The Indian Institute of Technology-Madras (IIT-M) has partnered with the French aerospace and defence firm, Starburst Accelerator (SARL), to set up an innovative hub for start-ups. The institute has received a fund of €100 million.
The institute will enable the firm to set up accelerator programmes to boost aviation, space and defence ecosystem in India. A memorandum of understanding (MoU) for the purpose was signed on Monday. François Chopard, founder and CEO, SARL; Cedric Vallet, innovation and venture director, SARL; V. Kamakoti, IIT-M director; and Manu Santhanam, dean, ICSR, were the signatories.
Mr. Chopard said that the collaboration was aimed at creating a robust ecosystem that supported innovation in deep-tech and production in India.
Mr. Kamakoti said that such collaborations with accelerators to nurture start-ups in emerging sectors were crucial.
