IIT Madras aims to achieve 1000 incubations by 2030

Chennai, Nov 1 (KNN) Supporting grassroot entrepreneurs, the Indian Institute of Technology (IIT) Madras Incubation Cell has set a target to achieve 1000 incubations by 2030.

It has also announced its partnership with SSN Incubation Foundation (SSN iFound), Chennai to develop an ecosystem that provides incubation support to promising entrepreneurial ventures.

According to the official statement this partnership also ties into IITMIC’s 10X initiative of Accelerated Incubation of achieving 1000 incubations by 2030.

It aims to strengthen India’s grassroot entrepreneurial talent by identifying, collaborating and incubating startups from partner institutes/incubators in tier 2, 3 & 4 cities.

The institute will further support SSN iFound in setting up ‘Build Club’– a student-only run club, shaped, and managed by them that aims to create a culture of building products among students. 

IIT Madras will also periodically select startups with potential for co-incubation.

Each co-incubatee will receive a host of value-added support including mentorship (technical & business), networking and training support, seed funding and connect to angels/VCs, ‘Startup Engine’ platform, incubation space and various business support services.  (KNN Bureau)