- A French firm, Starburst Accelerator SARL collaborates with IIT Madras to establish a €100 million startup hub, focusing on boosting India’s Aerospace, Space and Defence ecosystem
French aerospace and defense firm Starburst Accelerator SARL is partnering with the Indian Institute of Technology Madras (IIT Madras) to set up an innovative hub for start-ups with a funding support of €100 million (100 Million Euros), aiming to enable Starburst to set up accelerator programmes to boost Aviation, Space and Defence (ASD) ecosystem in India.
Starburst Accelerator SARL is looking to create venture capital funds for ASD technology, a powerful engine to drive the transformation of India’s economy and its integration with global stakeholders.
This partnership will enable export promotion and provide support for Indian ASD startups to explore international markets through the extensive network of Starburst and aims to strengthen India’s position as a hub for ASD innovation on the global stage.
An MoU towards this collaboration was signed at IIT Madras campus by François Chopard, Founder and CEO, Starburst Aerospace, Cedric Vallet, Innovation and Venture Director, Starburst Aerospace and V Kamakoti, Director, IIT Madras, Manu Santhanam, Dean (ICSR), IIT Madras, in the presence of representatives from IIT Madras and Starburst Aerospace.
A key focus of this partnership will be on entrepreneurs, research parks, investors (public and private), Government, and corporate firms. Starburst Accelerator SARL will work towards achieving long-term Indian ASD programme ambitions. The aim is to create innovative startups and help them grow rapidly to work in tandem with future aerospace and New Space worldwide programs.
This programme will provide access to entrepreneurs and innovators, drive new technologies, business ideas, and models and boost the Indian aerospace and defense innovation ecosystem. It will also allow startups and entrepreneurs to explore synergies and avenues of collaboration with Industry, Government and beyond besides guiding them toward rapid implementation and global commercialisation.
Structured programmes will be created by combining academic knowledge with practical startup guidance, including workshops, seminars and mentoring sessions for Indian Start-up clusters and research and innovative projects. Starburst will provide startups with business tools to grow and scale businesses in aerospace and defense to become future suppliers.
