Maruti Suzuki India (MSI) on Thursday said it has joined hands with the startup hub and incubation centre at the Indian Institute of Management, Bangalore (IIMB) to spearhead innovations in the mobility space.
The partnership with Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIMB would help to come up with innovations which could be then applied in the mobility sector, MSI said in a statement.
The collaboration marks first-of-its kind initiative by an automobile manufacturing company to help early-stage startups become large-scale businesses, it added.
The tie-up will be a three-month (pre-incubation) and six-month (incubation) engagement, the automaker said.
"The mobility startup incubation program addresses the needs of early stage startups, which have potential of becoming large-scale businesses. This partnership with IIMB will spearhead innovation in mobility space," MSI MD and CEO Kenichi Ayukawa said.
The tie-up is aimed to nurture next generation companies that will define future mobility solution and can make a significant contribution to create jobs, he added.
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Under this program, early stage startups will get incubation support and a chance for potential partnership with MSI to fast-track the growth of their venture.
Startups will get company's support for need assessment, access to domain expert, investor connect, mentoring, guidance to regulations and demo day to catalyse its growth.
The program will select professionals who have technology in various fields like digital, autonomous mobility and connected cars, among others. MSI had launched MAIL (Mobility and Automobile Innovation Lab) in January 2019, which supports startups by co-creating innovative business solutions in the mobility space.
The futuristic solutions being developed under MAIL initiative has a positive impact on company's business.
These solutions help to efficiently bring in technological advancements relevant to automobile business.