Maruti Suzuki, country’s largest carmaker, has joined hands with Indian Institute of Management, Bangalore (IIM- Bangalore) to incubate startups working in technology-based innovations that later can be applied the mobility space.
The partnership with Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM us “first-of-its-kind initiative by an automobile manufacturing company to help early-stage startups become large scale businesses,” the company said in a statement on Thursday.
“This will be a 3-month (pre-incubation) and 6-month (incubation) engagement. Maruti Suzuki has launched ‘MAIL’ (Mobility and Automobile Innovation Lab) in January 2019, which supports startups by co-creating innovative business solutions in the mobility space,” the automaker added.
According to the company, the futuristic solutions being developed under the MAIL initiative have a positive impact on its business. “These solutions help to efficiently bring in technological advancements relevant to automobile business”, the statement said.
Speaking on the collaboration MSI MD and CEO Kenichi Ayukawa said, “The mobility startup incubation program addresses the needs of early stage startups, which have potential of becoming large-scale businesses. This partnership with IIM- Bangalore will spearhead innovation in mobility space.”
He added that the tie-up is also aimed to nurture next generation companies that will define future mobility solution and can make a significant contribution to create jobs.
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.