The Indian Institute of Technology (IIT) Hyderabad has planned to collaborate with a Hong Kong-based financial firm New Frontier Capital Management, to establish a global network for ventures as well as to create a venture ecosystem. The objective of the collaboration is to promote innovation, research and incubation. The firm has offices in Tokyo and Singapore as well.
While giving details about the collaboration, Director of IIT Hyderabad, Prof BS Murty said, "IIT Hyderabad incessantly encourages the entrepreneurship ecosystem with its unique BTech minor in entrepreneurship and it's tech incubators like i-TIC and CfHE."
An MoU was signed by Prof B.S. Murty, Director, IIT Hyderabad and Shigeki Usuki, Chief Executive Officer, New Frontier Capital Management, which will also enable New Frontier Capital Management to establish an office at the IIT Hyderabad campus.
"With a surge in start-up culture globally, we have taken a major step forward and have signed an MoU with an established venture capitalist, New Frontier Capital Management (NFCM), which has a worldwide presence including in Tokyo and Singapore," Murty added.
The MoU also mentions the establishment of "Joint Innovation Centres" in Tokyo, Japan, as well as in Telangana and will help create an ecosystem that is connected to global research institutions.
Highlighting the expected outcomes from this collaboration, Usuki, CEO of New Frontier Capital Management, said, "Japanese corporations have a very strong interest in innovation coming out of India. Through the collaboration with IIT Hyderabad, we expect to further the mutual relationship between India and Japan especially in the fields of venture and innovation."
"The MoU will enable us to establish our office in the IIT Hyderabad campus to promote more information sharing both ways and, in such case, we expect broader development of the India-Japan collaboration," he added.
(With ANI inputs)