laboratory, the organizations offer support to startups by providing training, mentoring, marketing, access to funding resources, IPR/ patenting assistance, along with other facilities.
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While talking about the MoU, Prof. Subhasis Chaudhuri, Director of IIT Bombay said, “The journey we are beginning today is a notable step towards strengthening the startup ecosystem in the country and enabling startups to leverage the benefits while they are getting incubated and beyond when they want to transform their successful incubation into a business venture.”
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