Maruti Suzuki to collaborate with IIM Bangalore to promote startups

India’s largest carmaker, Maruti Suzuki India Limited, announced on Thursday that it has entered into a partnership with Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup hub and incubation centre at Indian Institute of Management, Bangalore (IIMB).

This partnership aims to help startups working in technology-based innovations that can be applied in the mobility sector.

The collaboration marks the first-of-its-kind initiative by an automobile manufacturing company to help early-stage startups become large-scale businesses. There will be a three-month (pre-incubation) and six-month (incubation) engagement.

Speaking on the partnership, Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India, stated that the mobility startup incubation program addresses the needs of early-stage startups, which have the potential of becoming large-scale businesses, hence the partnership with IIM-B would widely spearhead innovation in the mobility space.

On Tuesday, the stock of Maruti Suzuki closed at Rs 6,980.90 per share, down by 0.18 per cent or Rs 12.55 per share on BSE, against a 1.02 per cent decline in the benchmark index. The 52-week high is recorded at Rs 7,755  and the 52-week low is Rs 4,002 on BSE.