Sona Comstar ties up with IIT Delhi to fund start-ups

Sona Comstar, a leading automobile component manufacturer Wednesday tied up with Indian Institute of Technology Delhi (IIT-Delhi) to support, fund and mentor innovative startups.

"IIT Delhi wants to engage with the industry to strengthen startup programs in academia as this is a good way to quickly bring new technologies to market,” said IIT delhi director V Ramgopal Rao.

Kiran Deshmukh, Chief Technology Officer of Sona Comstar said he is hopeful that this partnership will enable creation of new IP and innovative "Make-in-India products".

The Sona Comstar, with revenue of Rs. 1,500 crore is an Indian origin, global automotive systems and components manufacturer with 10 plants spread across India, China, Mexico, and the US, according to the official website of the company. Sunjay Kapur is the chairman of Sona Comstar.

Startups working in the area of e-mobility can apply under this program and each of the selected startup can get up to Rs.80 lakh grant with the option to retain its IP.

IIT Delhi that has a robust start up culture in the campus, and is planning to expand its start-up ecosystem in a satellite campus in Haryana said “this is first of its kind industry support programme in the area of mobility”.

Anil Wali managing director of the foundation for innovation and technology transfer, a department t that nurtures startups and industrial relation said the collaboration will help in the design and development of indigenous technologies.