The Indian Institute of Management (IIM) Mumbai has collaborated with European accelerator Starburst in order to promote aerospace, new space, and defence (ASD) start-ups in India.

This strategic collaboration aims at cultivating an ASD ecosystem centred around the prestigious B-School in India's financial capital, reported PTI.

The alliance would provide vital support and resources to ASD start-ups across the nation, a statement issued today, Friday, March 29, informed.

The partnership comes amid India seeing growth and transformation in the aerospace, new space, and defence sectors, it added.

"This strategic collaboration signifies a crucial step towards nurturing and empowering the burgeoning ASD start-up ecosystem in India," IIM Mumbai Director Manoj K Tiwari said.

Through the collaboration, Starburst, known for its global network and deep industry knowledge, will provide ASD start-ups “with access to mentorship, funding opportunities, and international networks”, said Francois Chopard, Founder and CEO of Starburst.

“By leveraging the expertise and resources of both institutions, we aim to provide unparalleled support to ASD start-ups, enabling them to thrive and contribute significantly to India’s ASD industry. We are excited to partner with IIM Mumbai to foster innovation and entrepreneurship within the aerospace, new space, and defence sector in India,” he further added.