THE JHARKHAND STORY NETWORK
Jamshedpur, May 22: In a major push to strengthen Jharkhand’s innovation and entrepreneurship ecosystem, XLRI-Xavier School of Management, Jamshedpur, has signed a Memorandum of Agreement (MoA) with the Jharkhand Industrial Infrastructure Development Corporation (JIIDCO) to support startup incubation and promote sustainable enterprise development in the state.
The collaboration will also include a comprehensive scoping study on circular economy and non-timber forest products (NTFP)-based enterprises in Jharkhand.
Focus on Sustainable and Forest-Based Enterprises
The agreement aims to identify new opportunities in sectors such as non-timber forest produce, agro-processing, recycling and waste-to-wealth initiatives, while promoting enterprises linked to forest-based livelihoods, local culture and sustainability.
Aboobacker Siddique, Secretary, Department of Forest, Environment & Climate Change and Department of Agriculture, Animal Husbandry & Co-operative, Government of Jharkhand, attended the event as the chief guest.
He highlighted Jharkhand’s strong potential in forest resources, agriculture and circular economy-based industries for creating sustainable livelihoods and environmentally responsible businesses.
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Startup Incubation and Entrepreneurship Support
The MoA signing ceremony was chaired by Arava Rajkamal, Secretary, Department of Industries, Government of Jharkhand.
He said the collaboration with XLRI would help build a professionally managed institutional platform to nurture startups and transform innovative ideas into scalable enterprises.
As part of the partnership, XLRI will act as a knowledge partner for JIIDCO and provide incubation support, mentorship, entrepreneurship training, investor connect and institutional guidance.
Six-Month Scoping Study Planned
Under the agreement, XLRI will conduct a six-month scoping study focused on two key areas — circular economy enterprises and NTFP-based enterprises.
The circular economy study will primarily focus on MSMEs and related sectors, while the NTFP study will also explore forest, place and culture-based enterprises with an emphasis on sustainable and inclusive development.
Following the study, XLRI will help identify and incubate 100 enterprises linked to circular economy and forest-based opportunities across Jharkhand.
XLRI Reaffirms Commitment to Jharkhand’s Development
Representing XLRI at the event were Prof. Sanjay Patro, Dean (Academics), Prof. Tata L. Raghu Ram, Prof. Kalyan Bhaskar, Prof. Saurav Snehvrat and Prof. Vinayak Ram Tripathi.
The XLRI team reiterated the institution’s commitment to contributing academic expertise, entrepreneurial support and institutional capabilities towards Jharkhand’s development vision.
JIPL Initiative Also Highlighted
Varun Ranjan, Managing Director, JIIDCO, highlighted XLRI’s earlier collaboration with the state government through the Jharkhand Industrial Policy Lab (JIPL).
He noted that XLRI students had worked on nearly 15 policy-related projects under the guidance of Prof. Kalyan Bhaskar as part of the public policy curriculum.