Lloyd Business School has taken the initiative of establishing its flagship incubator – LLOYD TECHNOLOGY & BUSINESS INCUBATOR (LTBI) – 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-BIMTECH and LTBI 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:

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