In a key milestone, the Indian Institute of Technology Madras (IIT Madras), through its IITM Incubation Cell (IITMIC), has successfully incubated 104 deep-tech startups in the financial year 2024–25.
Amid commerce minister Piyush Goyal’s statement that India needs to move beyond ‘fancy ice cream’ startups and invest in deeptech, this marks a crucial development.
Over the past 12 years, IITMIC has supported 457 deep-tech startups, now collectively valued at more than ₹50,000 crores. The portfolio includes two unicorns and one IPO-bound company.
This feat completes the ‘Startup Shatam’ mission envisioned by IIT Madras Director, Professor V Kamakoti, setting a new record in deep-tech entrepreneurship at the institute.
“More than 50% of these 104 startups were founded by IITM faculty, staff, students, and alumni, while the rest come from talented entrepreneurs across India — a true testimony to the vibrant, diverse, and inclusive entrepreneurial ecosystem we’ve built,” IIT Madras said in a LinkedIn post.
The startups span sectors including space technology, health, defence, automotive, biotechnology, battery technology, AI, quantum computing, agritech, and IoT. The journey from early-stage support at NIRMAAN IITM to global aspirations highlights the culture of translational research and deep-tech innovation fostered at IIT Madras.
Notable success stories include Ather Energy, Uniphore, MediBuddy, HyperVerge, Stellapps Technologies (MooPay), Planys Technologies, AgniKul Cosmos, GUVI Geek Networks, Detect Technologies, Mindgrove Technologies, and GalaxEye.
“This achievement reflects IIT Madras’ commitment to nurturing innovation and creating global impact through deep-tech entrepreneurship,” the institute said, adding, “Together, we are contributing to building a Product Nation and a Startup Nation on the road to Viksit Bharat 2047.”
