In a significant development today, the Indian Institute of Management Ranchi and the Tata Steel Foundation have formally entered into a collaborative partnership by signing a Memorandum of Understanding (MoU). The primary objective of this partnership is to enhance social impact initiatives, promote research activities, and facilitate knowledge sharing within the state of Jharkhand. The MoU signing ceremony witnessed the participation of Dr. Deepak Kumar Srivastava, Director, IIM Ranchi, and Mr. Sourav Roy, CEO, Tata Steel Foundation. The MoU, signed in accordance with IIM Ranchi's strategic plan “IIM Ranchi@2030”, outlines several key objectives that both institutions are committed to achieving collaboratively:

a. Co-design and co-facilitation of courses, exposures, and immersive experiences for students at IIM Ranchi on the subject of social impact.

The partnership will enable students at IIM Ranchi to gain practical insights into the world of social impact through specially designed courses and experiences, equipping them with the skills and knowledge needed to drive positive change in society.

b. Create a regional think tank for Jharkhand which sits at the intersection of research and policy practice.

The collaboration seeks to establish a dynamic think tank that will serve as a hub for research and policy development, addressing pressing issues facing Jharkhand. This initiative aims to bridge the gap between academic research and real-world policy implementation.

c. Co-create new knowledge which shall feature in academic and other publications.

IIM Ranchi and Tata Steel Foundation will work hand in hand to generate valuable insights and knowledge through joint research projects. The outcomes of these endeavors will be shared through academic publications and other mediums, contributing to the broader body of knowledge in the field of social impact.

d. Curate participation for local community representation through IIM Ranchi platforms/initiatives.

The collaboration emphasizes community engagement and inclusivity. It seeks to involve the local community in various IIM Ranchi initiatives, ensuring that the voices and perspectives of the people of Jharkhand are represented and considered in all relevant projects and activities.

This partnership between Indian Institute of Management Ranchi and Tata Steel Foundation holds great promise for the future, as it brings together academic rigor and corporate social responsibility to create a better, more inclusive society for the people of Jharkhand.