The Sona Group and MDI Gurgaon set up an incubation center for young entrepreneurs

Company Brief

New Delhi, February 19, 2008

The Sona Group, a leading manufacturer of Steering Systems and Driveline Components and Management Development Institute (MDI), Gurgaon together laid the foundation stone for an incubation centre today at the MDI campus. The foundation stone was unveiled by Mr. Azim Premji, Chairman Wipro Ltd. The S.P Kapur center for innovation and entrepreneurship will be named after Dr. Surinder Kapur's father.

The centre will identify potential innovators/entrepreneurs from the MDI student community, alumni and industry in the region as also members of the weaker sections of the society and will encourage them to develop their business proposition into viable business. The incubation centre will nurture the growth of entrepreneurs by not only providing them with financial support but will also offer services like strategic guidance, access to investors, mentors, and a ready-made network of contacts. Help will also be extended in building the management team, providing specialized training, providing space, and other professional services at affordable costs.

The centre will work in collaboration with Ministry of Small & Medium Enterprises, Department of Science & Technology, Confederation of Indian Industry (CII) etc. for value creation and to helping the cause of innovation and entrepreneurship.

On the occasion Azim Premji, Chairman Wipro Ltd, said, India is full of entrepreneurs and innovators. However, they lack the proper support and resources. I am very glad that the Sona Group and MDI have taken an initiative to facilitate the ecosystem that is required to give an impetus to the young entrepreneurs of India. I firmly believe that the center has all the potential to provide professional training in addition to the regular curriculum based education imparted at the institute.

Dr. Surinder Kapur’s personal journey as an entrepreneur and as a leader of the CII Mission on Innovation in Manufacturing since 2006 has had a profound

impact on him and the Sona Group as an organization. Speaking on the occasion Dr. Surinder Kapur, Chairman, The Sona Group said, I strongly believe that India is a land of billion opportunities and has abundant capacity in every area for varied businesses. I hope that the setting up of S.P.Kapur Centre for Innovation and Entrepreneurship will help promote all the students who want to convert their idea into business. The creation of the center will assist the entrepreneurs gain industry support, financial resources, guidance and establishment of strategic and international partnerships.

Speaking on the occasion Dr. Basu, Director MDI Gurgaon, said, We strongly believe that entrepreneurship is the key ingredient of the country's economic growth. The combination of the expertise of the MDI faculty and the S. P. foundation will together help the students reach new heights and be successful entrepreneurs. He elaborated the aspirations of MDI to be a unique business school which is committed to promote innovation and entrepreneurship.

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Neha Mehrotra

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