French aerospace and defense company Starburst Accelerator SARL has joined forces with the Indian Institute of Technology Madras (IIT Madras) to provide support to Indian startups operating in the aviation, space, and defense domains. This startup hub is set to be established with financial backing totaling €100 million.
A Memorandum of Understanding (MoU) formalizing this collaboration was signed and exchanged at the IIT-M campus between Mr. François Chopard, Founder and CEO of Starburst Aerospace, and Prof. V. Kamakoti, Director of IIT Madras, in the presence of officials from both organizations.
Starburst, renowned as a global accelerator in the aerospace and defense sectors, facilitates connections between startups, corporations, investors, and governmental entities. With a network comprising over 17,000 startups, the firm aims to bolster India’s status as a global hub for innovation in aviation, defense, and space.
Emphasizing the potential benefits for India arising from this startup accelerator initiative, Prof. V. Kamakoti, Director of IIT Madras, underscored the importance of fostering young entrepreneurs as the nation strives towards achieving a multi-trillion-dollar economy. He stressed the need for esteemed educational institutions to nurture future employers rather than employees and highlighted the significance of collaborations with accelerators to support startups in critical and emerging sectors.
In alignment with these objectives, Starburst will establish a consulting team comprising IIT Madras alumni, seasoned military officers, managers from the aerospace, defense, and aviation sectors, as well as senior consultants from Starburst offices. This team will provide assistance to startups in scaling up their operations and navigating the challenges of growth.
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