Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is an Indian automobile manufacturer, based in New Delhi. Founded in 1981, it has led the Indian Automotive sector from the front and has always been at the forefront of bringing the Joy of Mobility to its customers.
Maruti Suzuki India Limited has recently launched their pre incubation program Nurture 2.0 in association with IIM Calcutta Innovation Park to promote and scoute early stage startups in East and North East region of India.
The program aims to provide cohesive mentorship to early-stage tech startups to create innovative business solutions and enable an opportunity for them to launch their business in Maruti Suzuki Ecosystem or participate in Maruti Suzuki Innovation Programs.
IIM Calcutta Innovation Park, with the support of multiple partner organizations will conduct 3 Idea Hunts in West Bengal, Assam and Raipur to validate innovative ideas and solutions.
The selected candidates will be provided with multiple valuable benefits.
Any Prototype Stage to Pre-Series A, tech enabled startups having special focus on Eastern and North Eastern parts of India with an aim to launch their startup in Maruti Suzuki Ecosystem
Maruti Suzuki Innovation has been created with the vision of innovating new-age technology backed solutions. We provide a platform for startups whose ideas are not only in sync with the automotive needs of the modern world but also contribute towards the betterment of society. By joining forces with these bright minds, we aim at co-creating a newer and better tomorrow.
IIM Calcutta innovation Park (IIMCIP) is a non-profit company set up under the aegis of IIM Calcutta to promote entrepreneurship and innovation and established itself as a premier hub of entrepreneurship development in East and Northeast India.
A business idea is a concept for commercial purposes and typically centers on a product or service that can be sold for money by adopting an operational and practical model. A unique business idea:
I. Fulfils and solves customer and market need
II. Has a Unique Value proposition, and
III. Is Scalable and Profitable in the long run
The process of improvement in the existing product/services in its manufacturing/delivery/use and applicability by way of technology and enhances efficiency adding to its value proposition/benefits is termed as innovation. For example, the mobile app services are innovation for delivering product and services which were earlier possible to be delivered only through a computer.
The product/services which are traditionally in the market may be improved upon in a multiple manner so as to differentiate them. The product/service differentiator usually comes with improvement of quality, service and overall standardization. For example, the intervention of technology helped in railway ticket/bus ticket and hotel booking. Similarly, packaging of milk helped it improve ease of handling and sale anytime during the day.
Any new idea or concept when translates into a product/services is first tested within closed group of experts is a testimony of the proof of concept. The incubation centers are usually the places that provide the support and services for proof of concept of new idea/concept. The PoC is a stage before the test marketing (or beta stage) of any product/services.
Defining the challenges in a business and in production of products or delivery of services in clear terms is a problem statement. Writing a problem statement helps in analysis and arriving at solutions to the challenges.
An entity shall be considered as a Startup:
a. Upto a period of ten years from the date of incorporation/registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.
b. Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded INR Rs. 100 crores.
c. Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
The business that focuses and registers enough profits so as to serve its own cost of existence and grow on a year-on-year basis is a sustainable business. The products and services of the business remains relevant in its value proposition and benefits to its customers to be in demand sustains itself.
Incubation is a process whereby an entrepreneur/organization get help for their new and startup business to develop by providing services such as management training, capital or office space. The incubation provides the eco-system for harnessing new business idea/concept and develop it into a commercial venture.
Mentoring involves advising or training an individual or a group of individuals and guiding them pertaining to their respective activity or domain. This involves counseling, training, and guidance by experts. A mentor can be anyone who helps a new individual learn and understand the nuances of a particular activity/work/business/art/trade. Mentors usually have long years of hands on expertise in their area of work and have demonstrated success in their field.