In a significant achievement, the Indian Institute of Technology Madras (IIT-Madras) has announced that its Incubation Cell incubated a record 104 deep tech start-ups in the financial year 2024-25, a substantial increase from the 61 start-ups incubated in the previous year.
Collaborative Efforts Drive Record Growth
The milestone was achieved through the combined efforts of IIT-Madras Incubation Cell (IITM IC) and its sector-specific incubators. These include Pravartak, Bioincubator, HTIC MedTech, RTBI, and the School of Innovation and Entrepreneurship. Approximately 50% of the incubated start-ups were founded by IIT-Madras faculty, staff, students, and alumni, highlighting the institute’s strong culture of innovation and entrepreneurship.
Deep Tech Focus and Ambitious Vision for the Future
Professor V Kamakoti, Director of IIT-Madras, emphasized the significance of the incubated start-ups. All of them are deep tech in nature, spanning industries such as robotics, space tech, UAV, biotech, and assistive tech. He expressed an ambitious goal of achieving ‘Startup Shatam’ by incubating 100 start-ups every year, adding, “With this pace, even an IPO every week could become a reality.” He also highlighted that today’s generation is more entrepreneurial, with many focusing on ventures beyond traditional job markets.
Dedication to Building a Thriving Start-up Ecosystem
Dr. Tamaswati Ghosh, CEO of IITM Incubation Cell, credited the achievement to the dedication of the IC team. She also highlighted the effectiveness of their strategic partnerships. “This milestone reflects the maturity of the IITM ecosystem. It provides deep-tech startups with the confidence and resources to build, scale, and thrive,” she said. Looking ahead, Ghosh noted that the incubator is expanding its reach to start-ups from regions such as East Africa, the Middle East, and Europe.
Institutionalized Support for Translational Research
Prabhu Rajagopal, Head of the School of Innovation and Entrepreneurship at IIT-Madras, explained that the institute’s systematic mechanisms supported a culture of deep science and translational research. This culture made it possible to reach 100 start-ups. He added, “In the coming year, we plan to strengthen mentoring, go-to-market strategies, and drive the emergence of ‘multinational’ start-ups, another vision articulated by our leadership.”
Remarkable Growth Over 12 Years
Over the past 12 years, IIT-Madras Incubation Cell (IITMIC) has incubated 457 deep-tech start-ups. Venture capitalists have raised investments that value these start-ups at over ₹50,000 crore. Among the incubated companies are notable success stories like Ather Energy, Uniphore, Medibuddy, Hyperverge, Stellapps (MooPay), Planys, Agnikul, GUVI, Detect, and Galaxeye. Additionally, the School of Innovation and Entrepreneurship, which hosts IITM’s pre-incubator Nirmaan, currently supports 129 pre-venture teams working on deep-tech themes.
A Bright Future for Deep Tech Innovation
The achievement marks a significant step forward in IIT-Madras’ journey to foster deep tech innovation and entrepreneurship. Thehindubusinessline.com reports that IIT-Madras has an ever-growing support structure and a clear focus on mentorship and scaling opportunities. It will continue leading in nurturing next-generation start-ups and contributing to India’s innovation ecosystem.
