Maruti Suzuki India : announces winners of 1st Cohort of its incubation program with IIM Bangalore

Press Release

Maruti Suzuki announces winners of 1st Cohort of its incubation program with

IIM Bangalore

• Startups 'True Assistive', 'eShipz' and 'Hycube Works' get opportunity to undertake a paid
• • 
    Proof-of-Concept
  • Applications open for the 2nd Cohort of Maruti Suzuki Incubation Program

New Delhi, 25 February, 2022: Maruti Suzuki India Limited today announced winners of the 1st Cohort of Maruti Suzuki Incubation Program (MSIP). MSIP is a first-of-its-kind initiative by the Company to help startups channelize their efforts to bring industry-ready solutions and become large scale businesses. It is set up in partnership with Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup hub at Indian Institute of Management Bangalore (IIM-Bangalore). The winning startups are 'True Assistive', 'eShipz' and 'Hycube Works'. These early-stage startups will now get an opportunity to undertake a paid Proof-of-Concept with Maruti Suzuki India Limited to co-create solutions using high-value disruptive technologies for actual business use.

Speaking about the incubation program, Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited said, "My heartiest congratulations to the winning startups. Your contribution to the program has reinforced our belief in the role of innovation in shaping the industry. Established with an aim to work together with young minds to strengthen the

mobility space, MSIP aligns with Government's focus and optimism in the startup ecosystem. At Maruti Suzuki, we recognize the potential of dynamic and energetic startup teams. Our collaboration with IIM-Bangalore, a prestigious business school, has strengthened

our efforts to nurture and hand-hold these promising early-stage startups. The program is a testament of strong industry-institution partnership to equip these startups and infuse expertise of both domains, resulting in agility to adopt open innovation and research."

Congratulating the startups, Mr. Anand Sri Ganesh, COO, Nadathur S. Raghavan Centre for

Entrepreneurial Learning (NSRCEL), IIM-Bangaloresaid, "The early-stagestartups which were a part of the program brought about unique solutions through high-riskdisruptive technologies. We are happy to work alongside Maruti Suzuki to extend a dynamic innovation environment to these startups. The program also helped startups cultivate skill sets to equip them to create highly scalable mobility solutions. We are excited to nurture many more futuristic solutions in the next cohort."

Maruti Suzuki Incubation Program

Maruti Suzuki Incubation Program (MSIP) has been established in partnership with Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup hub at Indian Institute of Management Bangalore. This is a first-of-its-kind initiative by an automobile manufacturing company to help startups channelize their efforts to bring industry-ready solutions and become large scale businesses. MSIP received over 400 applications for the 1st Cohort. After a series of evaluation rounds by experts from Maruti Suzuki and NSRCEL, top seven early-stage startups qualified to proceed further for a 6-month incubation program.

During all stages of shortlisting, the startups received training and mentorship under domain experts from Maruti Suzuki India Limited and the industry, along with venture capitalists to strengthen their solutions for actual use. The startups were also guided for investor connect opportunities.

Maruti Suzuki Incubation Program is now open for applications for the 2nd Cohort. Interested early stage startups that are technology led and want to work in the mobility space may click the below link for details:

Link:https://www.nsrcel.org/mobility/

Issued by:

Corporate Communication

Maruti Suzuki India Limited 1, Nelson Mandela Road

Vasant Kunj, New Delhi Ph: 91-11-4678 1000

Email: [e-mail] |Twitter: @Maruti_Corp

Website:www.marutisuzuki.com