IIM-Calcutta Signs MoU With Assam’s Industries and Commerce Department

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The industry-institution collaboration discusses the startup policy and the role of educational institutions

Industries and Commerce Department of Assam has inked a Memorandum of Understanding (MoU) with Indian Institute of Management (IIM), Calcutta Innovation Park. The partnership aims to connect the run of operation and maintenance of startup Incubation Centre.

The meeting aimed to strengthen the startup movement in Assam and to further facilitate upcoming startups in the state. A discussion was also done on the startup policies and the role of educational institutions in India.

Soon inaugurate the ”Assam Hub”

Ravi Capoor, Additional Chief Secretary, Industries and Commerce Department told that the Assam Government had launched a Startup policy. He will soon inaugurate the Startup Incubation Centre named as Assam Hub at Ambari to facilitate the translation of innovative ideas into reality. It is expected that Assam Hub will be an ignition of the start-up movement to provide an office space, support services and other amenities.

Capoor confirmed that the department will soon launch Startup Yatra. It is defined as an awareness campaign in colleges of various districts to create a startup ecosystem in the state and generate an entrepreneurial mindset among the students.

The department commented that it intended to tie-up with educational institutions to form a pool which will become a reference point for the upcoming startups. The government will also provide a grant up to Rs 50 lakh per startup.

Out of Rs 50 lakhs, the idea to proof of concept will be given Rs 5 lakh and the rest of the grant will be utilised towards the purchase of raw materials, marketing and cost of commercialisation of products and services of startups. It is expected that the start-ups of Assam should be inclusive where the youths can leverage the strengths of the state and provide solutions within the society.