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IIT Guwahati Spearheading Entrepreneurship Drive in Northeast India

By   /  May 27, 2024  /  Comments Off on IIT Guwahati Spearheading Entrepreneurship Drive in Northeast India

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Guwahati : Indian Institute of Technology Guwahati is leading the way in developing the entrepreneurial ecosystem in the Northeast region. The institute has formalized two Memoranda of Understanding (MoUs) to foster innovation, support startups, and enhance industry-academia collaboration in the region. These include collaborations with:

  • Assam Startup through Assam Industrial Infrastructure Development Corporation (AIIDC) to collectively promote entrepreneurship and impact programs through access of technology, industry, innovation, and value-added activities and programs
  • Federation of Indian Chambers of Commerce & Industry (FICCI) to solidify their commitment to fostering innovation and entrepreneurship in the Northeast

These individual MoUs were signed today, 27th May 2024, at the IIT Guwahati campus between Prof. Devendra Jalihala, Director, IIT Guwahati, and Mr. Chinmoy Prakash Phookan, ACS, Managing Director, AIIDC, and Mr. Sumeet Gupta, Assistant Secretary-General, FICCI, respectively. Other dignitaries present during the event included Mr. Rajarshi Sarma, COO, Assam Startup, Mr. Kankan Jyoti Khargharia, Community Manager, along with Prof. Subhendu Sekhar Bag, Associate Dean (R&D), Prof. Senthilmurugan Subbiah, Faculty in-charge, IITG – Technology Incubation Centre, and Prof. Parameswar K. Iyer, Dean PRBR from IIT Guwahati, among others.

Speaking during the event, Prof. Devendra Jalihal, Director, IIT Guwahati, said, “IIT Guwahati is proud to serve as a catalyst for innovation and entrepreneurship in the northeastern region and the entire country. Through our recent collaborations with FICCI and Assam Startup, we are hopeful that the collective measures and initiatives we aim to provide will help foster a vibrant ecosystem where budding entrepreneurs can transform their innovative ideas into successful businesses. This collaboration will further enhance our support for mentorship, funding opportunities, and market access, ensuring the Northeast emerges as a vital hub for global economic activity.”

MoU with Assam Startup through Assam Industrial Infrastructure Development Corporation

The Assam Startup Policy launched by the state government aims to catalyze the startup movement in the state by motivating the youth to become job creators and providing necessary ecosystem support so that they can pursue their entrepreneurial dreams. In pursuit of achieving this goal, the recent MoU has been signed in which IIT Guwahati and Assam Startup will:

–       co-incubate startups selected under various programs affiliated to both the organisations. In this IIT Guwahati will felicitate the mentoring and technological support, while Assam Startup will provide Business support.

–       Provide access to industry, innovation, and investors

–        Co-creating innovations across policy and programing with a goal of scaling impact and entrepreneurship

–       Support in research and development programs in innovation, technology for impact

–       To support each other by extending their respective institutional expertise including technology, knowledge, and management aspects

–       To conduct outreach, awareness activities and roundtable discussions in the area of common interest

In addition to this, IIT Guwahati will also facilitate the coordination between Assam Startup and various incubation centres, other startups and entrepreneurial activities in Assam.

Speaking during the event, Mr. Chinmoy Prakash Phookan, ACS, Managing Director, AIIDC, said, “AIDC, as the nodal agency for the development of the startup ecosystem under the Government of Assam, is proud to announce the signing of an MoU with IIT Guwahati. This partnership identifies core areas for collaboration aimed at fostering a strong and vibrant startup ecosystem in the region.”

As the next step in this collaboration, multiple regional colleges and universities in Assam will be equipped with startup ecosystems.

MoU with Federation of Indian Chambers of Commerce & Industry (FICCI)

The Federation of Indian Chambers of Commerce and Industry (FICCI), the apex chamber of commerce and industry in India, is committed to fostering economic growth and industrial advancement in the country. With the purpose of the MoU between FICCI and IIT Guwahati, a framework will be established to support entrepreneurial activities targeting Agriculture, Women Development, and Sustainability in the Northeast region.

Speaking during the MoU signing event, Mr. Sumeet Gupta, Assistant Secretary General of FICCI, said, “FICCI aims to play a pivotal role in empowering startups in the Northeast, driving economic growth, and positioning the Northeast region as a significant contributor to the nation’s economy on a global stage. Our collaboration with IIT Guwahati will further strengthen this initiative, combining academic expertise with industry support to create a robust startup ecosystem.”

Speaking during the event, Prof. Senthilmurugan Subbiah, Faculty in-charge, IITG – Technology Incubation Centre, IIT Guwahati, said, “This innovative catalyst will unite the seven states under one umbrella, significantly enhancing the entrepreneurial ecosystem. It will multiply the number of successful entrepreneurs emerging from the Northeast region of India, fostering unprecedented growth and collaboration.”

As part of its continuous effort, IIT Guwahati also launched a 6-Week Residential Bootcamp with a total of 51 startup participants from the Northeast region. Designed to provide a robust platform for aspiring entrepreneurs, equipping them with the skills and knowledge needed to succeed in the competitive startup ecosystem, the program will host extensive expert sessions, mentoring support, and financial aid opportunities for budding entrepreneurs.

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