The IIT Madras Incubation Cell (IITMIC), the institute’s nodal agency for building and scaling deep-tech ventures, has crossed a major milestone by incubating more than 500 startups since its establishment 12 years ago.
With a combined valuation of Rs 53,000 crore and over Rs 17,000 crore in investor funding, these startups are making national impact through strong revenue growth and large-scale job creation.
The portfolio includes companies founded by IIT Madras faculty, students, staff, alumni and external entrepreneurs, covering sectors such as manufacturing, robotics, spacetech, defence, AI, medtech and IoT.
Among the notable success stories are Ather Energy, Uniphore, Agnikul Cosmos, Medibuddy, Hyperverge, Stellapps (MooPay), Planys, Detect, Mindgrove and Galaxeye.
IITMIC-supported startups are building deep intellectual property across some of the most challenging domains, including reusable orbital launch vehicles, organ-on-chip platforms, electric mobility innovations ranging from e-scooters to flying taxis, underwater robotics, quantum security, semiconductors, climate-tech and advanced AI products.
Many of these companies are redefining markets, addressing national challenges and demonstrating strong revenue and global scalability.
To date, IITMIC has incubated 511 startups with a cumulative valuation of over ₹53,000 crore, generating more than 11,000 direct jobs. In FY 2024–25, the incubator achieved its highest-ever annual intake by onboarding more than 100 deep-tech startups under the “Startup Shatam” mission. IITMIC currently screens over 100 startup applications every month.
The incubator provides end-to-end lifecycle support, helping ventures validate their core science and technology, build MVPs quickly, run industry pilots, strengthen governance and gain access to capital and strategic partners.
Startups further benefit from IIT Madras’ global linkages across the US, Middle East, East Africa and ASEAN regions.
Over the past decade, multiple IIT Madras startups have moved from lab-validated technology to scaling in sectors central to global priorities, including climate resilience, advanced manufacturing, space, mobility and frontier AI.
This combination of validated technology, talent and institutional infrastructure is positioning IIT Madras as a strategic deep-tech destination for global investors and industry.
Looking ahead, IITMIC plans to expand its pipeline, accelerate the commercial growth of existing ventures and support global market access through international partnerships.
Strengthening mentoring networks, go-to-market strategies and creating globally competitive deep-tech multinationals remain key priorities.