Tata Steel has recently entered into a Memorandum of Understanding (MoU) with IIT Bhubaneswar Research and Entrepreneurship Park (REP) in order to facilitate innovation, research, and entrepreneurship in mutually beneficial projects.
As per the terms of the agreement, Tata Steel and IIT Bhubaneswar REP, a company established by IIT Bhubaneswar, will engage in collaborative efforts across various domains such as materials processing and modelling, energy and environment, and low carbon steel production, along with circular economy initiatives, according to Tata Steel.
The MoU was formalized during the 100-Cube Start-up conclave in the presence of the Union Minister for Education and Skill Development and Entrepreneurship, Dharmendra Pradhan, on February 11.
In response to the partnership, T V Narendran, the CEO & MD of Tata Steel, conveyed that “The MoU strengthens our partnership with IIT Bhubaneswar, as we work together to co-create solutions for sustainable steel-making and advanced materials.”
Moreover, the collaboration between Tata Steel and IIT Bhubaneswar REP will encompass joint research initiatives, technology transfer, and support for the startup ecosystem.
This collaboration between Tata Steel and IIT Bhubaneswar REP holds potential for significant advancements in the field of steel production and has the capacity to contribute to the sustainable development of the industry.
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