IIM Lucknow & Microsoft India Partners to Unveil CoE in Blockchain Tech

This initiative, backed by the Government of Uttar Pradesh under its StartInUP Policy, aims to cultivate and support 100 blockchain-focused startups within the state over the next five years.

The Indian Institute of Management, Lucknow (IIM-L) has partnered with Microsoft India to establish a Centre of Excellence in Blockchain Technology (CoE-BT) through its Enterprise Incubation Centre (IIML-EIC). 

Supported by the Uttar Pradesh government under its StartInUP Policy, the initiative aims to nurture 100 blockchain startups across the state over the next five years.

The CoE-BT will function as a technology enabler, providing resources and a dedicated platform for blockchain innovation. The center will facilitate shared learning experiences and provide stakeholders access to mentorship, industry connections, and venture capital funding. 

Additionally, the CoE-BT will offer specialized training programs, helping students and aspiring entrepreneurs develop blockchain applications across various sectors, including healthcare, finance, and supply chain management.

Setting Up 3 Outreach Centers

In partnership with Microsoft India, IIM Lucknow will establish three outreach centers in Uttar Pradesh: Gorakhpur, Lucknow, and Greater Noida/Meerut. These centers will promote and nurture blockchain-based innovation, aiming to position Uttar Pradesh as a hub for blockchain technology in India.

According to the official statement from IIM-L, these outreach centers will be critical in fostering a thriving ecosystem for blockchain startups. The CoE-BT will act as a Resource and Technology Development Center, enhancing the state's technological capabilities and providing a platform for innovation.

Regarding the collaboration, Prof Ashish Dubey, faculty-in-charge at IIML-EIC, said, "The partnership with Microsoft under CoE-BT will open up new opportunities for innovation and support the development of technologies in the rapidly evolving field of blockchain."

The healthcare sector, in particular, stands to benefit from the advancements in blockchain technology. Blockchain's potential to enhance data security, streamline operations, and ensure the integrity of patient records makes it a valuable tool for healthcare innovation. 

As part of the initiative, the CoE-BT will support startups that focus on developing blockchain applications specifically tailored to healthcare needs. 

Furthermore, these startups will receive guidance from over 50 industry and academic experts, who will provide mentorship and help navigate the complexities of integrating blockchain into existing healthcare systems.