Startups Current Affairs - 2019
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IIM Calcutta Innovation Park, ICC sign MoU for energising startup ecosystem in East and Northeast India
IIM Calcutta Innovation Park and Indian Chamber of Commerce (ICC) signed Memorandum of Understanding (MoU) for energising start-up ecosystem in East and Northeast India. The MoU will bring incubator and industry toghether in more formal way. IIM Innovation Park is currently incubating 40 start-ups with almost half from West Bengal.
ICC has wide industry connect which will IIM Calcutta Innovation Park to promote start-ups whom it is incubating. It will offer platform for market linkage for start-ups and promote their products and services especially from eastern and northeastern region which need greater attention in startup growth story of the country. ICC is currently working on new program that aims to offer all key services under single roof at very low cost for start-ups beginning from initial advisory, market linkage, fundraising and legal service.
Indian Chamber of Commerce (ICC)
It is premier body of business and industry in Eastern and North-Eastern India. Its membership comprises several of largest corporate groups in the country, with business operations all over country and abroad. It was established in 1925 by group of pioneering industrialists led by Mr G D Birla. It is only National Chamber of Commerce operating from Kolkata. It is also only chamber from India to win first prize in World Chambers Competition in Quebec, Canada.
State-owned ITI Limited has signed agreements with leading startups and original equipment manufacturers (OEMs) covering manufacturing of wide range of ICT-IOT (Information and communications technology- Internet of Things) based solutions. The agreements were signed on the sidelines of the first edition of ITI’s two-day ‘ICT & IoT Startup Tech Expo’ in Bengaluru, Karnataka.
The agreements with leading startups and OEMs covers manufacturing of civil and military advanced radar systems, advanced edge router systems, data storage and networking solutions, next generation 5G technology products, digital security solutions, advanced metering solutions and wi-fi products and solutions. This will help to promote effective platform for startups to convert their innovative ideas into marketable products and services. It will also help ITI diversify its’ manufacturing capabilities in partnership with startups, thereby supporting sustainable turnaround of ITI. It is also in line with draft National Digital Communications Policy 2018 which emphasizes domestic manufacturing of digital communications equipment and components and aims to introduce Phased Manufacturing Program for identified product segments.
ITI Limited- TEC New Delhi partnership
ITI Limited has also entered into agreement with Telecommunication Engineering Center (TEC), New Delhi for establishment of state-of-the-art telecom testing labs at its Bengaluru plant to facilitate mandatory testing of imported and indigenous telecom equipment in India.