CII and Vedanta sign MoU to foster corporate start-up connect

The Confederation of Indian Industry’s Centre of Excellence for Innovation, Entrepreneurship, and Start-ups (CII CIES) on Tuesday announced its strategic partnership with Vedanta Ltd. to promote corporate-start-up connect and also provide support to technology-based start-ups through its corporate accelerator program.

Vedanta Ltd. is the subsidiary of Vedanta Resources.

The CII CIES, known for its expertise in fostering innovation, entrepreneurship, and start-up growth, has been running corporate open innovation programmes.

The corporate accelerator programme is designed to facilitate collaboration between corporations and start-ups, with both of them leveraging each other’s strengths and drive innovation.

As a part of this programme, start-ups present their minimal viable products on demo day, with the goal of securing contracts with participating corporates.

CII CIES and Vedanta exchanged a memorandum of understanding to collaborate on a joint initiative, it said in a statement, adding that the partnership aims to impact a substantial number of start-ups in the technology space. Vedanta will leverage the CII CIES’s expertise and identify and nurture start-ups.

Priya Agarwal Hebbar, Chairperson of Hindustan Zinc Ltd. & Non-Executive Director of Vedanta Ltd, said: “Partnership with CII CIES will provide a unique opportunity for innovative start-ups to showcase their potential within our ecosystem. This collaboration will help us identify and evaluate start-ups that align with our vision of transformative and sustainable technologies.”

HBL