IIT Madras Launches Research Foundation To Explore Global Market
IIT Madras launched the ‘IIT Madras Research Foundation’ with a vision to expand its global footprint. The foundation will be a catalyst for the startups coming out of the institute’s cutting-edge tech ecosystem to access global markets and funding for research and innovation, IIT stated. It will help in catalyzing startups, patents, and technologies originating from the institutes’ ecosystem.
In the US, the institute holds 161 patents. In addition to creating businesses and startups, more than 10,000 alumni of the institute hold senior leadership roles in prestigious corporate corporations across the US.
IITMRF will focus on patents and technologies that are ready for commercialisation, as well as startups founded by faculty members, students, and researchers at the institution. Additionally, it will investigate according to the market thesis, grant entrepreneurs access to the institute”s ecosystem and introduce them to new funding sources, technological advancements, and markets.
With a vision to expand @iitmadras” global footprint, #IITMadras has launched the ‘IIT Madras Research Foundation’. It will be a catalyst for the #startups coming out of the Institute’s cutting-edge tech ecosystem to access global markets and funding for #research & #innovation. pic.twitter.com/n61k5YwFyG
— IIT Madras (@iitmadras) April 8, 2024
Furthermore, it would facilitate alumni access to technology developed by the institute and enable the expansion of worldwide academic programs via corporate ties and collaborations.
As per the IITM, to take IIT Madras assets global and spur exponential growth in innovation and entrepreneurship, as well as improved industry involvement and research and development partnerships, the IITMRF would be a scalable and sustainable “plug and play” platform with a local flavor.
Reportedly, IIT Madras has appointed Mr. Thirumalai Madhavnarayan, a senior business management and technology professional as the first CEO of the IITM research foundation. Mr. Narayan has over 37 years of experience in business strategy, development, transformation, and scaling for multinational technology companies like Epson, Samsung, HP, Dell, and Intel. He has been one of the founding members of the Redington group.
