Tata Steel Signs MoU With IIT Bhubaneswar To Foster Innovation
Bhubaneswar: Leading steel manufacturer Tata Steel on Monday signed a Memorandum of Understanding (MOU) with IIT Bhubaneswar Research and Entrepreneurship Park (IIT Bhubaneswar REP) to foster innovation, research, and entrepreneurship in projects of mutual interest.
Under the MoU, Tata Steel and IIT Bhubaneswar REP, a company promoted by IIT Bhubaneswar, have joined hands to explore collaboration in different areas including materials processing and modelling, energy and environment, and low carbon steel production and circular economy.
The MoU was exchanged between T. V. Narendran, CEO & MD, Tata Steel, and Prof. Shreepad Karmalkar, Director, IIT Bhubaneswar & Chairman REP during the 100-Cube Start-up Conclave at IIT Bhubaneswar on 11th February, 2024 in the presence of Union education, skill development and entrepreneurship minister Dharmendra Pradhan.
Speaking on the occasion, Tata Steel CEO and MD T. V. Narendran said: “The MoU strengthens our partnership with IIT Bhubaneswar, as we work together to co-create solutions for sustainable steelmaking and advanced materials. Tata Steel recognises the huge potential of Indian startups led by the youth. Backed by the government, our academic and research institutes are the cradle of innovative ideas. Collaboration with industry catalyses the process of transforming those ideas into scalable applications. The 100-Cube initiative of IIT Bhubaneswar is a commendable step by the government to promote Odisha's entrepreneurial spirit and build a stronger India through technology and innovation.”