Mumbai, NFAPost: XED Institute of Management announced the launch of Cornell Maha 60, a partnership with the Maharashtra Government to set up a business accelerator centre in Maharashtra in association with the New York-based Cornell University.
The Industries Department Government of Maharashtra has confirmed the establishment of an incubation centre (business accelerator) for three academic years on an experimental basis to train 60 entrepreneurs and build the next set of leaders that continue to spearhead Maharashtra’s meteoric growth.
The candidates will be fully sponsored by the Government of Maharashtra and will be awarded a certificate from Cornell for successful completion.
Announcing the launch of Cornell Maha 60, Development Commissioner (Industries) government of Maharashtra Dr Harshadeep Kamble, (IAS) reiterated the importance of business mentorship and international exposure to budding entrepreneurs.
“Cornell Maha 60 is designed to bridge the gap between their existing entrepreneurial skills and the demands of the contemporary startup ecosystem. The budding young entrepreneurs of Maharashtra have tremendous potential and talent. This is a very special business Accelerator programme, first of its kind in India and first for Cornell University outside USA,” said Dr Harshadeep Kamble.
He also said this Cornell Maha 60 platform will help nurture innovation, lateral thinking and future-ready business skills to build the next generation of entrepreneurs in Maharashtra and inspire many others to follow.
This is India’s first Ivy League Business Accelerator Programme and will be taught by professors from Cornell and award-winning global faculty. The Maharashtra government will enter into a Master Service Agreement with Cornell University and XED(Asia Partner for Cornell). The business accelerator program is in line with Maharashtra State Innovative Startup Policy 2018.
A similar business accelerator program Rev: Ithaca Startup Works has been created in a partnership between Cornell University Ithaca and Tompkins-Cortland Community.
Close on the heels of the success of Rev: Ithaca Startup Works, Cornell University and their Asia business partner XED are keen to replicate the model with Cornell Maha 60. The programme aims to bring together 60 entrepreneurs from across Maharashtra to accelerate their growth by imparting them business mentorship, startup resources acumen, access to capital and a thriving ecosystem of leaders.
XED Institute of Management is one of the largest providers of Customized Executive Education in India, Middle East and SouthEast Asia.
“We are keen to build on the entrepreneurial culture in Maharashtra. Cornell Maha 60 will offer learning opportunities to the marginalised sections of the society. The overarching theme is to foster entrepreneurs in the social arena for a greater social impact,” says John Kallelil, Executive Director, XED.
The business accelerator programme is custom-designed by XED and Cornell University for social entrepreneurs in Maharashtra. In a year-long transformation journey, selected candidates will undergo rigorous training that includes classroom sessions, live online classes led by world-renowned Cornell faculty and subject matter experts. In addition, candidates will have access to personalised mentorship and feedback from coaches, mentors and peers.
The 60 entrepreneurs will be selected from over 250+ applicants in a transparent fashion, based on the evaluation criteria decided by the government and Cornell University. In particular, the programme encourages women applicants, applicants from Scheduled Castes and Scheduled Tribes. The selection committee and jury will be appointed to ensure fair representation and diversity in Cornell Maha 60.
Cornell is a part of the Ivy League and also ranks fourth on Forbes’ annual list of America’s most entrepreneurial colleges. Cornell Maha 60 promises an exciting journey for the next generation of leaders in Maharashtra.
Commenting on the partnership, Dr. Allan. M. Flilipowicz said he is delighted to announce the first business accelerator programme in India.
“The people of Maharashtra have a strong business focus and enterprise acumen. Cornell has designed a startup focused curriculum to aid the ambition of social entrepreneurs in Maharashtra and offer a platform to connect with angel investors, VC networks and industry experts. The business accelerator program will be an incubation lab for budding entrepreneurs and help create a positive economic impact with the creation of new businesses and jobs,” Allan. M. Flilipowicz.
XED is one of the largest provider of Leadership Education in India, Middle East and South East Asia. Founded by alumni of IIT Kanpur and ISB, it boasts of partnership with Ivy League schools and universities globally like Cornell, INSEAD, Chicago Booth, University of North Carolina, SMU, NUS, University of Leeds, etc.
The firm delivered a top line of $8 million and is gearing up for more than $20 million over the next 2 years. Trained more than 10,000+ senior-executive leaders from Pepsico, JSW Group, Tata Group, IBM, Cipla, WNS, Raymond, Meinhardt, John Deere, Bank of America, Swiggy, UAE Government, Adobe, SBI Group, Hindustan Petroleum, Bajaj Finance, among several others