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The Hindu
11-06-2025
- Business
- The Hindu
Cyient Foundation and AICTE sign MoU to build innovation cluster in Visakhapatnam
Cyient Foundation, the Corporate Social Responsibility (CSR) arm of Cyient Limited, and the All India Council for Technical Education (AICTE) signed a Memorandum of Understanding (MoU) to establish an innovation cluster in Visakhapatnam. The MoU was signed in the presence of Minister for Human Resources Development, IT, Electronics and Communication Nara Lokesh, here on Wednesday. The partnership is aimed at strengthening the regional innovation ecosystem by empowering educational institutions to become epicentres of innovation, entrepreneurship, and intellectual property creation. Under the MoU, the pilot programme will focus on transforming higher education institutions in and around Visakhapatnam into vibrant hubs of innovation by fostering collaboration between academia, industry, startups, and investors. The initiative will deploy a structured ecosystem comprising iCARE (Innovation Creation and Research for Entrepreneurship) centres, iCAFE (Idea Creation and Auxiliary Facilities for Entrepreneurship) centres, and IPR-TT (Intellectual Property Rights and Technology Transfer) cells across mentor and mentee institutions. The MoU envisions a three-year roadmap, with Cyient Foundation providing CSR grant support and infrastructure for the initiative. Speaking on the occasion, founder-chairman of Cyient and chief patron of Cyient Foundation, B.V.R. Mohan Reddy said, 'The partnership with AICTE is a significant step towards realising India's potential as a global innovation powerhouse. By nurturing entrepreneurial mindsets and building institutional capacities, we are creating a self-sustaining model that empowers youth, encourages IP creation, and promotes meaningful collaboration between academia and industry.' The collaboration will also include boot camps, innovation fairs, hackathons, and mentoring programmes — all designed to equip students and faculty with the skills and resources necessary for real-world innovation and start-up development. AICTE Vice-Chairman Abhay Jere said that the partnership with Cyient Foundation exemplifies the kind of industry-academia collaboration that can transform the way educational institutions contribute to India's innovation economy. 'By strategically leveraging the collective strengths of educational institutions, industry, and the creative youth talent, these innovation clusters aim to generate a broad and lasting impact on regional innovation, entrepreneurship, and economic growth,' he said, adding that the innovation cluster in Visakhapatnam will serve as a model for future clusters across the nation. AICTE and the Ministry of Education's Innovation Cell implement a variety of national-level initiatives, such as organising the Smart India Hackathon, the world's largest open innovation model, and establishing Institution's Innovation Councils (IICs) in more than 15,700 higher education institutions (HEIs) across India. In Andhra Pradesh alone, over 1,137 IICs have been established in both technical and non-technical institutions, actively driving campus innovation ecosystems. Cities like Visakhapatnam, Vijayawada, Guntur, Tirupati, Kakinada, Nellore, and Anantapur have a high concentration of these institutions, giving them substantial potential to develop into city-level innovation clusters.
Zawya
20-05-2025
- Business
- Zawya
Egypt attracts $8bln in Chinese investment from 2,800 companies
Arab Finance: The number of Chinese companies operating in Egypt has reached approximately 2,800, with total investment costs exceeding $8 billion, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), stated. Heiba's remarks came during his meeting with Wang Weizhong, Governor of Guangdong Province, along with a number of officials from Chinese companies seeking to invest in the Egyptian market. The government is devoting special attention to Chinese investments, as they aim to transfer Chinese technology to Egypt and provide labor-intensive employment, Heiba noted. He revealed that the GAFI plans to establish a complete Chinese textile city in Minya Governorate, adding that three Chinese companies were granted golden licenses to operate in Egypt. The two sides discussed the investment cooperation agenda for the second half (H2) of 2025, which includes the Ministry of Investment and Foreign Trade's participation in the World Economic Forum, which will be held in Tianjin from June 24th to 26th. Furthermore, the Egyptian-Chinese Investment Forum will be held in Cairo next July, with the participation of Chinese Vice Minister of Commerce and International Trade Wang Shouwen. On his part, Feng Xingya, Chairman of Guangzhou Automobile Group (CAG), unveiled the company's plans to invest $300 million for establishing an automotive factory in Egypt to meet local market needs and export. Xu Ziyang, CEO of ZTE, rolled out plans to expand the company's business in the Egyptian market and localize Chinese technology in the country. This comes amid high demand from Egyptian telecom firms for developing the telecommunications infrastructure. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
