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IIT Madras and CII join hands to promote innovative green startups

10 September 2019    |    48 Views

IIT Madras and Confederation of Indian Industry (CII) are going to collaborate to nurture and promote innovative green start-ups across the country. This initiative will enable brainstorming sessions between academia and industry to create deep-tech and disruptive research ideas and help start-ups gain industry access for pilot demonstrations of their cleantech ideas.

Towards these objectives, a Memorandum of Understanding was signed on August 31, 2019, at Hyderabad between Gopalakrishnan-Deshpande Centre for Innovation and Entrepreneurship (GDC), Indian Institute of Technology Madras and CII- Sohrabji Green Business Centre (CII-Godrej GBC) to nurture and promote innovative green startups on the occasion of the 15th anniversary of the CII - Sohrabji Godrej Green Business Centre.

What will the IIT Madras CII tie-up bring to green stratups?

This collaboration will facilitate novel research ideas and innovative ventures in the cleantech space that would be trained and mentored by GDC at various academic institutions across India, and enabling the startups so created in reaching out to industry for networking and business opportunities as they seek to scale.

What are the main objectives of the IIT Madras- CII tie-up for green startups?

The key objectives/advantages of this collaboration include:

1. Enabling start-up teams in GDC’s programmes from all over India to discuss their innovative ideas in the cleantech space with established industry players in their initiatives for Customer discovery and business model design.

2. Facilitating the engagement of start-up teams from GDC with leaders in the cleantech industry to validate their Prototypes, Minimal Viable Products, and implement pilot studies as may be required in their quest for scaling up.

3. Connecting established players in the cleantech industry with young and talented entrepreneurs from the best research institutions across India and familiarising themselves with cutting-edge and disruptive technologies of tomorrow.

Why do we need cleantech and green energy now?

Speaking about the outcomes of this collaboration, R. Raghuttama Rao, Chief Executive Officer, GDC - IIT Madras, said, "Our experience is that start-ups in the Cleantech and Green businesses form 20-25% of the disruptive ideas emanating the research labs of IITs and other institutions."

"The MoU with CII will enable the young researchers and entrepreneurs to validate their ideas and assumptions with experienced industry veterans, thereby helping in creating more robust start-ups," he said.

This collaboration will help provide a platform for startups and founders of GDC-mentored teams at major events such as Green Building Congress, Energy Summit GreenCo Summit and Green Power to network and reach out to industry.

Capacity-building programmes for Cleantech entrepreneurs being mentored by GDC will also be conducted focussing on industry trends and requirements

Highlighting the need for such initiatives, Mr Jamshyd N Godrej, Chairman, CII- Godrej GBC, said that with the climate challenges that the world is facing today, there is so much to be done, ahead of us.

The need of the hour is to design and develop models, which are ecologically superior and economically viable, he said.

Green entrepreneurs and start-ups have an important role in addressing ecological issues and concerns and this MoU will facilitate the same, highlighted Godrej.

About Gopalakrishnan-Deshpande Centre for Innovation and Entrepreneurship (GDC)

GDC is an alumni-funded centre for innovation and entrepreneurship at IIT Madras, providing the necessary thought leadership and networking impetus to help in building the systems and processes that enable innovative and entrepreneurial thinking in STEM universities across India.

Its mandate is to work with STEM colleges across India to implement a Lab to Market’ mission by helping faculty, researchers, students and entrepreneurs commercialise their research ideas by helping them develop robust start-ups that positively impact India.

In order to curate research ideas into sustainable business ventures that impact society at scale, GDC works with stakeholders from academia, industry, finance, and government.

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