IIT Madras to provide Rs 100 crore fund in support of startups and innovations


IIT Madras: The Indian Institute of Technology Madras (IIT-M) will be establishing an innovation and entrepreneurship fund of Rs 100 crore in support of students and to show how the faculties are putting effort to aid startups.

The institute has a prominent aim and is planning to ensure that a minimum of five of its Centers of Excellence should rank among the top three in the world in their respective fields.

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“IIT Madras is going to establish an Innovation and Entrepreneurship fund of Rs 100 Crore to support student and faculty’s efforts to establish start-ups.” These were among the top goals the institute has set for itself in the Strategic Plan for the Period 2022-27. The targets that have been planned out includes creating an institute with a diversified group of faculty, students an well as staff, pursuing nationally relevant and internationally recognised basic and translational research,” it stated.

IIT-M also highlighted how it has actively been participating in the development as well as following of strategic plans from time to time for more than two decades now.

“By the end of this plan period, the institute will have significantly upgraded and augmented its infrastructure to support its ambitious programmes. The Discovery Campus, which is the satellite campus of IIT-M located about 36 km from main campus, will be home to an increasing number of specialised world-class research facilities,” it said in a release.

Prof V Kamakoti who is the Director of the institute, stated, “in the next five years, we would like to realise an IIT Madras with a diversified group of faculty, students and staff actively pursuing nationally relevant and internationally-recognised fundamental and translational research. As part of this vision, we would like to have students from all parts of India, especially rural India to be associated with,” them.