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India unit of German semiconductor manufacturer Infineon and NSRCEL, the startup incubator and entrepreneurship centre at Indian Institute of Management Bangalore (IIM-Bangalore), have signed a memorandum of understanding (MoU) to strengthen Artificial Intelligence and Software Development ecosystem in India by mentoring and nurturing the early and growth stage startups.

Under the collaboration, Infineon will share problem statements and NSRCEL at IIMB will introduce Infineon to the developer community of NSRCEL to foster joint innovation projects in Artificial Intelligence and Software Development. The partnership enables Infineon to offer dedicated training, lab facilities and support strategically relevant startups from NSRCEL with product samples and development kits. Furthermore, Infineon has agreed to provide its technical subject matter experts, as mentors. The partnership also includes introduction of the startups to Infineon’s customers to explore collaboration or business potential and Infineon’s participation in NSRCEL events as a speaker or panelist.

NSRCCEL IIM Bangalore and Infineon

Mr. Rajiv Sawhney, COO – NSRCEL, IIM Bengaluru, Mr. Vinay Shenoy, Managing Director, Infineon Technologies (India)

Professor G Raghuram, Director, IIM Bangalore, said: “IIMB is very happy to partner with Infineon, a leading technology company from Germany, in supporting startups. This partnership will be operationalized through NSRCEL, the innovation and entrepreneurial hub of IIMB, and with support from NITI Aayog’s Atal Innovation Mission. NSRCEL will now be able to offer incubation to startups in deep dive technology in a meaningful way.”

“Artificial Intelligence unleashes enormous innovation potential in our industry and offers great business opportunities,” said Dr. Reinhard Ploss, CEO of Infineon Technologies AG. “We see increasing demand for our energy-efficient power and IT-security solutions, which are a prerequisite for developing A.I. In addition, A.I. opens up a vast array of possible applications for the Internet of Things and Smart Mobility.” Reinhard Ploss added: “We want to accelerate the way we learn about A.I. and identify use cases early on. By working together with NSRCEL and IIM Bangalore, we aim to join forces with India’s innovative entrepreneurs and startups in this field.”

NSRCEL, the center for innovation and entrepreneurship at IIMB, is supported, among others, by the Atal Innovation Mission (AIM) of NITI Aayog. Infineon had signed a Statement of Intent with NITI Aayog earlier this year to support the Atal Innovation Mission. NSRCEL also supports academic research to promote a better understanding of the entrepreneurial context and entrepreneurial strategies in the Indian context.

It may also be recalled that earlier this month, and another private firm, Mphasis, has too partnered with NSRCEL at IIM-Bangalore, as part of its Social Venture Incubation Program, to support ‘early-stage social ventures by incubating and supporting ‘for profit’ social ventures and comprises start-ups that have been in operation for one to three years

Headquartered in Neubiberg, Germany, Infineon Technologies AG is a leading semiconductor solutions firm that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2018 fiscal year (ending 30 September), the Company reported sales of €7.6 billion with about 40.100 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).

~ Business Wire India

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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