IIT Madras & Starburst Accelerator sign MoU to set up €100 million start-up hub

Under this partnership, Starburst will create a consulting team that can be composed of IIT Madras alumni and experienced military officers besides ASD managers and senior consultants from Starburst offices to help start-ups scale up in their growth journey.

Cedric Vallet (2nd R), Innovation & Venture Director, Starburst Aerospace, interacting with Centre for Innovation Students at IIT Madras on March 23. (Source: IIT Madras)

The Indian Institute of Technology, Madras (IIT Madras) has partnered 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.

Under this partnership, IIT Madras will enable Starburst to set up accelerator programs to boost Aviation, Space, and Defence (ASD) ecosystem in India.

“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,” the official release stated.

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Under this partnership, Starburst will create a consulting team that can be composed of IIT Madras alumni and experienced military officers besides ASD managers and senior consultants from Starburst offices to help start-ups scale up in their growth journey. Through this, the two institutes plan to provide access to entrepreneurs and innovators, drive new technologies, business ideas, and models, and boost the Indian aerospace and defence innovation ecosystem.

Additionally, structured programmes will be created by combining academic knowledge with practical startup guidance, including workshops, seminars, and mentoring sessions for Indian start-up clusters and research and innovative projects. Starburst will provide startups with business tools to grow and scale businesses in aerospace and defence to become future suppliers.

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