IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups

IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups

SUMMARY

IIT Madras is also looking to elevate the rank of at least five Centers of Excellence (CoE) centres to the top three in the globe

The institute will roll out online hybrid postgraduate programmes and multidisciplinary PG programmes in various areas during 2022-27 period

Recently, the AIIMS-Delhi administration announced plans of rolling out a startup policy for its medical students

The Indian Institute of Technology Madras (IIT-M) will create an INR 100 Cr Innovation and Entrepreneurship fund to support students and faculty’s efforts to set up startups.

Further, IIT-M is looking to elevate the rank of at least five Centers of Excellence (CoE) to the top three in the globe, in their respective sectors, PTI reported. 

“These were among the top goals, the institute has set for itself in the strategic plan for the period 2022-27. The targets envisioned include creating an institute with a diversified group of faculty, students and staff, pursuing nationally relevant and internationally recognised basic and translational research,” IIT-M said in a press statement. 

Speaking about IIT-M’s strategic plan for the period 2022-27, Pawan K Goenka, chairman of board of governors at IIT Madras, said the strategic plan will usher in the next phase of the institute’s quest towards global excellence. He further informed that the institute is looking to introduce new programmes in the next five years. And, as per Goenka, by the end of 2027, the institute will be able to develop infrastructure to support such programmes. 

“In the next five years, we would like to realise an IIT Madras with a diversified group of faculty, students and staff actively pursuing nationally relevant and internationally-recognised fundamental and translational research. As part of this vision, we would like to have students from all parts of India, especially rural India to be associated with them,” said V Kamakoti, director of IIT-M.

The institute will roll out hybrid and online postgraduate programmes, and multidisciplinary PG programmes in various areas during 2022-27 period. It plans to launch programmes in health policy studies, computational linguistics, disability studies, environmental, digital and medical humanities. 

These announcements have come at a time when Indian academic institutes have started encouraging students and faculties to set up startups while studying. Recently, the AIIMS-Delhi administration announced plans of rolling out a startup policy for its medical students.

To promote entrepreneurship among medical students, AIIMS-Delhi will be joining hands with other Indian academic institutes such as the Indian Institutes of Technology, Indian Institutes of Management, and Indian School of Business (ISB). Besides this, it will also associate with large corporates including McKinsey, Boston Consulting Group and Bain & Company to provide business management exposure to medical graduates. 

Apart from this, in 2022, different state governments formed startup hubs in their respectives regions to shore up the startup ecosystem.

Further, we have seen Delhi, Madhya Pradesh and Arunachal Pradesh introducing startup policies in the recent past, while states such as Uttar Pradesh and Tamil Nadu revamped their respective startup policies.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups-Inc42 Media
IIT Madras To Set Up INR 100 Cr ‘Innovation and Entrepreneurship Fund’ For Startups-Inc42 Media
You’re in Good company