IIT Madras Incubation Cell’s Magical Journey: 332 Startups, valued at $4.6 Billion, Celebrates the Birth of a Unicorn

• ByStartupStory     |    November 5, 2023

The IIT Madras Incubation Cell celebrates remarkable success in nurturing 332 thriving startups, collectively valued at an impressive $4.6 billion, and attracting a substantial $1.1 billion in investments. Among these, Uniphore has achieved the coveted status of a unicorn. Their remarkable success story reflects an outstanding success rate of over 80%.

“We are very proud of the fact that these are not just companies coming and just building high-tech to sell it to a developed market, but they are also trying to solve the problems individuals in our society are facing.”, said Dr. Tamaswati Ghosh, the CEO of IITM Incubation Cell in the interview with NDTV.

The startups that have been incubated by the IITM Incubation cell all these years are in the areas of manufacturing, robotics, and the Electric Mobility space. The IIT Madras also has incubated companies in the software space developing products in the artificial intelligence, data sciences, and health-tech areas.

And as a whole, when the world is moving towards climate change, the IIT Research Park has aspiring entrepreneurs who are working in net-zero renewable energy as these entrepreneurs are towards solving problems faced by the world through the intervention of technology.

All these startups that are solving major problems are only possible because of the ecosystem that the IIT Madras has in place. With the completion of 10 years, the CEO recalls how the  IITM Incubation Cell started without any grants or support from the government. The aim for the start was to be a vehicle to support and help the approaching entrepreneurs in creating business and along with it experience the journey with them.

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The Incubation Cell grew as a startup in a lean manner focusing on getting the right support network for the first-time entrepreneurs coming in and today stand as an epitome in nurturing hundreds of startups fulfilling the dreams of entrepreneurs who aim to find solution to the country’s problems.

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