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Indian Institute of Technology (IIT) Delhi has announced that it has signed an agreement with Sona Comstar, a leading automobile component manufacturer.
Under this agreement, IIT-Delhi will receive support, funding, and mentorship for innovative startups.
The Sona Comstar is an Indian origin, global automotive systems and components manufacturer with revenue of Rs. 1,500 crore and has 10 plants spread across India, China, Mexico, and the US.
Kiran Deshmukh, Chief Technology Officer of Sona Comstar said he is hopeful that this partnership will enable the creation of new IP and innovative "Make-in-India products".
"IIT Delhi wants to engage with the industry to strengthen startup programmes in academia as this is a good way to quickly bring new technologies to market," Professor V. Ramgopal Rao, Director, IIT Delhi said in a statement.
Moreover. Startups working in the area of e-mobility can apply under this program and each of the selected startups can get up to Rs.80 lakh grant with the option to retain its IP.
According to Dr. Anil Wali, Managing Director of Foundation for Innovation and Technology Transfer (FIIT), IIT Delhi, the collaboration will help in the design and development of indigenous technologies.
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