IIT-Madras Incubator Houses 500 Deep Tech Start-ups wiht ₹53,000 Crore Valuation

India’s deep tech entrepreneurial ecosystem is experiencing notable growth, with the IIT-Madras Incubation Cell (IITMIC) now supporting 500 deep tech start-ups. The combined valuation of these funded start-ups exceeds ₹50,000 crore.

IITMIC, an early investor in prominent deep tech companies like Ather Energy, Uniphore, agnikul Cosmos, and others, has achieved this milestone in its 12 years of operation. The total valuation of its funded start-ups, based on their latest venture capital funding rounds, stands at ₹53,000 crore ($6 billion).Industry analysts suggest this valuation is comparable to that of established angel funds.

The incubator’s start-ups have collectively filed over 700 patents to date.

“We have incubated 500 deep tech start-ups while maintaining a high standard of quality. This is due to the increasing number of applications we receive from deep tech entrepreneurs nationwide, both within and outside the IIT network,” explained Dr. Tamaswati Ghosh,CEO of IITM Incubation Cell,to businessline. She noted that nearly 60 percent of the incubated start-ups originate from outside the IIT system.

The portfolio includes start-ups founded by IIT-M students, faculty, alumni, and external entrepreneurs, spanning sectors like manufacturing tech, robotics, space-tech, IoT, mobility, and biotech. Over 105 start-ups (approximately 20 percent) have secured pre-series/Series A+ funding. Roughly 40 percent are currently generating revenue, with a combined revenue of ₹4,000 crore for FY24.Examples of successful ventures include Ather, Uniphore, Medibuddy, Hyperverge, and Stellapps.