A memorandum of understanding (MoU) has been signed between Rourkela Steel Plant (RSP) in Odisha and Software Technology Park of India (STPI) for a centre of entrepreneurship (CoE) on emerging technologies.
The MoU was signed on Thursday at an event in Bhubaneswar by RSP executive director (works) SR Suryawanshi and STPI jurisdictional director Manas Panda, the steel firm said in a release on Friday.
The agreement aims to forge a strong and meaningful alliance between the STPI and the RSP to support the upcoming CoE on emerging technologies, known as EmTek.
It is being established with funding from the respective IT departments of the Union and state governments, according to the steel firm, which is under the Steel Authority of India Ltd.
The MoU envisages strong cooperation in mentoring, access to infrastructure and facilities, networking and funding.
The two firms will encourage smooth exchange of information and work out a plan to leverage the STPI's experience in technology implementation and the RSPB's excellence in industrial production, research and manufacturing .
The state-of-the-art facilities -- which will come up in the state capital, with a satellite centre at the Biju Patnaik University of Technology in Rourkela will be one of the leading CoEs of the STPI and the focal point of all initiatives by both the organisations.
The collaboration will help build a strong platform for boosting innovation, entrepreneurship and promoting start-ups.
The MoU envisages providing catalytic improvements in the Digitalization drive and implementation of Industry 4.0 Standards at RSP.