BANGALORE, November 29, 2018 : Infineon and NSRCEL at Indian Institute of Management (IIM) Bangalore have signed a memorandum of understanding (MoU) to strengthen Artificial Intelligence (A.I.) and software development ecosystem in India by mentoring and nurturing early and growth stage start-ups.
Infineon and NSRCEL agreed to foster joint innovation projects with the developer community of NSRCEL. Infineon intends to offer dedicated training, lab facilities, as well as to support start-ups with product samples and development kits. Strategically relevant start-ups receive mentoring from Infineon’s technical experts and introductions to Infineon’s customers to explore collaboration or business potential.
“Artificial Intelligence unleashes enormous innovation potential in our industry and offers great business opportunities,” said Dr. Reinhard Ploss, CEO of Infineon Technologies AG. “We see increasing demand for our energy-efficient power and IT-security solutions, which are a prerequisite for developing A.I. In addition, A.I. opens up a vast array of possible applications for the Internet of Things and Smart Mobility.” Reinhard Ploss added, “We want to accelerate the way we learn about A.I. and identify use cases early on. By working together with NSRCEL and IIM Bangalore, we aim to join forces with India’s innovative entrepreneurs and start-ups in this field.”
Infineon signed MoU with the German Accelerator Southeast Asia (GASEA) and Arrow Electronics last month to reach out to German and local start-ups. Earlier this year, Infineon signed a Statement of Intent with NITI Aayog to support the Atal Innovation Mission. This came after establishing partnerships with Singapore’s AIRmaker and India’s Electropreneur Park last year. Five start-ups are now working closely with Infineon at the newly opened Co-Innovation Space in Singapore.
About NSRCEL at IIM Bangalore : NSRCEL at IIM Bangalore incubates start-ups and provides a range of educational and capacity building programs and mentorship support, both for start-ups and early-stage ventures. NSRCEL currently incubates 130 start-ups. During 2017-18, NSRCEL conducted over 2300 mentoring sessions and 80 events. Through its rapidly growing open mentoring initiatives, it is conservatively estimated that NSRCEL may have directly impacted in excess of 10000 entrepreneurs, aspiring entrepreneurs or other participants in the ecosystem since it was established in 2000.