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Starburst accelerator SARL to set up innovation hub in IIT Madras

Economic Times

Economic Times · 1y ago

Starburst accelerator SARL to set up innovation hub in IIT Madras

Indian Institute of Technology (IIT) Madras has partnered with Starburst Accelerator SARL, a French aerospace and defense firm, to establish an innovation hub for startups in India. The collaboration aims to strengthen the aviation, space, and defense ecosystem by providing accelerator programs and funding support of €100 million. The partnership will also help Indian startups explore international markets and connect with corporates, investors, and governments through Starburst's global network. The initiative seeks to fuel entrepreneurship and innovation in the aerospace and defense sector, positioning India as a hub for innovation on the global stage.

Related News

IIT Madras, Starburst To Set Up Accelerator For Aviation Startups

Inc42 · 1y ago

IIT Madras, Starburst To Set Up Accelerator For Aviation Startups

The Indian Institute of Technology (IIT) Madras has partnered with French aerospace company Starburst Accelerator SARL to establish an innovation hub for startups in the aviation, space, and defence (ASD) sector. With a funding of 100 million euros, the initiative aims to mentor emerging Indian startups and help them raise external capital and accelerate development. The accelerator program will provide business tools for startups to scale up, promote exports, and explore international markets. The collaboration is part of India's efforts to reduce imports of defence equipment and support the indigenous production of defence technology.

French firm Starburst Accelerator SARL partners with IIT Madras to set up €100M Startup Hub

IndianStartupNews

IndianStartupNews · 1y ago

French firm Starburst Accelerator SARL partners with IIT Madras to set up €100M Startup Hub

French aerospace leader Starburst Accelerator is partnering with Indian Institute of Technology Madras (IIT Madras) to establish an innovative hub for startups in India's Aviation, Space, and Defence (ASD) sectors. The partnership, backed by a €100 million investment, aims to create venture capital funds for ASD technology startups and drive technological innovations in the industry. Through the collaboration, startups will receive support, coaching, and mentoring to scale their businesses in the aerospace and defence sector. The initiative aims to make India a global hub for ASD innovation and support the growth of startups in the sector.

Hyundai, IIT-M join hands to set up Rs 180 cr hydrogen research hub in TN

Economic Times

Economic Times · 1m ago

Hyundai, IIT-M join hands to set up Rs 180 cr hydrogen research hub in TN

Hyundai Motor India, in collaboration with IIT Madras and the Tamil Nadu government, is establishing the Rs 180-crore 'Hyundai HTWO Innovation Centre' at IIT Madras’ Discovery Campus. Launched by Tamil Nadu Industries Minister T R B Rajaa, the center aims to advance innovation in green hydrogen technology. Scheduled to open in 2026, it will serve as an R&D hub focusing on hydrogen solutions, promoting local innovation, and contributing to India's sustainability goals, aligning with global carbon neutrality efforts.

Chennai will be an AI hub of India soon, says Uniphore’s CEO Umesh Sachdev

Money Control

Money Control · 1y ago

Chennai will be an AI hub of India soon, says Uniphore’s CEO Umesh Sachdev

Uniphore, an AI unicorn, has announced the establishment of its first India AI Innovation Hub in IIT Madras Research Park, Chennai. The hub will support Uniphore's global operations in gen AI and emotion AI research and engineering. With a focus on knowledge AI, emotion AI, and generative AI, Uniphore aims to drive enterprise AI growth and innovation. This move highlights Chennai's potential to become an AI hub in India, alongside its reputation as a hub for enterprise SaaS talent. Uniphore already serves over 1,500 enterprise customers worldwide and recently entered the Unicorn league with a valuation of $2.5 billion.

OpenAI appoints former Coursera executive Raghav Gupta as education vertical head - The Economic Times

Economic Times

Economic Times · 3d ago

OpenAI appoints former Coursera executive Raghav Gupta as education vertical head - The Economic Times

OpenAI has appointed Raghav Gupta, former Asia Pacific MD at Coursera, to lead its education vertical in India and APAC. The company plans to open its first Indian office this year and introduce India-specific educational initiatives, including a learning accelerator with IIT Madras, AICTE, and the Ministry of Education. Additionally, OpenAI announced a $500,000 grant for IIT-Madras to explore AI's classroom applications as part of its expansion efforts in this key market.

Mahindra hails IIT-Madras startup developing electric flying taxis

Internet

Internet · 1y ago

Mahindra hails IIT-Madras startup developing electric flying taxis

Anand Mahindra was amazed by ePlane, a startup from IIT Madras, developing electric flying taxis for speedy urban commutes. Founder Prof. Sathya Chakravarthy plans to unveil their first vehicle in 2025. Mahindra hailed IIT Madras as a top incubator, celebrating India's tech innovation surge. ePlane aims to democratize flying, backed by investors like Angel List's Naval Ravikant.

IIT-Madras to provide funds to incubate sports-tech startups

Economic Times

Economic Times · 1y ago

IIT-Madras to provide funds to incubate sports-tech startups

IIT-Madras is offering funding of up to Rs 5 crore to support sports-tech start-ups in India. The focus will be on AI and IoT-based products, including sensors, networks, and controllers. The funding will be provided by the IIT-Madras Pravartak Technologies Foundation and the IIT Madras Centre of Excellence in Sports Science and Analytics. The areas of interest are media and entertainment, fan engagement, athlete performance enhancement, esports, sports data analytics, sports education, sports commerce, and sports communities. Interested start-ups can apply through the provided link, and the shortlisted ones will present their business during the IIT Madras Sports Technology Start-up Conclave in June. The investment support will range from Rs 10 lakh to Rs 50 lakh per start-up, based on business potential.

Hyundai to invest $7M in battery, electrification research with IITs

YourStory

YourStory · 8m ago

Hyundai to invest $7M in battery, electrification research with IITs

Hyundai Motor Group has partnered with three Indian Institutes of Technology (IIT) to establish a collaborative research system in the fields of batteries and electrification. The group, which will invest $7 million over five years, has joined forces with IIT Delhi, IIT Bombay, and IIT Madras. The Hyundai Center of Excellence will be set up within IIT Delhi and will focus on driving advancements in batteries and electrification that meet the unique requirements of the Indian market. The collaboration will also facilitate exchanges between battery and electrification experts from Korea and India.

IIT Madras plans to launch Rs 200 crore VC fund to support early-stage startups

IndianStartupNews

IndianStartupNews · 1m ago

IIT Madras plans to launch Rs 200 crore VC fund to support early-stage startups

IIT Madras plans to establish a Rs 200 crore venture capital fund, primarily to support early-stage startups in the deeptech sector. Announced at their annual innovation summit, the "IITM Alumni Fund" seeks to focus on pre-Series A and Series A investments, prioritizing IIT Madras incubated ventures. Funded mostly by alumni, this initiative aims to aid 100 deep-tech startups annually, enhancing the institute's already robust startup ecosystem valued at over Rs 50,000 crore.

Campus incubators hoping for the next million-dollar startup - The Economic Times

Economic Times

Economic Times · 23d ago

Campus incubators hoping for the next million-dollar startup - The Economic Times

Colleges across India, like IIT Madras, IIM Bangalore, and IIIT Hyderabad, are enhancing their startup incubation programs to help student ventures scale and attract funding. IIT Madras, a pioneer, saw significant returns from its investment in startups like Ather Energy. Regional universities are also fostering entrepreneurship. Diverse models of campus-backed startups exist, offering varied support. Venture capitalists are increasingly interested in these incubators, particularly those focusing on deep tech and innovation.

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