Maharashtra sets up world-class innovation ecosystem with FICCI and IC2 Institute

Maharashtra State Skill Development Society, Government of Maharashtra, Federation of Indian Chambers of Commerce and Industry (FICCI) and IC2 Institute at University of Texas Austin, USA, today announced setting up a World-Class Innovation Ecosystem in the State of Maharashtra to boost grass root innovations to benefit the population at large in the state.

This ecosystem will drive the creation of at least 1,000 enterprises as technology start ups, create thousands of jobs and cause Rs. 6,000 (USD one billion) impact in the state. The focus of the program is both high tech and grass roots innovations with critical societal impact.

It is envisioned to develop Maharashtra as an Innovation hub of global repute, with a focus on enhancing the quality of life of its rural livelihood by increasing productivity in agriculture and allied activities and through accelerating innovations and start-ups.

Maharashtra state skill development society, government of Maharashtra, FICCI and IC2 Institute jointly intend to create a model for commercialization and industry outreach to foster entrepreneurship and a culture of innovation, stimulating the formation of tech start-ups in our country. This initiative will ensure employing best practices and experience in developing new ventures, identifying sources of investment, and preparing new enterprises for Indian, regional and global market entry.

The program will bring significant social and economic impact in the State. The program intends to develop over 1,000 hi tech and rural enterprises and train over 20,000 rural entrepreneurs/scientists/innovators in state of Maharashtra. The incubated companies are projected to create a economic impact of over INR.

6,000 crores within decade. The program will benefit over 100 villages and farmers over the next 10 years.

Federation of Indian Chambers of Commerce and Industry's unique Centre for Innovation, Science and Technology Commercialization (FICCI C-Tech), the IC2 Institute of The University of Texas, Austin, USA propose to work jointly with Maharashtra State Skill Development Society, Government of Maharashtra to establish the talent and support infrastructure needed for a world-class technology start-up ecosystem, through Global Accelerator and Research and Development Program by setting up Technology Business Accelerator in the state of Maharashtra which will be a unique model of social and economic development.