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, 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 the Union Minister of Commerce and Industry, Shri Piyush Goyal, and the Principal Scientific Adviser to the Government of India, Shri Ajay Sood. These include a partnership between IITM Global and Agna Capital to establish the Bharat Innovates Fund, and another with SouthwestX to help Indian startups scale across German and French markets.

The startup 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 Indian Angel Network. Alongside these, IIT Madras presented advancements in Hyperloop, 5G/6G, port automation, lab-grown diamonds, and indigenous AI systems.

Prof. V. Kamakoti, Director, IIT Madras, said, “Bharat Innovates 2026 has proven to be a watershed moment for Indian deep tech. The MOUs exchanged are not just ceremonial - they are commercial, actionable, and backed by serious financial commitments. The premier higher educational institutions of Bharat have demonstrated that Indian innovation is ready to lead on the world stage.”

Prof. Manu Santhanam, Dean (ICSR), IIT Madras, added, “What we witnessed in Nice (France) was the translation of scientific excellence into cross-border economic value. The nearly USD 100 million in expected value creation is a direct result of years of focused deep-tech incubation at IIT Madras. The partnerships with French and European industry leaders validate our approach.”

Mr. Thirumalai Madhavnarayan, CEO and Director of IITM Global, said, “The overwhelming response from stakeholders across Europe reaffirmed 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 generated interest from industry leaders, academic institutions, investors, and government representatives across the European Union, signalling significant opportunities for future collaborations with IIT Madras and IITM Global in research, innovation, entrepreneurship, talent development, and market expansion.

 

 

 

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