IIT Madras to Establish Innovation & Entrepreneurship Fund INR 100 Crore; Check Details

IIT Madras to Establish INR 100 Crore Innovation, Entrepreneurship Fund

New Delhi: Indian Institute of Technology Madras (IITM) is all set to establish an Innovation and Entrepreneurship Fund of INR 100 crore, that will support start-up businesses.

According to the IIT Madras statement, the institute also intends to make sure that at least five of its Centers of Excellence (CEOs) are recognised as being among the best in the world in their specialised fields.

The 100 crore Innovation and Entrepreneurship Fund aims to help academic and student initiatives to launch their own start-ups.

The statement reveals that these were among the institute's main priorities for itself in the Strategic Plan for the term 2022–27. The goals include establishing an institute with a diverse range of faculty, students, staff and conducting basic and translational research that is both nationally and internationally recognised.

IIT Madras claimed that for more than 20 years, it has periodically created and followed strategic plans. As per the statement, the institute will have greatly improved and expanded its infrastructure by the conclusion of this plan period to support its ambitious programmes.

Further, a growing number of specialised world-class research facilities will be housed at the Discovery Campus, the IIT-M satellite campus, which is around 36 kilometres from the main campus, the IITM statement read.

Prof. V Kamakoti, director of IITM, stated that in the next five years, the institute plans to have a diverse group of faculty, students, and staff actively pursuing fundamental and translational research that is both nationally and internationally recognised.

Moreover, the institute aims to associate students from all parts of India, especially rural India, to be affiliated with them as part of this mission.

Additionally, the institute is planning to roll out various new programs and academic outreach initiatives in the next five years, i.e, 2022-27. It will include launching hybrid and online postgraduate programs, as well as multidisciplinary postgraduate programs in various fields such as health policy studies, computational linguistics, disability studies, environmental humanities, digital humanities, and medical humanities.

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