Cochin Shipyard and IIM Kozhikode Launch USHUS Program to Boost Indian Maritime Startups

Cochin Shipyard Limited (CSL) and the Indian Institute of Management Kozhikode (IIM-K) have joined forces to launch the USHUS program, a pioneering initiative aimed at supporting and nurturing Indian maritime startups. The program, which aligns with national innovation goals, offers a comprehensive package of benefits, including funding up to 1 crore INR, mentorship, and market access.

Under the USHUS program, selected startups will receive virtual incubation support, expert mentorship, seed funding of up to ₹50 lakhs, and prototyping grants of up to ₹1 crore. The program covers a wide range of focus areas within the maritime industry, such as fishing, logistics, autonomous ships, artificial intelligence, machine learning, and more. By providing these resources, CSL and IIM-K aim to empower startups to overcome challenges and drive innovation in the sector.

Why this matters: The USHUS program constitutes a significant advancement in fostering the growth of India's maritime startup ecosystem. By providing critical support and resources, the initiative has the potential to catalyze innovation, create new opportunities, and strengthen India's position in the global maritime industry.

The collaboration between Cochin Shipyard Limited, a leading shipbuilding and repair company, and IIM Kozhikode LIVE, the business incubator and entrepreneurship center of IIM-K, brings together a powerful combination of industry expertise and academic knowledge. This partnership is expected to create a robust support system for aspiring maritime entrepreneurs, helping them navigate the intricacies of the industry and bring their innovative ideas to fruition.

"The USHUS program is a unique opportunity for maritime startups in India to access the resources, mentorship, and financial support they need to succeed," said a spokesperson from Cochin Shipyard Limited. "We are excited to collaborate with IIM Kozhikode LIVE to foster innovation and drive growth in the maritime sector."

The launch of the USHUS program comes at a time when the Government of India is actively promoting entrepreneurship and innovation as key drivers of economic growth. By aligning with national goals and providing targeted support to maritime startups, CSL and IIM-K are contributing to the development of a vibrant and sustainable startup ecosystem in India.

Key Takeaways

• CSL and IIM-K launch USHUS program to support Indian maritime startups.
• USHUS offers funding up to ₹1 crore, mentorship, and market access.
• Program covers areas like fishing, logistics, autonomous ships, AI, and ML.
• Collaboration aims to foster innovation and strengthen India's maritime industry.
• Aligns with India's entrepreneurship and innovation goals for economic growth.