The parties have signed a memorandum of understanding (MOU) to support iTIC Incubator affiliated startup companies
Key Highlights
- Ansys simulation to support iTIC incubator’s objective of aiding technology startup businesses.
- Technical mentoring, and startup access within the iTIC incubator premises
Hyderabad, March 19, 2024: Not-For-Profit Society, IIT Hyderabad Technology Incubation Center (iTIC) an incubator under the aegis of the Indian Institute of Technology Hyderabad (IITH) and Ansys Software Private Limited (Ansys, NASDAQ: ANSS), a leading engineering simulation software company in India, have joined forces to leverage the strengths of both organisations to empower technology startups in the field of engineering simulation. Ansys and iTIC have signed a Memorandum of Understanding in this regard.
“Ansys is excited about the collaboration with IIT Hyderabad’s iTIC Incubator, as this partnership emphasises our unwavering commitment to fostering innovation and empowering technology startups in India. Through this alliance, Ansys is dedicated to providing crucial resources for IITH Startup Companies at a startup price point to catalyse technological advancements and support the vibrant entrepreneurial ecosystem in the country. We look forward to playing a pivotal role in the growth journey of these startups, driving engineering excellence, and contributing to India’s innovation landscape.” said Mike Yeager, Area Vice President of Sales, India and Japan, Ansys.
Technical mentoring, and startup access will be provided for technology startups within the iTIC incubator premises.
“I am looking forward to this collaboration with Ansys as it aligns with iTIC Incubator’s mission to incubate and accelerate startups in India. This strategic partnership will undoubtedly propel the innovative journey of our budding entrepreneurs by facilitating access to simulation tools. Ansys’ commitment to providing simulation for IITH Startup Companies resonates with our vision of nurturing startups from ideation to realisation. This will contribute towards fostering a thriving technological innovation and growth ecosystem in India.” said Dr. S. Surya Kumar, Vice-President, iTIC Foundation.
With a focus on creating a nurturing environment for technology entrepreneurs, the iTIC Incubator provides stage-wise intervention for startups to grow in the deep-tech entrepreneurial ecosystem. iTIC helps entrepreneurs leverage a premier-quality research and startup ecosystem to build a comprehensive platform to practice innovation and entrepreneurship and turn these entrepreneurial ideas into sustainable, scalable, profit-making business ventures.
“Ansys is happy to collaborate with IIT Hyderabad’s iTIC Incubator leveraging the benefits that are part of our Ansys Startups Program. Through this program, we are already working towards making big dreams a reality for early-stage startups with limited funding and resources. Ansys provides full access to Multiphysics simulation software and HPC at affordable prices to facilitate quick and cost-effective engineering projects. The program also provides startups access to Ansys’ broad portfolio of bundled and reasonably priced simulation solutions while considerably cutting down on physical prototype tests, reducing time-to-market for these startups. IITH Startup Companies can also access Ansys Learning Hub, classroom, virtual and self-paced programs designed to improve their technical knowledge.” said Murali Pullela, Sales Director, Ansys.
Ansys has developed its Startup Program to offer early-stage startups access to Multiphysics simulation software and high-performance computing to address engineering challenges efficiently. The program has gained traction globally, with over 2,100 startups from diverse industries benefitting from Ansys solutions since the program’s inception.
