SIIC, IIT Kanpur and Korea Startup Forum sign MoU to promote startups

The MoU would promote opportunities for collaboration among Indian and Korean startups.

Startup Incubation & Innovation Centre (SIIC) – the technology business incubator of IIT Kanpur, has signed an MoU with Korea Startup Forum during the COME UP Startup Festival, with the vision to promote Korean and Indian startups and collaborate for technology development for Asian markets. The COME UP Startup Festival is one of the largest startup events in Asia organized recently in Seoul, South Korea this year.

The MoU was signed between Dr. Nikhil Agarwal, CEO, SIIC, IIT Kanpur, and Sungjin Choi, CEO, Korea Startup Forum during the COME UP event. As part of this MoU, SIIC, IIT Kanpur will provide opportunities for co-incubation and technology exchange to Korean Startups. This is in line with the excellent landscape and opportunities the Indian domestic market offers to Korean startups to launch their products. Similarly, Indian Startups are also expected to benefit from innovative Korean technology solutions and develop world-class products for global customers.

During his session at the Startup Festival, Dr. Nikhil Agarwal enlightened the audience about the rapidly evolving incubation ecosystem at IIT Kanpur. He spoke elaborately about India’s startup policies and the ‘Make-in-India’ initiative. He also added, “Large Korean firms such as Hyundai, LG, and Samsung have a significant presence in India; our long association can potentially benefit the Korean and Indian startups in form of tech exchange, investments, and collaboration. Such collaborations will only strengthen our ties.”

Sungjin Choi, CEO, Korea Startup Forum, also expressed his aspirations for this partnership, he said, “India is a hometown of qualified talents. I believe a lot of Indian talents will get a chance to work with promising startups carrying great growth potential. Also, many Indian startups can penetrate the Korean market to access venture capital as well as build various business collaborations with big corporates.”

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