Indian Institute of Technology Madras (IIT Madras) has partnered with IndusDC, a deep-tech focused venture studio, to nurture and launch start-ups working towards decarbonisation. This initiative is towards taking ideas straight from research labs to create change in the real world. By enabling a wave of hardware innovation, IIT Madras hopes to propel India to the global forefront of decarbonisation technology leadership.
IndusDC is also setting up its first corpus of $6 million to invest in five cutting-edge decarbonisation start-ups with a prime focus on energy efficiency. This dedicated fund will invest in 15 promising ideas and incubate five startups, driving them to the coveted Product Market Fit (PMF) stage, says a release.
The first phase of commercialisation is currently underway with IndusDC, founded by IIT Madras Alumni Kushant Uppal, collaborating with The Energy Consortium, a Centre of Excellence set up at IIT Madras under the Institute of Eminence initiative.
- Also Read: IIT Madras opens Centre of Excellence for Sustainability aiming to tackle global challenges
Three Intellectual Properties (IP) have already been on-boarded, namely next generation cooling, carbon neutral consumer wear and advanced grid scale storage, while three more are currently under evaluation. The vision of this initiative is to replicate this model across institutes in India and take it to a global level, the release said.
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