It is a first of its kind of initiative taken by an automobile manufacturer to help startups turn into large scale businesses. The engagement will be 3 months for pre-incubation and 6 months for the incubation period for startups. The hub and center for mobility startups would be at the Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) of IIMB.
Maruti Suzuki India stated that the collaboration would help startups in technology-based innovation for mobility sector applications. The incubation program aims to address the need for early-stage startups to become large scale businesses. The Indian startup community also provide the required incentive to PM Modi’s vision of Startup India.
The partnership would also nurture the next-gen companies to define the mobility solution in the future. It would also help them to make a significant contribution to employment, stated Kenichi Ayukawa, MD, and CEO, Maruti Suzuki India.
Startups to Have a Chance for Potential Partnership with the Automaker Maruti Suzuki
In January 2019, the company also launched Mobility and Automobile Innovation Lab (MAIL). It supports startups by co-creating innovative business solutions in the automobile sector (1).
According to the Venkatesh Panchapagesan, Chairperson of NSRCEL, the mobility program would provide startups practical expertise from a leader like Maruti Suzuki. They would also get the incubation support depth and experience from NSRCEL. The firm would leverage the considerable network of faculty students and alumni of IIM Bangalore. Further, the startups would also get the expertise and counsel of partner institutes active in the automobile sector.
The early-stage startups would get the support for incubation and a chance to get a potential partnership with Maruti Suzuki under this initiative. As being a part of the program, startups would be able to fast-track their venture growth.