Kanpur (Uttar Pradesh), Jan 31 (IANS): The IIT Kanpur Research and Technology Park and IIM Lucknow-Enterprise Incubation Centre (IIML-EIC) have signed a memorandum of understanding (MoU) to give an impetus to innovation in the startup ecosystem in the country.

Abhay Karandikar, Director, IIT Kanpur and Chairman Board of Technopark, said,"This association between the two world-class premier institutes will not only foster close linkages between academia and industry but will also open new avenues for resource sharing."

It would boost the entrepreneurial ecosystem and empower future innovators of the country, he added.

The two teams met over a zoom call for signing the MoU.

Speaking about the MoU, Karandikar said, "IIM Lucknow Incubator and Technopark are a part of academic powerhouses and bring unique values to the innovation ecosystem. We are delighted to partner with the IIM Lucknow Incubator to blend these strengths and leverage synergies."

"We believe that this partnership has the real potential to make a deep and tangible impact on not only Uttar Pradesh but also the country at large," he added.

Anadi Pande of IIM-Lucknow said, "As an emerging economy, we need to fill in the institutional voids that have long existed to create something on the lines of the Silicon Valley and incubation and innovation is the only way out."

"At IIM-Lucknow, we are deep into artificial intelligence and have many technology start-ups incubated with us. This MoU will facilitate a collaborative exchange of ideas and knowledge between our start-ups and IIT-Kanpur and Technopark companies and our faculty," he added.

"The association between IIT-Kanpur and IIM-Lucknow may serve as a benchmark for other IITs and IIMs to follow. India is witnessing an unprecedented boom in the innovation start-up ecosystem of the country and in the current scenario the motto of "self-reliance" and 'Make in India' and start-up holds more prominence than ever before," an IIT official said.