Cochin Shipyard, IIM-Kozhikode Sign Agreement To Boost Start-Ups In Maritime Sector

Tags: Economy/Finance National News

Cochin Shipyard Limited (CSL) has signed an agreement with IIM, Kozhikode (IIM-K), business incubator of the Laboratory for Innovation Ventures and Entrepreneurship (LIVE) to support start-ups in the maritime sector.

Important facts

• The idea of such a framework is to develop an ecosystem in India for start-ups in the maritime sector from a technical, regulatory, financial and marketing perspective.

• IIM-K Executive Director Rajesh Upadhyay and CSL General Manager Dipu Surendran signed the agreement in the presence of IIM-K Director Debashish Chatterjee and CSL Chairman and Managing Director Madhu S Nair.

• Under this initiative, start-ups can get Rs 50 lakh as initial grant, Rs 1 crore as prototype grant and equity funding for start-ups at scale up stage.

• IIM-K will act as the implementation partner of the initiative and provide incubation, mentorship and training to the start-ups selected under the programme. 

Indian Institute of Management Kozhikode 

• Indian Institute of Management Kozhikode (IIM Kozhikode or IIMK) is an autonomous public business school located in Calicut (Kozhikode), Kerala.

• It was established in 1996 by the Government of India in collaboration with the Government of Kerala State.

• It was the fifth IIM to be established in India.

• Director - Debashish Chatterjee