On May 3, 2020, The Indian Institute of Technology (IIT), Hyderabad, collaborated with New Frontier Capital Management, a financial firm based in Hong Kong with offices in Tokyo & Singapore, to establish a global network of ventures as well as to create a venture ecosystem.Objective: The core objective of this partnership is to promote innovation, research and incubation.
i.MoU: An MoU was signed by Professor Budaraju Srinivasa Murty, Director, IIT Hyderabad and Shigeki Usuki, Chief Executive Officer (CEO), New Frontier Capital Management, to facilitate this collaboration.
ii.This MoU will also enable New Frontier Capital Management to establish an office at the IIT Hyderabad campus and also promotes India- Japan Collaboration.
iii.Prof B.S. Murty also mentioned that IIT Hyderabad incessantly encourages the entrepreneurship ecosystem with its unique BTech minor in entrepreneurship.
iv.The MoU also envisages establishment of ‘Joint Innovation Centres’ in Tokyo, Japan, as well as in Telangana and will help create an ecosystem that is connected to global research institutions.
v.IIT Hyderabad is a source of early stage ideas, research, incubation and technologies, especially in the fields of 5G (Fifth- Generation wireless), IoT (Internet of things), Fabless Chip Health Care, AI (Artificial Intelligence) & advanced technologies operates three different technology business incubators, namely i-TIC Foundation IIT Hyderabad (iTIC), Centre for Healthcare (CfHE) and Fabless Chip Incubator (FabCI).
Chief Minister (CM)– Kalvakuntla Chandrashekar Rao.
Governor– Tamilisai Soundararajan.