New Delhi, April 30 -- For the first time in its history, IIT Madras has incubated over 100 startups in one financial year. In keeping with IIT Madras Director Prof V Kamakoti's vision of 'Startup 100 Mission' set in early 2024, IIT Madras Incubation Cell (IITMIC) has incubated 104 new startups during 2024-25 FY.
A key highlight of this milestone is that more than 50 per cent of these 104 startups were founded by IIT Madras members - faculty, staff, students and alumni. The remaining 48% of startups were founded by external entrepreneurs, further strengthening and showcasing IITMIC's diverse entrepreneurial ecosystem.
"These are deep core-tech start-ups in sectors such as manufacturing, robotics, automotive materials, battery, construction, defence, ship building, aerospace, UAVs and health tech, besides space technologies, pharma and quantum, among others. The institute has incubated start-ups across a broad spectrum," said Prof Kamakoti.
Over the last 12 years, IITMIC has incubated a total of 457 deep-tech startups, collectively valued at over Rs 50,000 crores (based on investments raised from VCs), with two unicorns and one company on the verge of an IPO. Notable success stories emerging from this ecosystem include Ather, Uniphore, Medibuddy, Hyperverge, Stellapps (MooPay), Agnikul, Planys, Detect, Mindgrove and Galaxeye, among many others.
Published by HT Digital Content Services with permission from Millennium Post.