To incubate startups, automobile major Maruti Suzuki India has tied up with the Indian Institute of Management, Bangalore (IIMB).
Accordingly, this partnership will help startups working in technology-based innovations that can be applied in the mobility sector.
"The collaboration marks the first-of-its-kind initiative by an automobile manufacturing company to help early-stage startups become large scale businesses," the company said in a statement on Thursday.
"This will be a 3-month (pre-incubation) and 6-month (incubation) engagement. Maruti Suzuki has launched MAIL (Mobility and Automobile Innovation Lab) in January 2019, which supports startups by co-creating innovative business solutions in the mobility space."
According to the company, the futuristic solutions being developed under the MAIL initiative have a positive impact on Maruti Suzuki's business.
"These solutions help to efficiently bring in technological advancements relevant to automobile business," the statement said. "To expand the collaboration with startups, Maruti Suzuki now plans to engage with IIMB to incubate startups in the area of mobility."