The parties have signed a memorandum of understanding (MOU) to create an ‘Ansys – PSG-STEP Simulation Center of Excellence’ to support early-stage technology ventures
Key Highlights
- As Technology Partner, Ansys to empower PSG-STEP with simulation tools to foster development of expertise for technology innovation
- PSG-STEP Incubatees to benefit from Ansys’ industry-leading simulation software and support
Coimbatore, October 15, 2024 — PSG Science & Technology Entrepreneurial Park (PSG-STEP), a leading technology incubator supported by the Department of Science & Technology, Government of India, has signed a Memorandum of Understanding (MoU) with Ansys Software Private Limited, a global leader in engineering simulation software, to empower incubatees with startup aspirations by providing advanced simulation solutions in India. This tactical collaboration will also mark the ‘Ansys Simulation Center of Excellence’ set-up at PSG-STEP, providing early-stage technology ventures and MSMEs access to advanced simulation tools and other resources.
Mike Yeager, Area Vice President, India and Japan at Ansys said, “Ansys is committed to working with the ecosystem to develop expertise that will accelerate the Make in India vision. Through our software tools and expertise, we have helped startups, technology ventures, and organizations of all sizes globally to progress from ideation to a market-ready product. Our collaboration with PSG-STEP will further support the next generation of innovators in India to help them bring their ideas to the market faster and at a reduced cost.”
Murali Pullela, Director of Sales at Ansys said about the MoU, “This collaboration with PSG-STEP marks an important milestone for making advanced simulation technology accessible to incubatees. The Ansys Simulation Center of Excellence at PSG-STEP will drive innovation and cultivate a culture of engineering excellence. This partnership will empower budding entrepreneurs to accelerate product development, reduce costs, and bring groundbreaking solutions to market faster. Ultimately, it will bolster India’s growing technology ecosystem.”
For more than 50 years, Ansys engineering simulation software has enabled innovators across industries to push boundaries using the predictive power of simulation. Ansys software tools enable engineers, entrepreneurs, researchers, and academics to address complex engineering challenges cost-effectively. The software tools have been used across industries, including automotive, aerospace, healthcare, high tech, defense, and more.
Dr. K Prakasan, Principal, PSG College of Technology & Vice Chairman, PSG -STEP, said about the MoU, “This collaboration with Ansys is a game-changer for incubatees and MSMEs that are incubated at PSG-STEP. By providing access to this cutting-edge simulation technology, PSG-STEP can foster a new wave of innovation that will fast-track the growth of the entire entrepreneurial ecosystem. This partnership will play a key role in creating a thriving ecosystem of innovators and technology ventures.”
PSG-STEP has been a hub for fostering technology-based enterprises in domains such as software, electronic products, hi-tech mechanical products, eco-friendly textiles, biotechnology, and nanotechnology. Through its partnership with Ansys, PSG-STEP will now provide an enhanced ecosystem for innovation and entrepreneurship, helping startups accelerate engineering projects. The newly established Ansys Simulation Center of Excellence at PSG-STEP will extend the benefits of this program to a wider group, providing expertise and ready knowledge for startups and MSMEs in the region.
Carefully selected PSG-STEP Incubatees, which are early-stage technology-based ventures within the PSG-STEP ecosystem, will receive comprehensive support, including mentorship, access to state-of-the-art infrastructure, and networking opportunities to accelerate their growth as a part of this partnership with Ansys. As integral members of the PSG-STEP community, the Incubatees will benefit from close collaboration with the incubation center, fostering innovation and entrepreneurial excellence.
