the TERI School of Advanced Studies was granted the ‘Deemed to be University’ status by the University Grants Commission (UGC) and notified vide the Ministry of Human Resources Development, Department of Education, Government of India, notification no. F.9/19/95-U-3, dated October 5, 1999. The objective of the TERI SAS is to build capacity around various themes of sustainable development adopting an inter-disciplinary approach and incorporating the most contemporary, research-based evidence into the curriculum. Since its inception, the TERI SAS has offered not just world-class education, but also an environment that enables its students to develop fresh perspective in their subject areas. Beyond the academic programmes, the deemed University is actively reaching out to school and college students as also to mid-career professionals to sensitize them towards the environment and sustainable development in a systemic, solutions-oriented manner. The deemed University started functioning from its ‘green campus’, located in Vasant Kunj, in 2008 and today offers a dozen Masters programmes and has nearly 200 PhD students enrolled.

Lloyd Business School 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.

TERI SAS and LTBIF are getting together 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:

• LBS and TERI SAS will provide each other technical support.
• Sustainability-based Startups/Students from TERI SAS can access the institutional offerings in LBS for the Research and Development of their prototypes and they can take guidance from the mentors.
• LBS will encourage their students for internships with Startups originating at TERI SAS.
• TERI SAS and LBS will co-Incubated Ideas / Students / Startups and curate customised solutions with both the parties sharing credit.
• TERI SAS and Lloyd Business School 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 LBS which will take the help of TERI SAS or any idea/start-up from TERI SAS which will take help of Lloyd Business School to grow, will be jointly promoted as a product of both LBS and TERI SAS.
• Any other cooperation as mutually agreed – joint events, joint conferences, joint research.
• Under the association, the companies do not have any financial implications, but agree to cooperate to strengthen the TERI SAS and LTBI 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 LBS and TERI SAS to coordinate and monitor the mutually agreed areas of cooperation and all related operational matters within the framework of the regulations of TERI SAS and the objectives outlined by LBS.

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