IIT Madras ties up for euro-100 million start-up hub

In keeping with the mission for promoting India as a science and technology super- power, IIT Madras has decided to tie up with French aerospace and defence firm Starburst Accelerator SARL to set up an innovative hub for start-ups with a funding support of €100 million (100 Million Euros).

Through this collaboration, IIT Madras will enable Starburst to set up accelerator programs to boost Aviation, Space, and Defence (ASD) ecosystem in India, said an official.

Starburst Accelerator SARL is looking to create venture capital funds for ASD technology, a powerful engine to drive the transformation of India’s economy and its integration with global stakeholders. This partnership will enable export promotion and provide support for Indian ASD startups to explore international markets through the extensive network of Starburst.

An MoU towards this collaboration was signed at IIT Madras campus on Monday (25th March 2024) by François Chopard, Founder and CEO, Starburst Aerospace, Cedric Vallet, Innovation and Venture Director, Starburst Aerospace, and Prof. V. Kamakoti, Director, IIT Madras, Prof. Manu Santhanam, Dean (ICSR), IIT Madras, in the presence of representatives from IIT Madras and Starburst Aerospace.

Chopard, Founder and CEO, Starburst Aerospace, said, “We believe it is the right momentum to faster emergence of pioneer boundary-pushing technological innovations in India. We’re proud and honoured to collaborate with IIT-Madras and work with such a prestigious institution in the country.”

Starburst is a global aerospace and defence accelerator, connecting startups with corporates, investors, and government. With offices in Los Angeles, Paris, Munich, Singapore, Seoul, Tel Aviv, and Madrid, the team has built an ecosystem of key players with 17,000+ startups in its network.