India’s largest carmaker – Maruti Suzuki India Limited and one of India’s top B-schools – Indian Institute of Management Bangalore (IIMB) have decided to jointly nurture and mentor 26 startups in the mobility sector through a nine-month-long incubation program.
The selected startups will undergo a three-month pre-incubation period at Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup hub of IIMB. The startups will be engaged in numerous peer-to-peer learning activities and regular one-on-one mentoring and advisory sessions. The major highlights of the incubator will be various networking events, mock-pitches and interaction with investors.
After the 3-month period, the ventures will be allowed to pitch for incubation and funding. The selected startups will then go on a further six-month incubation journey.
Through our partnership with IIM Bangalore, we are excited to foster and encourage some of the most innovative startups in the country. The incubation program will help the startups become large scale businesses, and also help industry with practical and technology-led solutions that bring efficiency and value to business functions.” — Kenichi Ayukawa, MD and chief executive of Maruti Suzuki India.
“Mobility is evolving at a rapid pace in India and is projected to reach 90 billion by 2030, with significant growth expected in ride-hailing, shared mobility and more. We are therefore proud to collaborate with Maruti Suzuki, with whom we share a similar drive, in developing mobility solutions for a better and more connected future.” — Venkatesh Panchapagesan, chairperson at N.S. Raghavan Centre for Entrepreneurial Learning at IIM Bangalore
Maruti Suzuki has vast experience and market leadership in the automotive industry which will be extremely helpful for the development of the selected ventures at NSRCEL, IIM Bangalore and the start-up ecosystem of India.
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