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IIT-incubated start-ups generate revenue of Rs 433 crore

The start-ups incubated by IIT-Madras Incubation Cell (IITMIC) have generated a revenue of Rs 433 crore during financial year 2019-2020. 

Published: 22nd June 2021 05:22 AM  |   Last Updated: 22nd June 2021 05:22 AM   |  A+A-

IIT Madras

Indian Institute of Technology, Madras. (Photo | Sunish P Surendran, EPS)

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.


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