Bengaluru, Aug 20, 2024: Retail player Titan Company Limited and Indian Institute of Technology Madras (IITM) have signed a Memorandum of Understanding (MoU) to collaborate on a broad spectrum of initiatives aimed at driving innovation and creating significant social impact. This partnership aims to leverage technology, research, and education for mutual benefit and societal advancement.
Titan and IITM will engage in bilateral research and consultancy projects facilitated by IITM's Center for Industrial Consultancy and Sponsored Research (IC&SR). Titan will recruit graduates and interns from IITM, facilitated by the Placement Office of IITM. Employees and faculty from both organizations will participate in research interaction visits, sabbaticals, and advisory roles, coordinated by the Office of Global Engagement at IITM.
Additionally, Titan employees can enrol in IITM’s degree programs, such as M Tech., MS, and PhD, facilitated by the Office of Dean (Academic Research) at IITM. Both parties will jointly offer short-term training programs for IITM students and Titan employees, facilitated by IITM’s Center for Continuing Education. Titan and IITM will collaborate on CSR activities, with Titan providing grants to support faculty research and student scholarships, coordinated by IITM’s Office of Alumni and Corporate Relations. Furthermore, Titan will engage with the IIT Madras Research Park and the IITM Incubation Cell to leverage the ecosystem and collaborate with start-ups.
This MoU, effective from July 8, will remain in force for five years, serving as a strategic framework to explore and execute mutually beneficial projects, research, and training initiatives.
C K Venkataraman, Managing Director, Titan Company Limited, remarked, "This MoU with IIT Madras marks a significant step in Titan’s journey towards innovation and excellence. By combining our industry expertise with IITM’s academic prowess, we aim to create a synergy that fosters ground-breaking research and development. This partnership not only aligns with our strategic vision of continuous improvement and technological advancement but also reinforces our commitment to corporate social responsibility. We look forward to a fruitful collaboration that will drive impactful outcomes for both organizations and contribute to the broader community."
The collaboration between Titan and IITM is poised to set new benchmarks in industry-academia partnerships. With a clear roadmap and defined axes of engagement, both entities are committed to achieving excellence in research, education, and social impact. This MoU paves the way for a series of initiatives that will not only benefit the involved parties but also inspire future collaborations in the industry.
