Visakhapatnam Steel Plant signs MoU with STPI to set up Centre of Excellence for start-ups

With an aim to promote innovation and start-ups in the Visakhapatnam Steel Plant and other industries in and around Vizag, a memorandum of understanding (MoU) was signed between Software Technology Parks of India (STPI), STPINEXT and Rashtriya Ispat Nigam Limited (RINL) for Industry 4.0 Centre of Excellence (CoE), here on Monday. 

The MoU was exchanged between Chairman and Managing Director of RINL Atul Bhatt, and Director of STPI CVD Ram Prasad.  

The MoU was signed with the primary objective of strengthening start-ups and an innovation-friendly environment in the Vizag district. Signed for a period of three years, the signatory’s plan enables start-ups to make world-class products in the area of Industry 4.0.  

The start-ups will receive monetary support from the Ministry of Electronics & IT, Government of India (MeitY), RINL and the state government and will be mentored by pioneers such as Schneider Electric, Siemens, SMS group etc. On the research front, renowned institutes such as IIM Visakhapatnam and Andhra University will pledge their support to help start-ups.  

The Centre of Excellence in RINL has been named Kalpataru and is being constructed with over a built-up area of approximately 6,000 square feet at Ukkunagaram, Vizag. The CoE will be equipped with an industrial robotics lab, industrial drones lab and an Internet of Things (IoT) lab along with high-speed internet. It has also been announced that a server setup with cloud computing with the capacity to work in Artificial Intelligence (AI) and Machine Language (ML) will also be set up.  

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