AU Small Finance Bank (AU SFB), one of India’s largest SFB and Indian Institute of Technology (IIT) Jodhpur, have formally entered a Memorandum of Understanding (MoU) on February 3, Saturday, to drive innovation and foster collaboration in various domains of mutual interests. 

The agreement focuses on co-creating, designing thinking, and innovating for enterprises, engaging in open innovation cohorts with faculty and students, conducting research and development activities, co-advising students on thesis and projects, and various mutually educational activities.

The collaborative efforts will extend into areas such as startup/incubation centres, digitisation of campus for financial services, fintech solutions, and the establishment of a Center of Excellence, among other relevant fields. The partnership aims to create a dynamic ecosystem for innovation, research, and educational activities, leveraging the strengths of both AU Small Finance Bank and IIT Jodhpur. The scope of collaboration remains flexible and may be revised with mutual consent to address emerging challenges in the future.

Since its establishment in 2008 by the Ministry of HRD (Government of India), IIT Jodhpur, a leading institution in technology and education, has been instrumental in supporting industries and Ministry of Micro, Small and Medium Enterprises (MSMEs) for the last 15 years. 

The institute actively encourages emerging entrepreneurs, startups, and research students, aligning with the Make in India initiative. Adapting to the evolving trends in the industry, IIT Jodhpur has introduced new undergraduate (UG), postgraduate (PG), and research programs in diverse subjects such as Artificial Intelligence, Data Science, Sensors, Management and Technology, Computational Science, Digital Humanities, Fintech, and Cyber Security.