IIT Madras Incubation Cell: 332 Startups Valued at $4.6 Billion Celebrate Unicorn Birth

By siliconindia  |  Monday, 06 November 2023, 08:38 IST

IIT Madras Incubation Cell: 332 Startups Valued at $4.6 Billion Celebrate Unicorn Birth
The IIT Madras Incubation Cell is celebrating a remarkable achievement with 332 thriving startups, collectively valued at an impressive $4.6 billion and attracting substantial investments totaling $1.1 billion. Notably, Uniphore has attained unicorn status among them. This remarkable success underscores an outstanding success rate of more than 80%. Dr. Tamaswati Ghosh, CEO of IITM Incubation Cell, expressed pride in these startups for not only creating advanced technology but also addressing societal challenges.
Over the years, the IITM Incubation Cell has nurtured startups across various domains, including manufacturing, robotics, and electric mobility. Additionally, IIT Madras has incubated software companies focused on artificial intelligence, data sciences, and health-tech products. In alignment with global efforts to address climate change, the IIT Research Park supports ambitious entrepreneurs dedicated to developing net-zero renewable energy solutions that leverage technology to tackle global challenges.
The success of these problem-solving startups is largely attributed to the ecosystem cultivated by IIT Madras. Reflecting on a decade of growth, the CEO recalls that the IITM Incubation Cell initially started without government grants or support. Its primary objective was to serve as a platform to aid and accompany emerging entrepreneurs in their business journeys. The Incubation Cell followed a lean startup approach, emphasizing the establishment of a strong support network for first-time entrepreneurs. Today, it stands as a shining example of nurturing numerous startups and helping entrepreneurs realize their dreams of finding solutions to the country's challenges.

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