Private Equity

Incubation/Acceleration

French co Starburst Accelerator, IIT Madras join hands for 100-M euros aerospace startup hub

Inc42  

Indian Institute of Technology (IIT) Madras has signed a Memorandum of Understanding (MoU) with French aerospace company Starburst Accelerator SARL to set up an innovation hub for startups.With a funding outlay of 100 million euros, the accelerator initiative will mentor emerging Indian startups in the aviation, space, and defence (ASD) space. It will also help these budding players raise external capital, de-risk investments and accelerate development.The accelerator will offer business tools to the selected startups to scale up their businesses, enable export promotion and provide support for Indian ASD startups to explore international markets via Starburst’s international network.