IIM Lucknow Launches Blockchain Centre of Excellence to Foster 100 Startups Across Uttar Pradesh
Lucknow 6 september:(Desk)The Indian Institute of Management (IIM) Lucknow has launched a Centre of Excellence in Blockchain Technology (CoE-BT) through its Enterprise Incubation Centre (IIML-EIC). This initiative, supported by the Government of Uttar Pradesh under its StartInUP Policy, is designed to foster innovation and entrepreneurship in the blockchain sector. The CoE-BT aims to create and nurture 100 startups over the next five years, contributing to the state's broader goal of enhancing e-governance through increased trust, transparency, and reliability across various sectors
Objectives and Structure of the CoE-BT
The establishment of the CoE-BT reflects a significant step towards positioning Uttar Pradesh as a leader in blockchain innovation. It is aligned with the state government’s vision to leverage technology for improving governance and service delivery. The Centre will serve as a technology enabler, providing startups with access to shared learning experiences, resources, and a dedicated blockchain platform
As part of this initiative, IIML-EIC will lead the training and onboarding of startups, offering comprehensive support that includes mentorship from over 50 industry and academic experts. This mentorship will cover various aspects of business development and technology implementation, ensuring that startups are well-equipped to navigate the complexities of the blockchain landscape
Collaboration with Microsoft India
A notable aspect of the CoE-BT initiative is its partnership with Microsoft India. This collaboration will facilitate the establishment of three outreach centers across Uttar Pradesh, specifically in Gorakhpur, Lucknow, and Greater Noida/Meerut. These centers are intended to promote and nurture blockchain-based innovation at the local level, making advanced technological resources more accessible to aspiring entrepreneurs
Prof. Ashish Dubey, Faculty-in-charge of IIML-EIC, emphasized the importance of this collaboration, stating that it will help in identifying new opportunities for innovation and support the adoption of new technologies. The partnership aims to keep stakeholders ahead of the curve in the rapidly evolving field of blockchain, ultimately contributing to the development of innovative solutions that can enhance the technological infrastructure of the region
Support and Resources for Startups
The CoE-BT is poised to offer a robust support system for startups, which includes:
Mentorship: Startups will receive guidance from experienced mentors who can help them navigate the challenges of blockchain technology and develop effective business strategies.
Funding Opportunities: The Centre will assist startups in connecting with venture capitalists and other investors to secure the financial backing necessary for growth.
Networking: Startups will have the chance to collaborate with other entrepreneurs, industry experts, and leaders, fostering a community of innovation.
Technical Resources: Access to the latest blockchain technologies and tools will enable startups to develop and test their ideas effectively
Training Programs: Specialized training sessions and workshops will be provided to educate students and aspiring entrepreneurs about blockchain applications across various sectors, including healthcare, finance, and supply chain management.
Impact on the Ecosystem
The introduction of the CoE-BT is expected to significantly impact the entrepreneurial ecosystem in Uttar Pradesh. By nurturing a large number of blockchain-focused startups, the Centre aims to drive technological progress and economic growth in the region. The initiative reflects a commitment to harnessing the potential of blockchain technology to solve real-world challenges and improve service delivery in various sectors
As the CoE-BT begins its operations, it will also focus on addressing the regulatory challenges that startups may face in the blockchain domain. By working closely with government officials and industry leaders, the Centre aims to create a supportive environment that encourages innovation while ensuring compliance with legal frameworks.
