The Foundation for Innovation and Research Support (F.I.R.S.T), IIT Kanpur, and the ASEAN (Association of Southeast Asian Nations) Economic Forum signed a Memorandum of Understanding (MoU) as a crucial step to boost the startup environment across ASEAN nations. The signing ceremony was held in Bali, Indonesia at the India-ASEAN ScaleHub Programme 2024.

IIT Kanpur's technology business incubator, the Foundation for Innovation & Research in Science & Technology (F.I.R.S.T.), was founded with the goal of enhancing the school's innovative and entrepreneurial culture. F.I.R.S.T. focuses on assisting new businesses that create technical and scientific solutions to tackle national issues, especially those that affect impoverished communities.

The program's objective is to advance scientific, technology, and innovation-driven initiatives that foster connections between India and the ASEAN region. These initiatives seek to improve economic relations, foster innovation, and advance sustainable development between India and ASEAN member nations.

Prof. Ankush Sharma, Professor in Charge at SIIC, IIT Kanpur said, "This collaboration marks a significant milestone in fostering innovation and entrepreneurship across ASEAN nations. By leveraging our collective resources and expertise, we aim to provide startups with the tools and opportunities they need to succeed in a competitive global market."