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Cyient, AICTE sign MoU to build innovation cluster in Visakhapatnam

Cyient Foundation, the corporate social responsibility (CSR) arm of Cyient Ltd., has signed a Memorandum of Understanding (MoU) with the All India Council for Technical Education (AICTE) to establish an innovation cluster in Visakhapatnam, Andhra Pradesh. The MoU was signed in the presence of Nara Lokesh, Minister for Human Resources Development, IT, Electronics, and Communication. This collaboration aims to strengthen the local innovation ecosystem by transforming higher education institutions into key hubs of entrepreneurship, research, and intellectual property (IP) creation, the company said in a stock exchange filing. Focus on educational institutions and startups The pilot project will target colleges and universities in and around Visakhapatnam, positioning them as active innovation centres. It will encourage collaboration among educational institutions, industry partners, startups, and investors. As part of the initiative, a structured support system will be developed, including: * iCARE (Innovation Creation and Research for Entrepreneurship) centres * iCAFE (Idea Creation and Auxiliary Facilities for Entrepreneurship) centres * IPR-TT (Intellectual Property Rights and Technology Transfer) cells These resources will be implemented across both mentor and mentee institutions. Speaking at the event, Dr BVR Mohan Reddy, Founder Chairman of Cyient and Chief Patron of Cyient Foundation, said: 'The partnership with AICTE is a significant step towards realising India's potential as a global innovation powerhouse. By nurturing entrepreneurial mindsets and building institutional capacities, we are creating a self-sustaining model that empowers youth, encourages IP creation, and promotes meaningful collaboration between academia and industry.' The project will also include boot camps, hackathons, innovation fairs, and mentorship sessions to provide students and faculty with the skills and tools needed to build and scale innovative ideas and startups. Transformative industry-academia collaboration Dr Abhay Jere, Vice Chairman of AICTE, added: 'This partnership with Cyient Foundation exemplifies the kind of industry-academia collaboration that can transform the way educational institutions contribute to India's innovation economy. By strategically leveraging the strengths of institutions, industry, and creative youth, these clusters aim to generate a broad and lasting impact on innovation, entrepreneurship, and growth.' The Visakhapatnam city innovation cluster is expected to serve as a template for similar clusters across India. National innovation drive AICTE and the Ministry of Education's Innovation Cell are already running several national programmes, including: - The Smart India Hackathon, the world's largest open innovation challenge - Establishment of over 15,700 Institution Innovation Councils (IICs) In Andhra Pradesh alone, there are more than 1,137 IICs across both technical and non-technical institutions. Cities such as Visakhapatnam, Vijayawada, Guntur, Tirupati, Kakinada, Nellore, and Anantapur are home to dense clusters of such institutions, making them ideal candidates for city-level innovation hubs. Aligned with Atma Nirbhar Bharat The MoU outlines a three-year plan, during which Cyient Foundation will offer funding and infrastructure support via its CSR programme. The initiative aligns closely with the Indian government's Atma Nirbhar Bharat vision of driving self-reliance through innovation, regional development, and capacity building.