- Ansal University & Sam Circle Venture LLC to set up India International Innovation Institute
Ansal University & Sam Circle Venture LLC to set up India International Innovation Institute
NEW DELHI, JULY 12: Ansal University signs MoU with Sam Circle Venture LLC, a venture development firm, to set up India International Innovation Institute (i4) Centre at the campus. The partnership is envisioned in developing specific initiatives with identified alliance institutions of India International Innovation Institute, Detroit.
The MoU was signed by Prof. (Dr.) Raj Singh, Vice-Chancellor, Ansal University, and Amber Malhotra, CEO and Managing Partner, Sam Circle Venture LLC. The alliance intends to promote new venture development, commercialization of new products and scaling up of new ventures through market penetration.
As per the mutually agreed terms of MoU, i4 center will provide services like venture development, commercialization, training, etc. to Ansal University on an annual basis. The idea is for i4 to work with Ansal university to identify problems to be structured into challenges for the development of a new venture and also, provide access to i4 commercialization program & pathways, where faculty and students can submit their business plan and get an opportunity to visit i4- Detroit.
Addressing at the MoU signing, Prof. (Dr.) Raj Singh, Vice-Chancellor, Ansal University, said, “We are delighted to take this association ahead with Sam Circle Venture and act as an implementing partner for technology transfer and innovation programs of alliance institution. Sam Circle is an entity known for promoting the importance of innovation center for endorsing entrepreneurship and Innovation in India. Our aim is to partner with them and address the need of the hour by focusing on new innovations and entrepreneurship training at the college level. We also intend to promote new venture development skills so that our students are well-trained when they set foot outside the college premise”.
Adding to this, Amber Malhotra, CEO, and Managing Partner, Sam Circle Venture LLC, said, “India needs to develop its universities capabilities in research, commercialization and educational content to create a larger social and economic impact in the geographical regions they are located. I4 Centre at Ansal University would provide access to i4 affiliated institutional partners to create collaborative initiatives for the development of employability and entrepreneurship".