For the first time, Indian Institute of Technology-Madras (IIT) and Confederation of Indian Industry (CII) have entered into a Memorandum of Understanding (MoU) to promote innovative green start-ups in Tamil Nadu and across the country.
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 per cent of the disruptive ideas emanating the research labs of IITs and other institutions. The MoU would enable the researchers and entrepreneurs to validate their ideas and assumptions with experienced industry veterans, thereby helping in creating more robust start-ups.”
This collaboration would help provide a platform for start-ups 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 entrepreneurs being mentored by GDC would also be conducted focussing on industry trends and requirements. The key objectives include enabling start-up teams in GDC’s programs to discuss their innovative ideas with established industry players in their initiatives for customer discovery and business model design and facilitating the engagement of start-up teams from GDC with leaders in the industry to validate their prototypes, Minimal Viable Products, and implement pilot studies as may be required in their quest for scaling up.