Raipur, Aug 8 (PTI) The Chhattisgarh government on Friday signed a tripartite memorandum of understanding (MoU) for setting up a centre of excellence (CoE) for innovation and entrepreneurship in engineering and technology at the National Institute of Technology (NIT), Raipur.

The MoU was inked between the state government, NIT, Raipur and the Motilal Oswal Foundation (MOF), an official said.

On the occasion, another MoU was signed between MOF and the Indian Institute of Management (IIM), Raipur for establishing a knowledge centre and constructing a hostel at the business school, he said.

The two MoUs were signed in the presence of Chief Minister Vishnu Deo Sai during a function at Pt Deendayal Upadhyay Auditorium in Raipur.

As per the agreements, MOF will give Rs 71 crore to NIT, Raipur and Rs 101 crore to IIM, Raipur.

Speaking at the event, Sai noted these MoUs will provide significant help in realizing the "Chhattisgarh Anjor Vision" (a document prepared by the government to make the state developed by 2047).

The partnership will bring revolution of education, skill development and innovation to every village in the state and inspire the youth to move forward, the CM maintained.

Under the tripartite agreement, an innovation and entrepreneurship excellence centre will be established at NIT, which will work to make the youth self-reliant through research, experimentation and entrepreneurship, he said.

This Centre of Excellence should not be limited to students of the IIM or NIT alone, but also benefit the youth of every village, the CM said, urging the industrial sector to join the movement of imparting quality education and skill development.

He declared Chhattisgarh is making rapid strides in cutting-edge sectors like semiconductors, artificial intelligence (AI), pharma, defence, aerospace and green hydrogen.

As a result of more than 350 reforms in the last 20 months, a favourable environment for investment has been created in Chhattisgarh and investment proposals worth over Rs 6.75 lakh crore have been received in just eight months, Sai, who assumed office in December 2023, informed the audience.

He called upon people to take a pledge that they will make Chhattisgarh a leading state not in terms of resources alone, but innovation, where the youth will become carriers of change and give direction to society through entrepreneurship.

At NIT, the Motilal Oswal Foundation is helping establish the "Smt Mithilesh Agrawal Centre of Excellence for Innovation and Entrepreneurship in Engineering and Technology" (MACIEET) in collaboration with the institute and the Chhattisgarh government, an official release said.

The centre will feature advanced laboratories focusing on AI, robotics, blockchain, IoT (Internet of Things), and clean energy, along with facilities for prototyping, start-up incubation, and skill development, it said.

The facility's goal is to train over 10,000 young people, incubate more than 250 start-ups, and generate 5,000 skilled jobs by 2030, aligning closely with the state's key industrial sectors such as mining, iron, and steel, according to the release.

Its construction is scheduled to commence in the ongoing financial year, it said.

The support to IIM, Raipur will enable the construction of the "Agrawal Oswal Student Residence," a 202-room hostel, and the "Dau Ram Gopal Agrawal Knowledge Centre," an academic block, the release stated.

The MOF funding will also facilitate the launch of six international two-year dual degree MBA programmes in collaboration with leading universities from the USA, UK, France, and Germany, enabling global education and preparing students from India for global careers, it said.

At the event, Chairman and Co-founder of Motilal Oswal Financial Services, Raamdeo Agrawal, announced to set up what he called the country's largest training centre for farmers in Raipur. PTI TKP RSY

MoU for Centre of Excellence in innovation secures private funding to expand skills, incubation and global MBA partnerships. A tripartite MoU establishes a Centre of Excellence for innovation and entrepreneurship at a national technical institute with advanced labs, prototyping, start-up incubation and skill-development facilities funded by a private foundation to train large cohorts, incubate start-ups and create skilled jobs aligned with state industrial priorities. A separate bilateral MoU funds a knowledge centre, student residence at the business school and international dual-degree MBA programmes; both agreements prioritise inclusive access for rural youth and envisage construction and programme rollout in the current financial year.