To boost the startup ecosystem in Punjab, the State Government, through its Startup Punjab Cell, signed a Memorandum of Understanding with the Atal Incubation Centre (AIC) at the Indian School of Business, Mohali, to setup ‘The Enable Start-up Track Acceleration Program’ (ESTAC) — which specifically focuses on areas of scalability for government enabled and private sector driven businesses.
“The collaboration will support technology-led, scalable and investible start-ups to tap into the new opportunities resulting in economic growth in Punjab,” said the state Additional Chief Secretary (Industries and Commerce) Vini Mahajan.
Both Startup Punjab and AIC-ISB will jointly enable pilot projects, in relevant departments of Punjab Government, for startups selected in the 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. 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 will offer acceleration support to the selected cohort of start-ups which includes master classes, workshops, mentoring sessions, advisor and investor connect.
MoU SIGNED WITH DBT-BIRAC TO GIVE IMPETUS TO BIOTECHNOLOGY SECTOR
Identifying biotechnology as the key driver for the state’s economic development, Punjab Government on Friday inked an MoU with Department of Biotechnology (DBT)-Biotechnology Industry Assistance Council (BIRAC) to jointly promote biotechnology innovation ecosystem in the State to meet space, service and knowledge requirement of the sector.
The state Principal Secretary (Science, Technology and Environment) and Punjab State Biotech Corporation chairman RK Verma signed the MoU with BIRAC managing director Dr Mohd Aslam in the presence of Secretary to Government of India, DBT and BIRAC chairperson Dr Renu Swarup during the mega event ‘Global Bio-India 2019’ held at New Delhi.
Sharing the State Government’s vision and strategic roadmap for holistic development of Biotech sector during the event, Verma said that handholding of BIRAC would help Punjab in emerging as Global Biotech destination. Dr Swarup lauded Punjab’s initiatives and emphasized the importance of contribution of States in achieving the goal of 100 billion dollar economy by 2025 by India.