IITM Incubation Cell (IITMIC), India’s leading deep-tech start-up hub, has announced its partnership with SSN Incubation Foundation (SSN iFound), Chennai – the SSN-backed incubation and innovation wing College of Engineering. Through this partnership, IITMIC aims to support SSN iFound in developing an ecosystem that nurtures a culture of building and provides incubation support to promising companies.
This collaboration is also linked to IITMIC’s 10X initiative to Accelerated incubation to reach 1000 incubations by 2030, with the aim of building India’s grassroots entrepreneurial talent by identifying, collaborating and incubating startups from partner institutes/incubators in Tier 2, 3 and 4 cities.
As a first step in this direction, IITMIC will support SSN iFound in setting up ‘Build a Club‘ – an all-student-run, student-formed and student-run club that aims to create a culture of building products among students. IITMIC will also support SSN iFound in conducting training, motivational and experiential talks and events to build excitement and strengthen its entrepreneurial ecosystem.
IITMIC and SSN iFound will also periodically select startups with co-incubation potential. Each co-incubate will receive a host of value-added supports including mentorship (technical and business), networking and training support, seed funding and connection to angels/VCs, a “Startup Engine”, an incubation space and various business support services.
Teacher. Ashok Jhunjhunwala, President – IIT Madras Research Park, IITM Incubation Cell & RTBI said: India needs young entrepreneurs more than ever given their ability to actively contribute to economic development. We want to help them nurture that entrepreneurial curiosity at an early stage through ‘Build Clubs’, help them develop their confidence in building products on their own, eventually formally incubate and mentor them to solve the most challenging challenges. India’s most urgent. Through partnerships with institutions like SSN, we believe we can achieve this. We look forward to jointly nurturing wealth creators and next generation entrepreneurs to strengthen India’s startup ecosystem.
Dr. Kala Vijayakumar, Director, SSN Incubation Foundation added, “We are delighted to partner with IIT Madras Incubation Cell, a recognized leader and pioneer in the field of Indian incubation, with high-performing technology start-ups. The SSN Incubation Foundation was created with the aim of supporting aspiring entrepreneurs from concept to market by providing them with the right platform and guidance to realize their start-up dreams. This MoU will enable us to leverage IITMIC’s pool of mentors, infrastructure, networks and systems to create a world-class innovation and entrepreneurship ecosystem at SSN. The synergy between these two institutions will help create many more global success stories from an Indian perspective.