Startups

IIT-incubated start-ups generate revenue of Rs 433 crore- The New Indian Express

Read more at www.newindianexpress.com

By Express News Service

CHENNAI: The start-ups incubated by IIT-Madras Incubation Cell (IITMIC) have generated a revenue of Rs 433 crore during financial year 2019-2020. The IITMIC has incubated 240 start-ups so far, which are together valued at over Rs 11,000 crore based on external investment raised from angel/VCs. Giving a major boost to the startup eco-system in the region, the startups have attracted a total investment to the tune of Rs 2,197 crore.

“Our start-ups have generated 5200+ direct jobs, and filed/granted over 200 patents. The companies span the breadth of deep tech/engineering areas in globally critical domains, including manufacturing, robotics, data sciences, IoT, clean-tech, water, healthcare, agri-tech, etc,” said Tamaswati Ghosh, CEO, IITMIC.She further highlighted that under the aegis of IITMIC, IITM has emerged as India’s leading Deep Technology Startup hub with innovation and impact as key drivers.

Read more at www.newindianexpress.com

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