NLC India Ltd (NLCIL) has inked a memorandum of understanding (MoU) with Indian Institute of Science (IISc), Bengaluru, to set up an innovation and incubation centre for assisting young innovators in specific focus areas to develop core business activities of NLCIL.
The MoU was signed by V. Manoharan, Chief General Manager, Centre for Applied Research and Development and Corporate Environment Cell, Head of Research and Development, NLCIL, and Prof. V. Rajarajan, Registrar, and Prof. B. Gurumurthy, Chief Executive, SIC, IISc.
The MoU was exchanged in the presence of Rakesh Kumar, chairman-cum-managing director of NLCIL and directors R. Vikraman, N.N.M. Rao, Shaji John and senior officials of NLCIL at Neyveli on Wednesday.
According to an NLCIL official, the Centre for Applied Research and Development (CARD), NLCIL, in collaboration with the SIC, IISc, will set up the innovation and incubation centre, which will focus on innovation work on identified areas such as lignite conversion to clean fuel, emission reduction and carbon capture, value added product development, storage batteries, Internet of Things solutions, water purification and modern greenhouse techniques etc.
IISc, Bengaluru has already been recognised by Atal Incubation Mission as one of the institutions for innovation and incubation and a world class centre of excellence, he said. As part of the MoU, IISc will provide 2,000 sq.ft. to lead start-ups with support of seed fund from NLCIL on an outlay of ₹397.96 lakh for a period of three years. Young innovators will be invited with proposals to develop proof of concept and prototypes.
The innovation and incubation centre will create business opportunities for young innovators and also develop new technologies to accelerate the growth of industry and support the society in nation building.
Mr. Kumar appreciated the initiative and suggested focusing on clean coal technologies and to develop alternative technologies for emission reduction in Thermal power stations for maintaining a clean environment.
