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Business EconomyPosted at: Nov 22 2019 8:34PM


Startup Punjab inks MoU with AIC ISB to setup startup acceleration program

Chandigarh, Nov 22 (UNI) In a major push to boost the startup ecosystem in the state, Punjab Government, through its Startup Punjab cell, signed a MoU with the Atal Incubation Centre (AIC) at the Indian School of Business Mohali to setup The Enable Start-up Track Acceleration program (ESTAC).
ESTAC specifically focuses on areas of scalability for government enabled and private sector driven businesses.
Additional Chief Secretary Industries and Commerce Vini Mahajan on Friday said that the collaboration will support technology-led, scalable and investible start-ups to tap into the new opportunities resulting in economic growth in Punjab.
Both Startup Punjab and AIC ISB will jointly enable pilot projects, in relevant departments of the state government, for startups selected in the Enable Startup Track Acceleration (ESTAC) program with an objective to foster innovation and entrepreneurship in the region.
This collaboration will prove to be instrumental in offering incredible opportunities to the startups based in Punjab, by providing them the requisite support and access to an ecosystem which nurtures their growth, she added.
Indian School of Business Dean Rajendra Srivastava said that AIC ISB would work with Startup Punjab and other program partners to identify and refine the theme areas for the ESTAC program that are of key importance for the region and will run acceleration programs around these identified themes with advisory support from Startup Punjab. The broader theme areas have been identified as Internet of Things, Artificial Intelligence, device technologies, Agricultural technologies, Agri-startups and Electric Vehicles.
AIC ISB, along with Startup Punjab and other program partners, will conduct assessments for the selection of final cohort and will also offer acceleration support to the selected cohort of start-ups which includes masterclasses, workshops, mentoring sessions, advisor and investor connect, he added.
The Punjab government through the ‘Startup Punjab’ cell is building an effective startup ecosystem in the state to bolster the entrepreneurial culture in the state. This initiative would also provide a platform to facilitate capability building via mentors to help the budding entrepreneurs to position their products in the market, scale up their business, and connect them to investment agencies.
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