The Indian Institute of Technology (IIT), Hyderabad, will partner with New Frontier Capital Management, a Hong Kong-based financial firm with offices in Tokyo and Singapore, to establish a global enterprise network and create an enterprise ecosystem # The core objective of this partnership is to promote innovation, research and incubation.
An MoU has been signed by Prof B.S.Murty, Director, IIT Hyderabad and Shigeki Usuki, Chief Executive Officer, New Frontier Capital Management, to facilitate this collaboration. This MoU also enables New Frontier Capital Management to establish an office on the IIT Hyderabad campus. Speaking of this collaboration and its benefits to the ecosystem of innovation and entrepreneurship at IIT Hyderabad, Prof BS Murty said, “IIT Hyderabad continuously encourages the ecosystem of entrepreneurship with its unique BTech minor in entrepreneurship and its technical incubators such as i-TIC and CfHE. “
“With a wave of global start-up culture, we’ve taken a big step forward and signed an MoU with an established venture capitalist, New Frontier Capital Management (NFCM), which has a global presence, including in Tokyo and Singapore,” he added. # Prof Murty further said that a joint innovation center in Tokyo and the IITH campus together with an office for NFCM on the IITH campus will provide a global platform for IITH incubators. This will indeed strengthen the distinctive link between IITH and Japan and open up new research opportunities and promote the culture of entrepreneurship.
The Memorandum of Understanding also provides for the establishment of “Joint Innovation Centers” in Tokyo, Japan and Telangana, and will contribute to the creation of an ecosystem linked to global research institutions. Usuki, CEO of New Frontier Capital Management, emphasized the expected results of this collaboration: “Japanese companies have a very strong interest in innovation that comes from India. By partnering with IIT Hyderabad, we expect to promote the inter-relationship between India and Japan in particular in the field of daring and innovation. “
“The MoU allows us to locate our office on the IIT Hyderabad campus to promote more information sharing in both ways, in which case we expect wider development of cooperation between India and Japan,” he added. (ANI)
