New Delhi, Nov 25 (KNN) With the aim to promote Korean and Indian startups and collaborate for technology development for Asian markets, IIT Kanpur has signed an agreement with the Korea Startup Forum during the  COME UP Startup Festival.

The agreement was signed between Nikhil Agarwal, CEO, Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, and Sungjin Choi, CEO, Korea Startup Forum.

As part of this agreement, 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. The Indian Startups will also benefit from innovative Korean technology solutions and develop world-class products for global customers. 

Speaking at the COME UP Startup Festival, 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.

“Large Korean firms such as Hyundai, LG, and Samsung have a significant presence in India. Our long association can potentially benefit Korean and Indian startups in form of tech exchange, investments, and collaboration. Such collaborations will only strengthen our ties,” he said.

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.” 

Josh Choi, COO, Korea Startup Forum, added, “India is a diverse market that Korean startups should pay attention to. Therefore, the partnership between KSF and SIIC, IIT Kanpur will accelerate immense opportunities between both economies.”

Agarwal also extended an invitation to the startups based in Korea to avail the incubation services at IIT Kanpur’s Artificial Intelligence - Centre of Excellence in Noida.

The centre has been established in Uttar Pradesh and is supported by the government of Uttar Pradesh’s startup policy initiative and the Federation of Indian Chambers of Commerce and Industry. (KNN Bureau)