"IIT Madras Collaborates with Starburst Accelerator SARL to Launch €100 Million Startup Hub"

French aerospace and defense company Starburst Accelerator SARL has announced a collaboration with the Indian Institute of Technology Madras (IIT Madras) to launch an innovative startup hub supported by €100 million in funding. The partnership aims to set up accelerator programs to bolster the Aviation, Space, and Defense (ASD) ecosystem in India.

This initiative, facilitated by IIT Madras, will focus on fostering entrepreneurship and collaboration among various stakeholders including entrepreneurs, research parks, investors (both public and private), government agencies, and corporate entities. Starburst Accelerator SARL intends to contribute to the long-term growth of the Indian ASD sector by nurturing innovative startups and facilitating their rapid development to align with global aerospace and New Space initiatives.

One of the key objectives of the partnership is to establish venture capital funds dedicated to ASD technology, with the aim of catalyzing economic transformation in India and enhancing its integration into the global aerospace ecosystem. The collaboration also seeks to promote export activities and facilitate Indian ASD startups in accessing international markets through Starburst's extensive network.

The memorandum of understanding (MoU) formalizing this partnership was signed at the IIT Madras campus on Monday by François Chopard, Founder and CEO of Starburst Aerospace, and V Kamakoti, Director of IIT Madras, along with Manu Santhanam, Dean (ICSR) of IIT Madras.

Starburst Accelerator SARL, a global aerospace and defense accelerator, has offices in Los Angeles, Paris, Munich, Singapore, Seoul, Tel Aviv, and Madrid. With a vast network of key industry players, including over 17,000 startups, Starburst facilitates connections between startups, corporates, investors, and government entities to drive innovation and growth in the aerospace and defense sectors.

HBL