GUWAHATI: Numaligarh Refinery Limited (NRL) has signed a memorandum with IIT Guwahati (IIT-G) for incubation of startups of Northeast under its startup funding initiative ‘iDEATION’.
The MoU was signed at the institute between director (technical) NRL, Bhaskar Phukan and IIT-G director, Gautam Biswas in the presence of officials of both NRL and IIT-G.
The MoU will facilitate providing incubation facility and mentoring of startups selected through the initiative by the Technology Incubation Centre of IITG.
“This win-win collaboration will provide impetus, necessary infrastructure and guidance for taking forward NRL-sponsored startup projects in the region,” a statement issued by NRL here on Saturday said.
Launched in the year 2017 for nurturing and boosting a startup ecosystem in Northeast, iDEATION is NRL’s contribution towards the ambitious ‘Startup India’ Mission of the government of India.
A successful first edition of this initiative saw a funding to the tune of Rs. 1.29 crore being allotted to four selected startup projects as seed funding and scale up funding.
The 2nd edition launched in February 2018, also garnered huge responses from entrepreneurs of the region. IANS