New Delhi: Indian Institute of Management-Lucknow's (IIM-L) Enterprise Incubation Centre or L-Incubator signed an MoU with The Energy Resource Institute (TERI) to nurture energy sector start-ups. "The focus of the incubator is to help entrepreneurs with strategy, business plans and models, marketing and fund raising," said TERI director Puneet Chandra.Chandra added, "India is currently at a very interesting stage of economic growth. Globally, technology has been used to disrupt traditional sectors very effectively. The story in India is no different."
India's trademark jugaad, now known as 'frugal innovation', needs to be institutionalised to create social enterprises. "TERI has sophisticated labs to carry out biotechnology research. It also has facilities to take products from lab-scale to pilot-scale and finally, to commercial-scale. This will be made available to entrepreneurs to build a social enterprise using biotechnology in the areas of energy and environment," he concluded.