Chennai, June 16 : The Indian Institute of Technology Madras and IITM Global concluded day one engagement at ‘Bharat Innovates 2026’ in Nice, France, by exchanging seven commercial Memoranda of Understanding between Indian deep-tech startups and their international partners—predominantly from France—alongside two institutional MOUs aimed at accelerating global market access, investment, and innovation.
Collectively, these agreements are expected to unlock value creation of nearly US$100 million, strengthening India’s position as a global hub for deep-tech innovation and cross-border collaboration.
Speaking about Bharat Innovates 2026, Prof. V. Kamakoti, Director, IIT Madras, said,
“Bharat Innovates 2026 has proven to be a watershed moment for Indian deep tech. The MOUs exchanged are not just ceremonial – they are commercial, actionable, and backed by serious financial commitments. The premier higher educational institutions of Bharat have demonstrated that Indian innovation is ready to lead on the world stage.”
The startup partnerships announced included:
●Agnikul Cosmos with ICEYE, Finland, and Safran, France
●Detect Technologies with TotalEnergies
●TuTr Hyperloop with thyssenkrupp
●iElectron Technologies with ALTEN
●Indian Angel Network announced a potential investment in The ePlane Company
Prof. Manu Santhanam, Dean (Industrial Consultancy and Sponsored Research), IIT Madras, added,
“What we witnessed in Nice (France) was the translation of scientific excellence into cross-border economic value. The nearly US$ 100 million in expected value creation is a direct result of years of focused deep-tech incubation at IIT Madras. The partnerships with French and European industry leaders validate our approach.”
The two institutional MOUs further reinforced the global ambitions of the IIT Madras ecosystem:
– A strategic partnership between IITM Global and Agna Capital to establish the Bharat Innovates Fund aimed at catalysing investments in high-potential deep-tech ventures.
– A collaboration between IITM Global and SouthwestX to help Indian startups access and scale across the large German and French markets.
These institutional MOUs were exchanged in the presence of the Honourable Minister of Commerce and Industry, Piyush Goyal, and the Principal Scientific Adviser to the Government of India, Ajay Sood, reflecting strong national support for building globally connected innovation ecosystems.
Alongside the partnership announcements, IIT Madras presented a range of technologies and innovations developed by its research groups and startup ecosystem at Bharat Innovates. These included advancements in Hyperloop transportation, 5G and 6G communications, port automation, lab-grown diamond technologies, and indigenous AI systems designed for efficient computing.
Mr. Thirumalai Madhavnarayan, CEO and Director of IITM Global, said,
“The overwhelming response from stakeholders across Europe reaffirmed the growing global recognition of the IIT Madras innovation ecosystem as a trusted partner for building the next generation of globally scalable deep-tech enterprises.”
Beyond the formal agreements, the event generated interest from industry leaders, academic institutions, investors, and government representatives across the European Union, signalling significant opportunities for future collaborations with IIT Madras and IITM Global in research, innovation, entrepreneurship, talent development, and market expansion.