Chennai: IIT Madras Incubation Cell has crossed the 500-startup mark, reflecting the steady expansion of India’s deep-tech entrepreneurship landscape. Established in 2013, the incubator has supported 511 ventures across sectors such as manufacturing, robotics, spacetech, defence technologies, medtech, AI, climate-tech and semiconductors.
The combined valuation of these startups stands at approximately ₹53,000 crore, with total external funding exceeding ₹17,000 crore. Around 190 companies are currently operational, generating ₹4,000 crore in revenue in FY 2023–24 and creating over 11,000 direct jobs. The portfolio has also produced nearly 700 patent filings, emphasising a strong IP-driven approach.
In FY 2024–25, IITMIC recorded its highest annual additions with more than 100 new deep-tech startups, signalling increased demand for early-stage technical support. The incubator continues to evaluate over 100 new applications each month. Its portfolio is a mix of IIT Madras-linked founders and external entrepreneurs, who now account for 61% of the startups.
The institute noted that several ventures are transitioning from technology validation to market-scale operations, particularly in sectors aligned with global priorities such as climate resilience and advanced mobility. Going forward, IITMIC aims to expand international collaborations, strengthen governance frameworks and enhance market access mechanisms for deep-tech ventures.