IITM, SSN iFound tie up to support budding entrepreneurs in Tamil Nadu

The aim is to strengthen entrepreneurial talent by identifying, collaborating and incubating startups from partner institutes/incubators in Tier 2, 3 and 4 cities.

Indian Institute of Technology Madras Incubation Cell (IITMIC) has collaborated with SSN Incubation Foundation (SSN iFound), Chennai, the incubation and innovation wing of the SSN College of Engineering. The objective is to develop an ecosystem providing support to promising entrepreneurial ventures. 

As per a release issued by the institute, the collaboration also ties into IITMIC’s 10X initiative to achieve 1,000 incubations by 2030. The aim is to strengthen entrepreneurial talent by identifying, collaborating and incubating startups from partner institutes/incubators in Tier 2, 3 and 4 cities. 

In this direction, IITMIC will support SSN iFound in setting up a student-only run club ‘Build Club’, aiming to create a culture of building products among students. It will also support SSN iFound in conducting training, motivational and experiential talks, and events to create excitement and strengthen its entrepreneurial ecosystem.  

IITMIC and SSN iFound will periodically select start-ups with the potential for co-incubation. Each co-incubatee will receive a host of value-added support, including mentorship (technical and business), networking and training, seed funding and connect to angels/VCs, ‘Startup Engine’ platform, incubation space and various business support services, the release said. 

IIT Madras generates INR 1,000 crore revenue 

IIT Madras generated over INR 1,000 crore in funding and revenue in a financial year for the first time in its history during 2021-22. The sum includes INR 768 crore of funds from projects sanctioned by the State and Central Governments and INR 313 crore in industry consultancy. These collaborations are facilitated by a dedicated team at the Centre for Industrial Consultancy and Sponsored Research (ICSR), IIT Madras, which is headed by Prof Manu Santhanam. 

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