The MoU will help establish a Centre of Excellence for innovation and entrepreneurship to promote competitiveness in the country's micro, small and medium enterprises (MSMEs).
It also aims at facilitating collaboration towards advancement of knowledge on the basis of reciprocity, best effort, mutual benefit and frequent interactions.
The MoU also provides for organising joint training workshops, programmes, seminars of the two institutions to cater to technological advancement or MSMEs and conduct their certified courses and corporate trainings, besides different activities aimed at capacity building of entrepreneurs.