M.A.M. College of Engineering and Technology (MAMCET) has signed a memorandum of understanding with IIT-Madras Incubation Cell (IITMIC) for strengthening entrepreneurship ecosystem in Tiruchi region.
The MoU mandates the two entities to work together to provide incubation support/facilities to entrepreneurial ventures. IITMIC will support MAMCET in conducting training, and organising motivational/experiential talks to strengthen the entrepreneurial ecosystem, besides facilitating incubation, startup selection, support, mentoring and monitoring, and strategic and operational guidance.
IITMIC will provide co-incubatees access to incubation space/infrastructure, business support services (accounting, tax, CS, legal, HR), networking and training support, mentoring (technical and business), seed funding and link-up with angels/VCs and ‘Startup Engine’, a press release issued by S. Susan Christina, Principal, MAMCET, said.
The MoU documents were exchanged earlier this month between Tamaswati Ghosh, CEO, IITMIC, and Fathima Bathool Maluk, Secretary and Correspondent, MASTeR Group of Institutions, which also comprises M.A.M. School of Architecture and M.A.M. B. School.
The Entrepreneurship Development Cell in the campus will promotes innovation and entrepreneurship by providing an eco-system with the right mix of infrastructure and technical knowledge to the pool of students who can bring fresh ideas. The Cell will conduct awareness programmes, training, and mentoring.
IITMIC had already made a mark incubating 220 companies valued at ₹11,000 crore, and was partnering with institutions such as MAMCET for promoting entrepreneurship, recognising the potential for Tamil Nadu to be the leader in incubation of technology companies, the release said.
