IISc’s FSID Enters Into a Strategic Partnership with UMI to Spur Global Innovation

Bangalore : The Foundation for Science, Innovation, and Development (FSID), a section 8 company established by the Indian Institute of Science (IISc), is pleased to announce a strategic partnership with Universal Materials Incubator Co., Ltd. (“UMI”). This partnership aims to facilitate cooperation between large corporations with a keen interest in Indian innovation, a presence in emerging markets, and a consortium of Indian enterprises poised for global expansion and social impact.

Through these concerted efforts, UMI and FSID aspire to contribute to the advancement of both Japan and India by harnessing the collective strengths of these nations. This strategic alliance seeks to position FSID as a leading platform for the inception of new businesses within Japan’s materials and chemical industries, further propelling innovation and growth.

UMI is a venture capital firm specializing in the materials and chemical industries and has been actively working to enhance its global presence through UMI No. 3 Investment Limited Partnership, formed in October 2022. The collaboration between FSID and UMI signifies a pivotal step towards fostering synergy between Japan’s materials and chemical industries and India’s burgeoning startup ecosystem and economy.