31 March 2024 – French aerospace and defense company, Starburst Accelerator SARL, has joined forces with the Indian Institute of Technology Madras (IIT Madras) to establish a startup hub with a funding commitment of €100 million. This partnership aims to bolster the Aviation, Space, and Defense (ASD) ecosystem in India through accelerator programs.
The memorandum of understanding (MoU) for this collaboration was signed at the IIT Madras campus, marking the beginning of a strategic alliance between the two entities. Starburst Accelerator SARL, renowned for its global network and expertise in the aerospace and defense sector, brings invaluable experience to the table. With a presence in several key locations worldwide, including Los Angeles, Paris, and Singapore, Starburst is well-equipped to foster innovation and entrepreneurship.
The collaboration seeks to provide a conducive environment for startups in the ASD sector, enabling them to thrive and contribute to India’s emergence as a global leader in aerospace and defense innovation. François Chopard, Founder and CEO of Starburst Aerospace, expressed optimism about the partnership, emphasizing its potential to drive technological breakthroughs and support India’s ambitious goals in the ASD domain.
The initiative will focus on nurturing entrepreneurs, fostering collaboration between industry stakeholders, and accelerating the growth of innovative startups. Prof. V. Kamakoti, Director of IIT Madras, highlighted the significance of such partnerships in nurturing future employers and fostering critical sectors.
Through this program, startups and innovators will gain access to resources, mentorship, and opportunities for collaboration with industry and government entities. Additionally, the initiative aims to attract external capital, mitigate investment risks, and expedite the development and commercialization of cutting-edge technologies in the aerospace and defense sector.
