Lloyd Business School (LBS) has taken the initiative of establishing its flagship incubator – LLOYD TECHNOLOGY & BUSINESS INCUBATOR FOUNDATION (LTBIF) –and the present Memorandum of Understanding (MoU) is an important step in the direction of co-incubation and creating a wholesome innovation ecosystem that promotes entrepreneurship and economic independence.

AIC-BAMU and LTBIF are collaborating to contribute to society by jointly nurturing ideas, supporting innovation, and cultivating an entrepreneurial culture. Both the institutions together have pledged to strive towards building a wholesome and productive entrepreneurial ecosystem. The common points on which the two institutions have agreed are as follows:

• LTBIF and AIC-BAMU will provide each other with technical support.
• Technology-based Startups/Students from AIC-BAMU can access the technical labs in Lloyd for the Research and Development of their prototypes and they can take guidance from the lab in charge.
• LTBIF will encourage their students for internships with Startups incubated in AIC-BAMU.
• AIC-BAMU and LTBIF will co-Incubated Ideas / Students / Startups and curate customised solutions with both the parties sharing credit.
• AIC-BAMU and LTBIF will promote or connect Startups with their respective partners for marketing the Idea or product, in turn resulting in greater networking
• Any Idea / Start-up from LTBIF that will take the help of AIC-BAMU or any idea/start-up from AIC-BAMU that will take the help of Lloyd Business School to grow, will be jointly promoted as a product of both LTBIF and AIC-BAMU.
• Any other cooperation as mutually agreed – joint events, conferences, joint research.
• Under the association, the companies do not have any financial implications but agree to cooperate to strengthen the AIC-BAMU and LTBIF through mentoring and guidance of the incubatees registered under them.
• The participation by each party under this agreement is based on mutual understanding for the benefit of the budding entrepreneurs and industry capacity building.
• A Coordination Committee will consist of two nominees each from LTBIF and AIC-BAMU to coordinate and monitor the mutually agreed areas of cooperation and all related operational matters within the framework of the regulations of AIC-BAMU and the objectives outlined by LTBIF.

This association is aimed to support start-ups and the projects incubated will not be restricted to the students of both institutions. It is open to all.