The Hindu Business Line : IIT Delhi startup gets Swedish collaborator

New Delhi, Oct. 24 Here is a first for the technology incubation block at IIT Delhi — it has struck a joint venture with a multinational company. Technical startup Mechartes Researchers Pvt Ltd, which consists of first-generation entrepreneurs, alumni and professors of IIT Delhi, has signed a joint venture with Swedish ventilation products major Systemair AB to provide technical services to minimise energy utilisation for buildings.

The new joint venture company, Systemair Software, will provide technology developed by the Mechartes team at IIT Delhi using open-source resources. The technology would be used to optimise design of buildings including predicting temperature distribution inside an air-conditioned room, smoke path in case of fire, and concentration of harmful gases.

Growing,interesting

“We see this technology being used in our basic product range across the globe. India is a growing market and very interesting too. We are currently looking into the possibility of starting a manufacturing unit here,” said Mr Svein Nielsen, Vice President, Systemair Group, though he refused to divulge the kind of investments the company would be making in India.

60% equity

With operations in Europe and North America and a turnover was €293 million, Systemair already has 10 manufacturing units in Europe and America where it manufactures equipment for the full range of residential, commercial, industrial and tunnel ventilation applications. In the new JV it would have 60 per cent equity, while the remaining would be with Mechartes.

“Mechartes has become a major source of our activity here. We have hived out a part of the start-up to service the JV, which is the first with an international company for the incubation centre. However, we will also be pursuing other technology products. Typically, a company is allowed to incubate at the IIT for two-three years, after which it is on its own. Mechartes too will move out around July next year,” said Dr C.V. Ramakrishnan, Emeritus Professor, IIT Delhi and Managing Director, Mechartes.

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