IIT-M backed more than 300 deep-tech startups in 12 years

The Indian Institute of Technology, Madras. (IIT-M)'s incubation centre created over 300 deep-tech startups in the past 12 years, 82% of which survived beyond the first five years, said Ashok Jhunjhunwala, president of IIT-M Research Park and Incubation Cell

- Shraddha Goled

According to Jhunjhunwala, who was speaking at the Mint Digital Innovation Summit, the total valuation of startups incubated by the institute so far stands at $4.6 billion.

"The public valuation of the startups incubated at IIT-M today stands at around ₹38,000 crore, or $4.6 billion. Of our startups, at least 25 have managed to give returns of over 10,000 times the initial investments made in them, over a period of eight to nine years," he said.