Maruti Suzuki and JETRO’s agreement: a gateway to global opportunities for startups

Maruti Suzuki and JETRO collaboration: New chapter of innovation for India-Japan startups

Maruti Suzuki India Limited has signed a Memorandum of Understanding (MoU) with the Japan External Trade Organization (JETRO) to promote innovation and facilitate business opportunities for startups from India and Japan.

Objective of the Agreement

Under this partnership, startups from both countries will gain access to each other’s innovation ecosystems. Indian startups will have the opportunity to enter Japan’s advanced technological market, while Japanese startups can leverage India’s rapidly growing startup landscape.

Maruti Suzuki and JETRO will collaborate to support startups in participating in relevant programs and activities, connecting them with suitable partners. Startups selected through Maruti Suzuki’s four innovation initiatives—Accelerator, Incubation, Mobility Challenge, and Nurture—will be eligible to join these engagements.

This agreement aligns with the Indian government’s ‘Make in India’ and ‘Startup India’ initiatives, aiming to provide startups with the necessary resources and networks to compete on a global platform.

Maruti Suzuki’s Innovation Initiatives

Maruti Suzuki has engaged with over 5,000 startups through its innovation programs, shortlisting 150 and onboarding 25 as business partners.

• Accelerator Program: Designed for startups aiming to rapidly bring their products or services to market, offering expert guidance, testing facilities, and potential investment opportunities.
• Incubation Program: Targeted at early-stage startups working on high-risk, disruptive technologies, providing domain expertise, mentorship, and opportunities for paid proof-of-concept (PoC) collaborations with Maruti Suzuki.
• Mobility Challenge: Focused on startups developing innovative solutions in the mobility and automotive sectors, offering support through Maruti Suzuki’s network and resources.
• Nurture Program: A pre-incubation initiative assisting early-stage startups in developing their ideas, providing mentorship, strategic guidance, and access to necessary resources.

Through these initiatives, Maruti Suzuki aims to prepare startups for global competition, enabling them to enter new markets and achieve success with their innovations.

Leadership Perspectives

Hisashi Takeuchi, Managing Director and CEO of Maruti Suzuki, stated, “Startups are key drivers of innovation and economic growth. Through our multi-format innovation programs, we have been engaging with startups in India to co-create technology-driven solutions relevant to the automobile manufacturing and mobility space. We see great potential in Indian startups, and with this MoU with JETRO, we will be able to provide a platform for these promising startups to explore the Japanese business landscape.”

Takashi Suzuki, Chief Director General of JETRO India, commented, “Maruti Suzuki stands as one of the finest examples of the successful partnership between India and Japan. With this MoU, we are creating opportunities for even more fruitful business collaborations between our two nations. This MoU aims to foster innovation, drive economic growth, and further strengthen the deep-rooted ties between India and Japan.” MarutiSuzuki

Future Outlook

This agreement is a significant step towards strengthening the economic and technological ties between India and Japan. By connecting startups from both countries, the partnership aims to foster innovation, drive economic growth, and create new opportunities in sectors like mobility, manufacturing, and digital technology.

Conclusion

The collaboration between Maruti Suzuki and JETRO presents a valuable opportunity for startups in India and Japan to access new markets, technologies, and partnerships. By leveraging each other’s strengths, this partnership is poised to drive innovation and economic growth, further solidifying the strong relationship between the two nations.