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New Indian Express
2 days ago
- Business
- New Indian Express
Andhra government signs MoU with Cyient, AICTE to strengthen innovation
VIJAYAWADA: The State government has signed a Memorandum of Understanding (MoU) with Cyient Foundation and the All India Council for Technical Education (AICTE) to strengthen Andhra Pradesh's innovation and startup ecosystem. The agreement was formalised in the presence of HRD and IT Minister Nara Lokesh at his residence in Undavalli, marking a crucial move to empower youth with entrepreneurial skills, and drive institutional innovation across the State. The MoU outlines the establishment of urban innovation clusters, with the first cluster being launched in Visakhapatnam. These clusters will help educational institutions evolve into hubs of entrepreneurship, innovation and intellectual property creation. Under this initiative, specialised centres such as i-CARE (Innovation Creation and Research for Entrepreneurship), i-CAFE (Idea Creation and Auxiliary Facilities for Entrepreneurship), and IPR-TT (Intellectual Property Rights and Technology Transfer) cells will be set up in colleges and universities. Lokesh asserted the government's commitment to nurturing innovation and job creation through structured partnerships. 'We are building an innovation-first economy to empower our youth,' he said. The initiative will be implemented through boot camps, hackathons, innovation fairs, entrepreneurship competitions, and mentorship programmes with industry experts.
The Hindu
3 days ago
- Business
- The Hindu
Cyient Foundation and AICTE sign MoU to build innovation cluster in Visakhapatnam
Cyient Foundation, the Corporate Social Responsibility (CSR) arm of Cyient Limited, and the All India Council for Technical Education (AICTE) signed a Memorandum of Understanding (MoU) to establish an innovation cluster in Visakhapatnam. The MoU was signed in the presence of Minister for Human Resources Development, IT, Electronics and Communication Nara Lokesh, here on Wednesday. The partnership is aimed at strengthening the regional innovation ecosystem by empowering educational institutions to become epicentres of innovation, entrepreneurship, and intellectual property creation. Under the MoU, the pilot programme will focus on transforming higher education institutions in and around Visakhapatnam into vibrant hubs of innovation by fostering collaboration between academia, industry, startups, and investors. The initiative will deploy a structured ecosystem comprising iCARE (Innovation Creation and Research for Entrepreneurship) centres, iCAFE (Idea Creation and Auxiliary Facilities for Entrepreneurship) centres, and IPR-TT (Intellectual Property Rights and Technology Transfer) cells across mentor and mentee institutions. The MoU envisions a three-year roadmap, with Cyient Foundation providing CSR grant support and infrastructure for the initiative. Speaking on the occasion, founder-chairman of Cyient and chief patron of Cyient Foundation, B.V.R. Mohan Reddy 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 collaboration will also include boot camps, innovation fairs, hackathons, and mentoring programmes — all designed to equip students and faculty with the skills and resources necessary for real-world innovation and start-up development. AICTE Vice-Chairman Abhay Jere said that the 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 collective strengths of educational institutions, industry, and the creative youth talent, these innovation clusters aim to generate a broad and lasting impact on regional innovation, entrepreneurship, and economic growth,' he said, adding that the innovation cluster in Visakhapatnam will serve as a model for future clusters across the nation. AICTE and the Ministry of Education's Innovation Cell implement a variety of national-level initiatives, such as organising the Smart India Hackathon, the world's largest open innovation model, and establishing Institution's Innovation Councils (IICs) in more than 15,700 higher education institutions (HEIs) across India. In Andhra Pradesh alone, over 1,137 IICs have been established in both technical and non-technical institutions, actively driving campus innovation ecosystems. Cities like Visakhapatnam, Vijayawada, Guntur, Tirupati, Kakinada, Nellore, and Anantapur have a high concentration of these institutions, giving them substantial potential to develop into city-level innovation clusters.
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Business Standard
3 days ago
- Business
- Business Standard
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.
