New Delhi, February 1: In a bid to give an impetus to innovation in the startup ecosystem in the country, the IIT Kanpur Research and Technology Park and IIM Lucknow-Enterprise Incubation Centre (IIML-EIC) have signed a memorandum of understanding (MoU). The pact between the two world-class premier institutes would boost the entrepreneurial ecosystem and empower future innovators of the country. The two teams met over a zoom call for signing the MoU.

Abhay Karandikar, Director, IIT Kanpur and Chairman Board of Technopark, said that the association between the two top institutes will not only foster close linkages between academia and industry but will also open new avenues for resource sharing. The official further added that IIM Lucknow Incubator and Technopark are a part of academic powerhouses and bring unique values to the innovation ecosystem. We are delighted to partner with the IIM Lucknow Incubator to blend these strengths and leverage synergies. "We believe that this partnership has the real potential to make a deep and tangible impact on not only Uttar Pradesh but also the country at large," he added.

Anadi Pande of IIM-Lucknow said that as an emerging economy, one needs to fill in the institutional voids that have long existed to create something on the lines of the Silicon Valley and incubation and innovation is the only way out. "At IIM-Lucknow, we are deep into artificial intelligence and have many technology start-ups incubated with us. This MoU will facilitate a collaborative exchange of ideas and knowledge between our start-ups and IIT-Kanpur and Technopark companies and our faculty," he added.

India is witnessing an unprecedented boom in the innovation start-up ecosystem of the country. The association between IIT-Kanpur and IIM-Lucknow may serve as a benchmark for other IITs and IIMs to follow. In the current scenario the motto of "self-reliance" and 'Make in India' and start-up holds more prominence than ever before.