IIT Bombay, Maruti Suzuki joins hands to expand innovation programmes for startups

NEW DELHI: Maruti Suzuki India on Thursday said it has partnered with Indian Institute of Technology, Bombay to drive innovation programmes for startups. The auto major said it has inked a memorandum of understanding (MoU) with Society for Innovation & Entrepreneurship (SINE),

IIT Bombay to expand the reach of its innovation programs for startups. As part of the three-year MoU, SINE will support in outreach and incubation of potential startups who can be part of Maruti Suzuki's innovation programs, it added.

As part of the initiative, Maruti Suzuki and SINE will jointly shortlist startups for some of the complex business problems identified by the company. They will together screen applications, organise workshops with mentors, industry experts and investors.

"Our efforts to engage startups aligns with Prime Minister's mantra of 'Sabka Prayas' to make India a global manufacturing hub. Our tie-up with IIT Bombay is an effort in this direction," Maruti Suzuki India Managing Director & CEO Hisashi Takeuchi noted.

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SINE CEO Poyni Bhatt noted that 40 years ago, Maruti Suzuki started its journey with one car, the Maruti 800 and today, it has changed the landscape of the automotive industry.

"As the industry is set to further grow, it brings many opportunities for budding startups. We are excited to partner with Maruti Suzuki and by leveraging our combined strengths, we are set to enable startups with innovative solutions to scale to the next level," she added.