IIT Madras partnered with Starburst Accelerator SARL to establish €100 Million Aerospace and Defence start-up hub

French aerospace firm Starburst Accelerator SARL collaborates with IIT Madras to establish a startup hub in India with a funding support of €100 million

French aerospace and defense firm Starburst Accelerator SARL is partnering with IIT-Madras to establish an innovative hub for start-ups with funding support of €100 million (100 million euros). IIT-Madras would enable Starburst to establish accelerator initiatives for the ASD ecosystem in India. Starburst Accelerator SARL seeks to raise venture capital money for ASD technology, which has the potential to alter India's economy and integrate it with global stakeholders. This collaboration will enable export promotion and provide support for Indian ASD startups to reach worldwide markets via the extensive network of Starburst.

This alliance will prioritize entrepreneurs, research parks, investors (public and private), the government, and corporate firms. The goal is to build creative businesses and help them expand quickly so that they may work alongside future aerospace and new space initiatives around the world. Starburst will form a consulting team, which will include IIT-Madras alumni and experienced military officers, as well as ASD managers and senior consultants from Starburst offices, to assist start-ups in scaling up their growth journey. Starburst will equip startups with business tools to help them establish and scale their aerospace and defense enterprises, allowing them to become future suppliers. These steps will also assist start-ups in attracting external financing, mitigating investment risk, and accelerating development.