The Indian Institute of Technology (IIT) Kanpur has signed an agreement with the Korea Startup Forum during the COME UP Startup Festival, with the vision to promote Korean and Indian startups and collaborate for technology development for Asian markets. The agreement was signed between Dr Nikhil Agarwal, CEO, Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, and Sungjin Choi, CEO, Korea Startup Forum during the COME UP event.
As part of this agreement, SIIC IIT Kanpur will provide opportunities for co-incubation and technology exchange to Korean startups. This is in line with the excellent landscape and opportunities the Indian domestic market offers to Korean startups to launch their products. Similarly, Indian startups are also expected to benefit from innovative Korean technology solutions and develop world-class products for global customers. Dr Nikhil Agarwal was also a part of a jury discussion alongside other leading personalities from the global startup ecosystem in the COME UP event that witnessed the footfall of more than 20,000 attendees from across the world. Also Read || IIT Kanpur Hosts BIS-Academia Workshop On Mechanical Testing, Powder Metallurgical Processes, Products
During his session at the Startup Festival, Dr Nikhil Agarwal enlightened the audience about the rapidly evolving incubation ecosystem at IIT Kanpur. He spoke elaborately about India's startup policies and the ‘Make-in-India' initiative. He also added, “Large Korean firms such as Hyundai, LG, and Samsung have a significant presence in India. Our long association can potentially benefit Korean and Indian startups in form of tech exchange, investments, and collaboration. Such collaborations will only strengthen our ties.”
Sungjin Choi, CEO, Korea Startup Forum, also expressed his aspirations for this partnership, he said, “India is a hometown of qualified talents. I believe a lot of Indian talents will get a chance to work with promising startups carrying great growth potential. Also, many Indian startups can penetrate the Korean market to access venture capital as well as build various business collaborations with big corporates.” Also Read || IIT Kanpur, AARDO To Host 'Mitigating Climate Change While Harnessing Renewable Energy' Training Programme
Josh Choi, COO, Korea Startup Forum, added, “India is a diverse market that Korean startups should pay attention to. Therefore, the partnership between KSF and SIIC, IIT Kanpur will accelerate immense opportunities between both economies.”
Professor Ankush Sharma, Professor-in-charge, Innovation and Incubation, IIT Kanpur, also commented on the exchange of this agreement, he said, “I extend a warm welcome to Korean startups to ‘soft-launch' their business in collaboration with SIIC, IIT Kanpur startups and add value to our cross border association. I am hopeful this agreement will not just strengthen our international association but also add positively to the startup ecosystem in both countries.”
Dr Nikhil Agarwal also extended an invitation to the startups based in Korea to avail the incubation services at IIT Kanpur's Artificial Intelligence - Centre of Excellence in Noida, during his session. The centre has been established in Uttar Pradesh and is supported by the government of Uttar Pradesh's startup policy initiative and the Federation of Indian Chambers of Commerce and Industry.
