Maharashtra: Govt signs MoU with Cornell University to train entrepreneurs

Officials said that 60 entrepreneurs will receive training, guidance and financial and administrative support every year at the incubation centre from the university.

Cornell University, New York. Image source: cornell.edu

The state government on Thursday signed a memorandum of understanding (MoU) with the Cornell University in New York to set up a world-class incubation centre in Maharashtra to provide the necessary infrastructure and conducive environment for new entrepreneurs and innovative start-ups.

The MoU was signed in an online event held in the presence of Industries Minister Subhash Desai and senior officials. “This is the first time that a state in India is setting up an incubation centre through an MoU with an international university,” said Desai.

Officials said that 60 entrepreneurs will receive training, guidance and financial and administrative support every year at the incubation centre from the university. Entrepreneurs holding a domicile certificate in Maharashtra will be able to take part in the programme. Those participating will get a certificate from Cornell University.

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The officials added that the scheme will be implemented on a pilot basis for the first three academic years and is estimated to cost around Rs 7 crore per year.

“The incubation centre will provide training to the entrepreneurs from the open category, SC/ST category and women entrepreneurs. For the centre, a 13,000 sq ft space at the Reliance Corporate Park in Ghansoli MIDC in Navi Mumbai has been finalised,” said an official.