New Delhi: Indian Institute of Management Kozhikode (IIMK) has collaborated with Cochin Shipyard Limited (CSL) to support startups in the maritime sector. This collaboration is done by the IIMK's business incubator Laboratory for Innovation Venturing and Entrepreneurship (LIVE).
As per IIM Kozhikode, the collaboration will aim to offer various initiatives to startups and develop an ecosystem for supporting the startups in the maritime sector from the technical, regulatory, financial, and marketing points of view by bringing the stakeholders together.
The agreement was signed in the presence of Executive Director of IIMK LIVE, Professor Rajesh Upadhyayula, General Manager of CSL, Deepu Surendran, IIMK Director, Prof. Debashis Chatterjee, Chairman and Managing Director of CSL, Madhu S Nair on July 22, 2022.
Informing about this initiative, CSL officials said, "IIMK LIVE will act as an implementation partner of this initiative and will provide incubation, mentorship, and training to startups selected under this program".
IIMK Director, Prof. Debashis Chatterjee informed that the institute will aim to create an ideal platform for talented entrepreneurs to develop products and services in the marine space. They will also be offered financial support and mentorship by IIM LIVE and CSL.
"Our Innovation center LIVE has been at the helm of transitions for many successful early-stage startups and we foresee a renewed thrust on 'innovation' in the maritime sector with this game-changing collaboration”, he added.
With this, the startups will have the opportunity to receive funds up to INR 50 lakh to grow their businesses. The businesses will be able to grow their marine startups and help the development of the country.
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