NALCO has signed a Memorandum of Understanding (MoU) with NIT, Rourkela & NIT Rourkela Alumni Association (NITRAA) for the creation of a Centre of Excellence. The objective of collaboration is to develop entrepreneurs by supporting technology-driven start-up companies to improve manufacturing & service delivery competitiveness, NALCO said on Friday, July 19.
The incubation centre will be located at the company’s Research and Training Centre at Gothapatna, Bhubaneswar, where NALCO is developing a world-class research facility to benefit the aluminium sector.
The partnership, supported by IIT, ICT & DST, is aimed at developing an ecosystem for promoting entrepreneurship, to promote a knowledge environment by collaborating with research institutes and universities in both, core and enabling technology areas.
NALCO said the collaboration will foster creativity, innovation and improve competitiveness in specific technological needs of the host institute and other industries.
Dr. K. Rajeswara Rao, IAS, Additional Secretary, Ministry of Mines urged the partners to develop an ecosystem that will encourage fresh ideas and innovative practices.