Starburst Accelerator SARL partners with IIT Madras to set up €100 Million Start-up Hub

French aerospace and defence firm Starburst Accelerator SARL is partnering with the Indian Institute of Technology Madras(IIT Madras)to set up an innovative hub for start-ups with the funding support of €100 million (100 Million Euros).

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

Looking forward to this collaboration, Mr. François 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 prestigious institution in the country. We together aim at creating a robust ASD ecosystem that support innovation in Deeptech, and the production in India, to meet the future challenges of Aerospace, New Space and Defence worldwide players”

Read also - [Funding alert] Logistics Startup JustDeliveries Secures $1 Mn Funding Led by Nabventures

The goal of Starburst Accelerator SARL is to raise venture financing for ASD technology, which is a potent force behind India's economic change and integration with international stakeholders. Through Starburst's vast network, this relationship would facilitate export promotion and offer assistance to Indian ASD companies looking to explore foreign markets.

Highlighting the benefits to India from this Startup accelerator initiative, Prof. V. Kamakoti, Director, IIT Madras, said, “Encouraging young entrepreneurs is extremely important as we embark on our journey to become a multi-trillion economy. To this effect, reputed higher educational institutions must aspire to nurture future employers rather than employees. In this context, such collaborations with accelerators to nurture startups in critical and emerging sectors are crucial and timely.”

This program will provide access to entrepreneurs and innovators, drive new technologies, business ideas, and models, and boost the Indian aerospace and defence innovation ecosystem. It will also allow startups and entrepreneurs to explore synergies and avenues of collaboration with Industry, Government, and beyond besides guiding them towards rapid implementation and global commercialization.

About Indian Institute of Technology Madras

Indian Institute of Technology Madras is the foremost institute of national importance in higher technological education, basic and applied research.

About Starburst Accelerator SARL

Starburst Aerospace, a strategic advising firm and the top worldwide startup accelerator for aerospace and defence (A&D), was founded in 2012. They assist aerospace and defence players in innovating, navigating, and investing in the dynamic ecosystem by combining three complimentary activities: ventures, consulting, and accelerators.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.