French Aerospace Firm Starburst Partners IIT Madras To Set-up Startup-Hub With EUR 100 Million Funding

ENA Sectors 2024-03-27 15:58:11 Chennai, Mar 27 (KNN) In a significant boost to India's aviation, space, and defense (ASD) ecosystem, French aerospace and defense firm Starburst Accelerator SARL is partnering with the Indian Institute of Technology (IIT) Madras to establish an innovative startup hub. The collaboration is backed by a substantial funding support of 100 million euros. Through this partnership, IIT Madras will enable Starburst to set up accelerator programs aimed at nurturing and supporting startups in the ASD ecosystem within India. A key focus of this partnership will be on entrepreneurs, research parks, investors (both public and private), the government, and corporate firms. The overarching goal is to create innovative startups and facilitate their rapid growth, enabling them to work in tandem with future aerospace and new space programs worldwide. Additionally, the collaboration will facilitate export promotion and provide Indian ASD startups with access to Starburst's extensive global network, allowing them to explore international markets. A Memorandum of Understanding (MoU) formalising this collaboration was signed on the IIT Madras campus on Monday. The signatories included François Chopard, Founder & CEO, Starburst Aerospace, Cedric Vallet, Innovation and Venture Director, Starburst Aerospace, V Kamakoti, Director, IIT Madras, and Manu Santhanam, Dean (ICSR) at IIT Madras. We aim at creating a robust ASD ecosystem that supports innovation in deeptech and production in India to meet the future challenges of aerospace, new space, and defense worldwide players, said François Chopard, founder and CEO, Starburst Aerospace. Reputable higher educational institutions must aspire to nurture future employers rather than employees. In this context, such collaborations with accelerators to nurture startups in critical and emerging sectors are crucial and timely, stated IIT Madras Director V Kamakoti. Starburst will assemble a consulting team comprising IIT Madras alumni, experienced military officers, ASD managers, and senior consultants from Starburst offices to assist startups in scaling up their growth journey. This program will provide entrepreneurs and innovators with access to new technologies, business ideas, and models, thereby boosting the Indian aerospace and defense innovation ecosystem (KNN Bureau) 37188 https://knnindia.co.in/news/newsdetails/sectors/french-aerospace-firm-starburst-partners-iit-madras-to-set-up-startup-hub-with-eur-100-million-funding 2024-03-27 15:58:11 knnindia.co.in French Aerospace Firm Starburst Partners IIT Madras To Set-up Startup-Hub With EUR 100 Million Funding