IIML signs pact with TERI to nurture startups in energy sector

LUCKNOW: The Indian Institute of Management-Lucknow’s (IIM-L) Enterprise Incubation Centre or L-Incubator has signed a memorandum of understanding with The Energy Resource Institute (TERI) to work towards nurturing startups with a focus on the energy sector.

The managing director of L-Incubator, Prof M Akbar, TERI’s director Puneet Chandra signed the partnership on Wednesday in New Delhi office of the think tank.

“TERI would be happy to join hands with an institutional body like L-Incubator IIM Lucknow and be a partner in creating and nurturing startups in the area of sustenance,” Chandra said.

“This is the beginning of a transforming startup ecosystem, where various institutes would take a joint path to culminate ventures to sustainable businesses,” Akbar added.

SM Rounaque Mustafa, vicepresident of L-Incubator, proposed TERI to conduct a joint accelerator programme to boost the sustainability based startups and foster sustainable industrial and environmental development.

He said TERI, as a partner, was glad to be a part of these efforts.

L-Incubator, was set up in 2013 in Lucknow and transferred to Noida in 2016, was founded with the aim to seek and assist entrepreneurial talent in Delhi and the National Capital Region.