IIT-M opens $7.5mn Silicon Valley hub to tap market & venture funding

Chennai: The Indian Institute of Technology Madras (IIT-M), through its international arm Global Research Foundation, has established a startup and tech centre in Menlo Park, California, to tap market and funding opportunities in Silicon Valley, the US's tech and AI hub. The move aims to help Indian deep-tech startups to access the market, capital, talent, mentorship and partnerships. The centre will be developed with an investment of $7.5 million, including a greenfield investment of $ 4.5 million from IIT-M Global, according to a release. It will focus on deep-tech startup incubation and supporting research commercialisation, and aims to strengthen industry–academia partnerships and "enable venture engagement to support the scale-up of high-potential innovations." It also aims to connect with leading policy, financial, and academic ecosystems and attract global innovation into India, IIT-M noted.This is part of an effort by the country's top-ranked university to set up an international campus in Tanzania. Speaking about the centre, Prof V Kamakoti, director of IIT-M and chairman of IITM Global, said, "This expansion into the United States represents a natural progression of IIT-M's vision to take Indian research and innovation to the global stage. The Menlo Park center will further enable deeper collaboration with global industry leaders, academia, and venture ecosystems, fostering cutting-edge innovation and talent exchange." In parallel, IIT-M Global has also announced plans to establish a second centre on the US East Coast to further strengthen its presence across key innovation corridors.
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