Cochin Shipyard Limited and IIM-Kozhikode has sign agreement to encourage start-ups in Maritime Sector

• By Edited by TME Team
• Jul 25, 2022

Cochin Shipyard Limited (CSL) and IIM-Kozhikode have signed an agreement to launch a start-up framework for supporting start-ups in Marine Sector.  Startups can get up to INR 50 lakhs as seed grants, INR 1 Crore as prototyping grants and equity funding for start-ups at the scale up stage.

The agreement was signed on Friday, July 222, 2022, between Executive Director of IIMK LIVE, Prof. Rajesh Upadhyayula, and General Manager (C-SAS) of CSL, Deepu Surendran, in presence of IIMK Director, Prof. Debashis Chatterjee and Chairman and Managing Director of CSL, Madhu S Nair.

"As an initial step for the program, Cochin Shipyard Limited has already declared a corpus of INR 50 crore. We are also happy to have IIMK as our partner in this endeavor," Mr. Madhu Nair said.

Start-ups chosen under this program would have to be entrusted to working for the innovation, development of products, processes or services, and present a scalable business model with a high potential of employment generation and wealth creation for the country.

• Tags
• # start-up
• # maritime
• # India