The country’s largest automaker Maruti Suzuki India is partnering with the Indian Institute of Management Bangalore (IIMB) to nurture 26 startups in the mobility sector.
The company, in collaboration with Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup hub at IIMB, has selected 26 mobility startups for a 9-month comprehensive incubation program, Maruti Suzuki India said in a statement on Friday.
The 26 startups were selected from over 400 applications received across the country. A selection panel consisting of experts from Maruti Suzuki and NSRCEL evaluated the applicants and interviewed more than 120 entrepreneurs.
In August 2020, the company had announced the partnership to help startups channel their efforts to bring industry-ready solutions and become large-scale companies.
“Through our partnership with IIM Bangalore, we are excited to foster and encourage some of the most innovative startups in the country,” said Maruti Suzuki India Managing Director and CEO Kenichi Ayukawa.
Networking events, mock presentations and interaction with investors will be the main highlights of the initiative. After that, the companies will have the chance to pitch for incubation and funding and the selected companies will go on for an incubation process of another six months.
Commenting on the importance of the collaboration, NSRCEL Chairman Venkatesh Panchapagesan said that mobility in India is evolving at a rapid pace and is expected to reach 90 billion by 2030, with significant growth expected in the areas of ride hailing, shared mobility and more.
“We are therefore proud to partner with Maruti Suzuki, with whom we share a similar drive, in developing mobility solutions for a better and more connected future. Together, we aim to bring a fresh perspective and innovative solutions to the existing mobility ecosystem,” added Panchapagesan.
Maruti Suzuki, with its vast experience and market leadership in the automotive industry, will be able to make a significant contribution to the development of the businesses here at NSRCEL, IIM Bangalore, and the start-up ecosystem in general, he added.
Maruti Suzuki partners with IIM Bangalore to train 26 startups in mobility sector