NSRCEL―the incubation arm of IIM Bangalore has signed an MoU with The Automotive Research Association of India (ARAI), Pune through the latter's innovation development platform, TechNovuus.
The collaboration aims to provide shared services for nurturing technology-based ventures or startups and helping to shape up new business models in India. The two signatories with their collective experience will also work towards influencing the tech-based startup ecosystems by providing mentorship in technology and business domains. This will help budding mobility-based startups and entrepreneurs to achieve sustainable business growth in the Indian startups' landscape, IIMB and NSRCL said in a press release.
"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," said Anand Sri Ganesh, COO at NSRCEL.
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.
IIMB will, in addition, also provide business mentorship to startups in the ARAI TechNovuus ecosystem. Furthermore, each institute will develop its mentor pool and appoint mentors respectively.
“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," said ARAI director Reji Mathai.