Tata Steel Inks MoU With IIT Bhubaneswar REP To Foster Innovation

In an attempt to foster innovation, research and entrepreneurship in projects of mutual interest, Tata Steel recently signed an MoU with IIT Bhubaneswar Research and Entrepreneurship Park.

According to the agreement, 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, Tata Steel said in a statement here on Thursday.

The MoU was inked during the 100-Cube Start-up conclave in the presence of the Union Minister for Education and Skill Development and Entrepreneurship, Dharmendra Pradhan on Feb. 11.

"The MoU strengthens our partnership with IIT Bhubaneswar, as we work together to co-create solutions for sustainable steel-making and advanced materials," the CEO & MD of Tata Steel, T V Narendran, said.

"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," he said.

The 100-Cube initiative is a commendable step by the government to promote Odisha's entrepreneurial spirit and build a stronger India through technology and innovation, he added.

Tata Steel's collaboration with IIT Bhubaneswar REP will also include joint research initiatives, technology transfer, and support for the startup ecosystem.

The company has earlier collaborated with the institute on battery research.