Latest news with #IITMIC
The Hindu
5 days ago
- Business
- The Hindu
IIT-Madras launches School of Innovation and Entrepreneurship to boost startup ecosystem
The Indian Institute of Technology–Madras (IIT-M) has launched a School of Innovation and Entrepreneurship to provide structured academic support for the creation of startups. 'Our goal is to emerge as the leading school for innovation and entrepreneurship in the next five years and put IITM on the map of entrepreneurial universities across the world,' Prabhu Rajagopal, Head, School of Innovation and Entrepreneurship told The Hindu. 'The goal is primarily to provide an academic footprint to the entrepreneurial activities that are going on inside the campus,' he added. According to Mr. Rajagopal, who is a serial faculty-entrepreneur and a faculty member of the Mechanical Engineering Department, the school will offer a wide range of academic and non-academic programs, cutting-edge research in innovation and entrepreneurship, and a distinctive lab-to-startup pathway through the MS in Entrepreneurship (to be offered from the July-November 2025 semester). 'We will bring all the innovation and entrepreneurship initiatives on campus under this school. For example, the Centre for Innovation (CFI) and Nirmaan will now come under the school,' he added. Plans are on anvil to create IITM-specific funding mechanisms at the initiation and scale-up stages for startups, to be housed under the banner of this school. Practice-led degrees at undergraduate and master's levels are also being envisaged. 'We are also looking at an 'Innovation Doctorate,'' Mr. Rajagopal said. 'Last year, IIT-M Director set an ambitious target of incubating 100 startups every year. And we have achieved it. But it can't be a one-time wonder – We need to be doing it on a regular basis every time. And that's why we need to provide academic support for entrepreneurship on campus,' he added. During the financial year 2024–25, IIT Madras Incubation Cell (IITMIC) incubated 104 new startups. Over 50% of these startups were founded by IIT Madras members, including faculty, staff, students, and alumni, while 48% were founded by external entrepreneurs. Over the last 12 years, IITMIC has incubated a total of 457 deep-tech startups, collectively valued at over ₹50,000 crore.
India Today
26-04-2025
- Business
- India Today
A startup every third day: IIT Madras sets new record with 104 ventures in 2024–25
In a great stride towards innovation, the Indian Institute of Technology Madras (IIT Madras) has, for the first time, incubated over 100 startups in a single financial year. This feat fulfils the 'Startup 100 Mission' set by Director Professor V Kamakoti at the start of the combined labour of the IIT Madras Incubation Cell (IITMIC) and the School of Innovation and Entrepreneurship, 104 startups were nurtured during 2024– more than half of these new ventures were founded by members of the IIT Madras community - its faculty, staff, students, and alumni. The remaining portion came from external entrepreneurs, reflecting the strength and openness of the institute's startup ecosystem. Professor Kamakoti made the formal announcement during the World IP Celebrations on 26 April 2025, where key members of the innovation effort were also shared that IIT Madras had filed 417 patents this year - a remarkable pace of more than one patent per startups are working across important deep-tech sectors, such as manufacturing, robotics, automotive materials, defence, aerospace, health tech, space, pharma, and quantum technologies. advertisement Leaders of young companies like Inbound Aerospace and Matterize praised the unwavering support and mentorship they received from IITMIC, which helped shape their ventures from early ideas to thriving Prabhu Rajagopal, head of the School of Innovation and Entrepreneurship, reflected on how what once seemed an impossible goal was now achieved through systematic support for translational research. Meanwhile, Dr Tamaswati Ghosh, CEO of IITMIC, highlighted the rise from an average of 60 startups a year to this historic the past 12 years, IIT Madras has built a powerful deep-tech startup ecosystem, now boasting 457 startups with a collective value above Rs 50,000 crores, two unicorns, and many more successes on the Watch
Mint
25-04-2025
- Business
- Mint
Ather Energy IPO: Forget GMP! THIS IIT incubation cell's ₹15 lakh bet in EV startup would become ₹50 crore gain
