French firm Starburst Accelerator SARL partners with IIT Madras to set up €100M Startup Hub

In a significant move to bolster India's Aviation, Space, and Defence (ASD) sectors, French aerospace leader Starburst Accelerator SARL has partnered with the Indian Institute of Technology Madras (IIT Madras).

The partnership aims to set up an innovative hub for startups with an investment of €100 million. On the other hand, IIT Madras will enable Starburst to set up accelerator programs to boost the Aviation, Space, and Defence (ASD) ecosystem in India.

Creating venture capital funds

Starburst is an international accelerator for aerospace and defence startups. It helps these startups connect with big companies, investors, and governments. Starburst has offices in cities like Los Angeles, Paris, Munich, Singapore, Seoul, Tel Aviv, and Madrid. It claims to have established a network that includes over 17,000 startups.

The initiative will focus on creating venture capital funds specifically for ASD technology startups, aiming to drive technological innovations and make India a hub for ASD innovation on the global stage.

“We believe it is the right momentum to faster emergence of pioneer boundary-pushing technological innovations in India. We're proud and honoured to collaborate with IIT-Madras and work with such prestigious institution in the country," said François Chopard, Founder and CEO, Starburst Aerospace.

"We together aim at creating a robust ASD ecosystem that supports innovation in Deeptech and the production in India, to meet the future challenges of Aerospace, New Space and Defence worldwide player," Chopard added.

Leveraging expertise 

The partnership is designed to nurture a robust ASD ecosystem that supports deep tech innovation and production within India. By leveraging IIT Madras's academic prowess and Starburst's industry expertise, the collaboration will offer structured programs, workshops, seminars, and mentoring sessions tailored for startups. 

Starburst will provide startups with business tools to grow and scale businesses in aerospace and defence to become future suppliers.

In addition, It aims to accelerate the growth of startups and facilitate their integration into the global ASD market.

“Encouraging young entrepreneurs is extremely important as we embark on our journey to become a multi-trillion economy. To this effect, reputed higher educational institutions must aspire to nurture future employers than employees.  In this context, such collaborations with accelerators to nurture startups in critical and emerging sectors are crucial and timely," said Prof. V. Kamakoti, Director, IIT Madras.

Empowering entrepreneurs and startups

A key aspect of this initiative is the creation of a consulting team comprising IIT Madras alumni, experienced military officers, and ASD professionals from Starburst. This team will guide startups in scaling their operations and exploring new technologies, business models, and markets. 

This program will provide access to entrepreneurs and innovators, drive new technologies, business ideas, and models, and boost the Indian aerospace and defence innovation ecosystem.

It will also allow startups and entrepreneurs to explore synergies and avenues of collaboration with Industry, Government, and beyond besides guiding them towards rapid implementation and global commercialization.