IIT Madras Collaborates with France’s Starburst Accelerator for a 100 Million Aerospace and Defence Start-Up Hub

New Delhi: The Indian Institute of Technology Madras, Chennai recently signed a Memorandum of Understanding (MoU) on March 25, 2024, with Starburst Accelerator (SARL). The two institutes will collaborate to fund around 100 million Euros into an innovation hub for start-up businesses catering to Aviation, Space, and Defence (ASD).

The MoU was signed by SARL CEO Mr. François Chopard and IIT Madras Director Prof. V. Kamakoti. The joint program will provide up-and-coming entrepreneurs in ASD with the connections, technology, and knowledge of SARL. Young businesses will gain theoretical and practical knowledge through seminars, workshops, research opportunities, projects, etc. 

Starburst CEO Mr. François Chopard Interacting with Young Entreprenuers at the MoU Signing Event

Why is the IIT Madras and SARL Partnership Important?

This will help these businesses come up with the necessary strategies to grow and adapt to the ASD market. IITM and SARL will use their resources for market analysis projects, create strategies for transformation and expansion, delve into research on government and corporate lab structures, and study products and investments in ASD for this collaboration.

In addition to their knowledge and inputs, SARL will also begin looking for venture capital companies that wish to fund ASD initiatives all over the world, using its impressive global network. 

At the signing event, François Chopard said, “We believe it is the right momentum to faster emergence of pioneer boundary-pushing technological innovations in India…[we] aim at creating a robust ASD ecosystem that supports innovation in Deeptech, and the production in India, to meet the future challenges of Aerospace, New Space, and Defence worldwide players.”

Prof. V. Kamakoti also spoke at the event. He said, “Encouraging young entrepreneurs is extremely important as we embark on our journey to become a multi-trillion economy. To this effect, reputed higher educational institutions must aspire to nurture future employers rather than employees. In this context, such collaborations with accelerators to nurture startups in critical and emerging sectors are crucial and timely.”

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