Ather Energy IPO: The much-awaited initial public offering (IPO) of EV startup Ather Energy is set to hit the Street on April 28, with a price band of ₹ 304 to ₹ 321 per share. But beyond investor interest and grey market premiums (GMP), Ather Energy IPO marks a significant milestone for the Indian startup ecosystem — particularly for IIT Madras' incubation efforts. Back in 2013, when Ather Energy was in its nascent stages, the IIT Madras Incubation Cell (IITM IC) and its sister entity IITM Rural Technology and Business Incubator (RTBI) took a bold bet on the fledgling EV firm. In exchange for providing office space, mentorship, and crucial early-stage support, the incubators were allotted a 5% stake in the startup. As per the Red Herring Prospectus (RHP) of Ather Energy IPO, IITM IC and IITM RTBI jointly held 15,58,170 shares pre-IPO. While the original 5% stake got diluted over several funding rounds, the entities still collectively hold around 0.5% stake in Ather Energy. At the upper end of the IPO price band of ₹ 321 per share, the total value of these 15.58 lakh shares held by IITM IC and IITM RTBI would be estimated at over ₹ 50 crore, translating into a remarkable 32,000% return on investment. IIT Madras Incubation Cell is set to offload 31,050 Ather Energy shares, while IITM Rural Technology and Business Incubator will sell 4,191 shares of the company in the Offer for Sale (OFS) component of the Ather Energy IPO. This early-stage investment is projected to generate returns exceeding ₹ 1.13 crore. Moreover, this IPO is not just Ather Energy's stock market debut, but also the first-ever public listing for a portfolio company of the IITM Incubation Cell. The company's shares are also available in the grey market. According to market observers, Ather Energy IPO GMP (Grey Market Premium) today is ₹ 5. This means company shares are trading at a premium of ₹ 5 much ahead of the Ather Energy IPO opening date, which is declared on April 28, 2025. Ather Energy IPO will open for subscription on Monday, April 28, and will close on Wednesday, April 30. The IPO allotment date is likely to be May 2, and the listing date is expected to be May 6. Ather Energy IPO price band is set at ₹ 304 to ₹ 321 per share. At the upper-end of the price band, the company plans to raise ₹ 2,980.76 crore from the public issue which is a combination of fresh issue of 8.18 crore equity shares aggregating to ₹ 2,626 crore and an OFS component of of 1.11 crore shares worth ₹ 354.76 crore. Axis Capital, HSBC Securities & Capital Markets, JM Financial, Nomura Financial Advisory And Securities (India) are the book running lead managers of the Ather Energy IPO, while Link Intime India is the IPO registrar.
Mint
25-04-2025
- Business
- Mint
Ather Energy IPO: Forget GMP! THIS IIT incubation cell's ₹15 lakh bet in EV startup would become ₹50 crore gain
Ather Energy IPO: The much-awaited initial public offering (IPO) of EV startup Ather Energy is set to hit the Street on April 28, with a price band of ₹ 304 to ₹ 321 per share. But beyond investor interest and grey market premiums (GMP), Ather Energy IPO marks a significant milestone for the Indian startup ecosystem — particularly for IIT Madras' incubation efforts. Back in 2013, when Ather Energy was in its nascent stages, the IIT Madras Incubation Cell (IITM IC) and its sister entity IITM Rural Technology and Business Incubator (RTBI) took a bold bet on the fledgling EV firm. In exchange for providing office space, mentorship, and crucial early-stage support, the incubators were allotted a 5% stake in the startup. As per the Red Herring Prospectus (RHP) of Ather Energy IPO, IITM IC and IITM RTBI jointly held 15,58,170 shares pre-IPO. While the original 5% stake got diluted over several funding rounds, the entities still collectively hold around 0.5% stake in Ather Energy. At the upper end of the IPO price band of ₹ 321 per share, the total value of these 15.58 lakh shares held by IITM IC and IITM RTBI would be estimated at over ₹ 50 crore, translating into a remarkable 32,000% return on investment. IIT Madras Incubation Cell is set to offload 31,050 Ather Energy shares, while IITM Rural Technology and Business Incubator will sell 4,191 shares of the company in the Offer for Sale (OFS) component of the Ather Energy IPO. This early-stage investment is projected to generate returns exceeding ₹ 1.13 crore. Moreover, this IPO is not just Ather Energy's stock market debut, but also the first-ever public listing for a portfolio company of the IITM Incubation Cell. Ather Energy IPO will open for subscription on Monday, April 28, and will close on Wednesday, April 30. The IPO allotment date is likely to be May 2, and the listing date is expected to be May 6. Ather Energy IPO price band is set at ₹ 304 to ₹ 321 per share. At the upper-end of the price band, the company plans to raise ₹ 2,980.76 crore from the public issue which is a combination of fresh issue of 8.18 crore equity shares aggregating to ₹ 2,626 crore and an OFS component of of 1.11 crore shares worth ₹ 354.76 crore. Axis Capital, HSBC Securities & Capital Markets, JM Financial, Nomura Financial Advisory And Securities (India) are the book running lead managers of the Ather Energy IPO, while Link Intime India is the IPO registrar. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 25 Apr 2025, 04:12 PM IST
