The Indian Institute of Technology, Madras (IIT-M) has long been at the forefront of India’s technology growth and has developed a strong incubation ecosystem to support innovations.
The affiliated IIT Madras Research Park promotes innovation driven activities and gives entrepreneurship a stronger push, by bridging innovations created in the classroom and industry. Spread across 1.2 million sq ft, housing almost 100 entities - research companies, innovation arms of large corporates, startups and incubators - IITMRP has already facilitated the filing of over 60 patents.
The support provided to startups includes - space and infrastructure, access to business support services, mentoring, training programmes to enhance the skills of entrepreneurs and seed funds, to help entrepreneurs survive in the competitive market and reach a stage where they can scale-up their ventures further. This ecosystem is composed of:
* The Centre for Innovation (CFI), founded from funds donated by IITM alumni of 1981 batch, is a student body providing infrastructure, mentorship and support to nurture engineering innovation.
* M.S (Entrepreneurship) programme exposes the students to challenges and opportunities in entrepreneurship and requires them to design, develop, test and prove the techno-commercial viability of products/processes.
* IITM Research Labs, high end research lab facility at various departments at IIT Madras to carry-out research activities.
* The Cell for Technology Innovation, Development and Entrepreneurship Support (C-TIDES) is a student hub for entrepreneurship related activities at IITM serves as a platform for pre-incubation support.
* IITM Incubation Cell (IITM - IC) nurtures and oversees innovation and entrepreneurship at IIT Madras, incubates technology and knowledge based ventures.
* Rural Technology Business Incubator (RTBI) - incubates start-ups whose focus is to impact rural/underserved societal segments, leveraging ICT (Information and Communication Technologies).
* IITM Bio-incubator fosters biotech innovation and entrepreneurship
* Villgro incubates for-profit early-stage innovation based social enterprises.
* Healthcare Technology Innovation Centre (HTIC) a multi-disciplinary R&D centre, to develop technologies that create impact and drive innovation in healthcare.
* The Centre for Social Innovation and Entrepreneurship (CSIE) focus on teaching and research related to social enterprise in India.
* IIT Madras Entrepreneurship Forum (IITMEF) is an initiative launched by the IITM Alumni association to promote entrepreneurial activities among the IIT members, with aims to provide students with apprentice-ship in start-ups and mentorship and expert guidance.
* Centre for Industrial Consultancy and Sponsored Research (IC&SR), dedicated to nurturing and facilitating industrial interactions.
* International and Alumni relations (I & AR) develops strong and sustainable international partnerships with research laboratories, academic institutions, industry, and entrepreneurs.
* Keiretsu Forum a global investor network launched the Chennai chapter in 2014
* TiE Chennai fosters and supports community of entrepreneurs.