On the 25th of February, Maruti Suzuki India has finally announced the winners of its Maruti Suzuki Incubation Program. The three winners of this program are True Assistive, eShipz and Hycube Works. MSIP, commonly abbreviated as the Maruti Suzuki Incubation Program, is partnered with Nadathur S Raghavan Center for Entrepreneurial Learning (NSRCEL). IIM Bangalore founds NSRCEL for the benefit of the startups of their students. The winners, which are early age startups, will be able to undertake a paid proof of concept with Maruti Suzuki India limited for creating solutions for actual business use. This initiative would help these startups to plan their efforts and bring industry-ready solutions which will ease them into becoming large scale businesses. CEO and Managing director of Maruti Suzuki India Limited, Kenichi Ayukawa, after congratulating the winners of the MSIP said that the contribution of the three winners in the program has reinforced MSI’s belief in the role of innovation in shaping the industry. He also added that MSIP aligns with the government’s efforts to give focus and optimism to the startup ecosystem as it was established to work with young minds to strengthen the mobility space.
Maruti Suzuki is known for recognising the potential of energetic and dynamic startup teams, and this collaborative step with the prestigious Indian Institute of Management – Bangalore has strengthened the efforts to help guide these promising early age startups to grow exponentially. This program founded by Maruti Suzuki India limited equips these early age startups with the expertise of both industrial and institutional domains, which will inherit them in adopting open innovation and research, added by the CEO, Kenichi Ayukawa. Anand Sri Ganesh, the COO of NSRCEL – IIM Bangalore, said that these early age startups which were part of this program brought about unique solutions through high-risk disruptive technologies.
This program also helped students grab the required skill set to create highly scalable mobility solutions. We are excited to nurture many more futuristic solutions in the next cohort of the Maruti Suzuki Incubation Program, the COO of NSRCEL also added. There were a total of 400 applications registered for MSIP for the first cohort. After certain qualifying rounds, the top seven early-stage startups were selected by the experts of Maruti Suzuki and NSRCEL. These startups received training and mentorship from the domain experts of Maruti Suzuki along with venture capitalists to strengthen their solutions for actual use in the 6 – month incubation program. Investor guidance connect opportunities were also given to the winning startups. Maruti Suzuki Incubation program has now opened new applications from the early-stage startups for their second cohort.
To access more informative content on MBA & Management visit our Article Section on PaGaLGuY.Com