To promote incubation activities, startup ecosystem

Srinagar: The Innovation, Incubation and Entrepreneurship Development Centre (IIEDC), National Institute of Technology (NIT) Srinagar Wednesday signed an MoU with Foundation for Innovation & Research in Science & Technology (FIRST) to promote incubation activities and startup ecosystem in the region.

The MoU was signed between Director, NIT Srinagar Prof. (Dr.) Rakesh Sehgal and Prof. Ankush Sharma, Professor-In-Charge, Innovation & Incubation, IIT Kanpur.

Dean Research and Consultancy (R&C) NIT Srinagar, Prof. M F Wani, Registrar Prof. Syed Kaiser Bukhari, Head, IIED Centre, Dr. Saad Parvez, Dr. Nikhil Agarwal, CEO, SIIC (FIRST).

Dr. Sanchita Chaudhary, Vice President (Projects), SIIC, and Mr. Deepak Agarwal, Consultant SIIC, among other dignitaries were present at the occasion.

As per the MOU, both IIDEC NIT Srinagar and FIRST IIT Kanpur will understand the industrial strength of the region in terms of innovation and business activities.

On the occasion, Director, NIT Srinagar Prof. (Dr.) Rakesh Sehgal said the MoU will promote the idea of innovation, incubation amongst students, and technical manpower so as to develop new products and technologies.

Dean Research and Consultancy (R&C) NIT Srinagar, Prof. M F Wani said this MoU will boost the mutual coordination between the two startups. “I am confident that this partnership will help us reach out desired results,” he said.

Institute’s Registrar, Prof. Syed Kaiser Bukhari said the signing of this MoU will bring both organizations closer to serving society.

Prof. Bukhari said the goal of this MoU will be achieved within the given time frame. He also emphasized on establishing cross-linkages among various technological institutions to develop innovative ideas.

Dr. Saad Parvez, Head IIED Centre said both NIT Srinagar and FIRST will work together on more projects. “This collaborative move will bring synergy in finding novel and innovative solutions to the problems faced by the industry in the region,” he said.

FIRST, is a Company incorporated under section 8 of the Companies Act, Start-up Incubation and Innovation Centre (SIIC), IIT Kanpur to promote incubation activities and startup ecosystem in the region.

As per MoU, both parties will be understanding the industrial strength of the region in terms of innovation and business activities. “Strategically assisting in developing operations, governance, business and self-sustainability model for the Incubation Center. Mapping potential sources for raising funds including pitching to investors,” it said.

KR Desk