IIT Madras
Bharat Innovates 2026:IIT Madras, IITM Global Exchange nine MOUs worth USD 100 million
The Indian Institute of Technology Madras (IIT Madras) and IITM Global concluded day one of Bharat Innovates 2026 in Nice, France, by exchanging seven commercial and two institutional Memoranda of Understanding (MoUs).
These agreements between Indian deep-tech startups and international partners—predominantly from France—are expected to unlock nearly USD 100 million in value creation, further strengthening India’s position as a global hub for deep-tech innovation.
The institutional MoUs, aimed at accelerating global market access and investment, were exchanged in the presence of Union Minister of Commerce and Industry Piyush Goyal and Principal Scientific Adviser to the Government of India Ajay Sood.
Key collaborations include a partnership between IITM Global and Agna Capital to establish the Bharat Innovates Fund, as well as another with SouthwestX to support Indian startups in scaling across German and French markets.
The startup-level partnerships announced include Agnikul Cosmos with ICEYE (Finland) and Safran (France), Detect Technologies with TotalEnergies, TuTr Hyperloop with thyssenkrupp, iElectron Technologies with ALTEN, and a potential investment in The ePlane Company by the Indian Angel Network. Alongside these agreements, IIT Madras also showcased advancements in Hyperloop, 5G/6G, port automation, lab-grown diamonds, and indigenous AI systems.
V. Kamakoti, Director of IIT Madras, said, “Bharat Innovates 2026 has proven to be a watershed moment for Indian deep tech. The MoUs exchanged are not merely ceremonial; they are commercial, actionable, and backed by strong financial commitments. India’s premier institutions have demonstrated that Indian innovation is ready to lead on the global stage.”
Manu Santhanam, Dean (ICSR), IIT Madras, added, “What we witnessed in Nice was the translation of scientific excellence into cross-border economic value. The nearly USD 100 million in projected value creation is the result of years of focused deep-tech incubation at IIT Madras. These partnerships with French and European industry leaders validate our approach.”
Thirumalai Madhavnarayan, CEO and Director of IITM Global, said, “The overwhelming response from stakeholders across Europe reaffirms the growing global recognition of the IIT Madras innovation ecosystem as a trusted partner for building the next generation of globally scalable deep-tech enterprises.”
Beyond the formal agreements, the event also attracted strong interest from industry leaders, academic institutions, investors, and government representatives across the European Union, opening significant opportunities for future collaboration in research, innovation, entrepreneurship, talent development, and market expansion.
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