|
French firm Starburst Accelerator Societe a responsabilite limitee (SARL) has joined forces with the Indian Institute of Technology Madras (IIT Madras) to establish an innovative start-up hub with a substantial funding of 100 Million Euros, in a development for India's aerospace and defence (ASD) sector.
This collaboration aims to foster entrepreneurship and innovation in the aviation, space, and defence domains within India. The partnership between Starburst Accelerator SARL and IIT Madras will see the establishment of accelerator programs geared towards boosting the ASD ecosystem in India. According to IIT Madras, Starburst intends to create venture capital funds specifically tailored for ASD technology, aiming to catalyse India's economic transformation and its integration into global markets. The collaboration is poised to facilitate export promotion and provide support for Indian ASD startups to venture into international markets leveraging Starburst's extensive global network. The memorandum of understanding (MoU) cementing this collaboration was signed at the IIT Madras campus, with Francois Chopard, Founder and CEO of Starburst Aerospace, Cedric Vallet, Innovation and Venture Director of Starburst Aerospace, Professor V Kamakoti, Director of IIT Madras, and Prof. Manu Santhanam, Dean (ICSR) of IIT Madras, among others, in attendance. Starburst Accelerator SARL is renowned globally for its aerospace and defence accelerator programs, connecting startups with corporates, investors, and government entities. With a presence in major global cities including Los Angeles, Paris, Munich, Singapore, Seoul, Tel Aviv, and Madrid, Starburst boasts a vast ecosystem comprising over 17,000 startups. Leveraging its extensive network and industry expertise, Starburst aims to fortify India's position as a hub for ASD innovation on the global stage through this collaboration. Expressing enthusiasm about the partnership, Francois Chopard emphasized its potential to accelerate technological innovations in India's aerospace and defence sectors. Chopard 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." He added, "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" He highlighted the collaboration's focus on fostering a robust ASD ecosystem conducive to innovation and production within India, aligning with the future needs of the aerospace and defence industry worldwide. Professor V Kamakoti, Director IIT Madras, underscored the importance of nurturing young entrepreneurs to drive India's journey towards becoming a multi-trillion-dollar economy. He emphasized the role of esteemed educational institutions like IIT Madras in nurturing startups, particularly in critical and emerging sectors, through collaborations with accelerators. Kamakoti 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 than employees. In this context, such collaborations with accelerators to nurture startups in critical and emerging sectors are crucial and timely." As part of the initiative, Starburst will deploy a consulting team comprising IIT Madras alumni, experienced military officers, ASD managers, and senior consultants from its offices to assist startups in scaling up their operations. The collaboration aims to provide startups with access to resources, expertise, and networks necessary for rapid growth and global commercialization. Structured programs combining academic knowledge with practical guidance will be designed to support Indian startup clusters and research projects. These programs will equip startups with essential business tools, facilitate access to external capital, and accelerate their development in the aerospace and defence sectors. (ANI)
|
