Forget Shark Tank, the real startup story is unfolding at IIT Madras Incubation Cell (IITMIC) in the IIT Madras Research Park
It has an 80% success rate with Startups!
I was there recently and the facilities and startups inside caught my interest so I decided to dig deeper -
It has an 80% success rate with Startups!
I was there recently and the facilities and startups inside caught my interest so I decided to dig deeper -
1/n
Quick History β
- Started with a 400 Cr debt, returned 600 Cr (principal+interest)
- IITMIC didnβt take any grants as they wanted to experience and showcase to startups on how to create a sustainable bootstrapped business β they grew from the ground up in a lean way!
Quick History β
- Started with a 400 Cr debt, returned 600 Cr (principal+interest)
- IITMIC didnβt take any grants as they wanted to experience and showcase to startups on how to create a sustainable bootstrapped business β they grew from the ground up in a lean way!
2/n
- IITMIC as of 2023 end had a portfolio of 351 deep tech startups valued at Rs 45,000 crore ($5.4 billion)
- It has led to 8000-9000 direct jobs as well!
- IITMIC as of 2023 end had a portfolio of 351 deep tech startups valued at Rs 45,000 crore ($5.4 billion)
- It has led to 8000-9000 direct jobs as well!
3/n
Success Stories -
Their start-ups include known name such as Ather Energy (750-800 MN $ valuation , so unicorn status is imminent) β they built everything, right from the chassis to the motor at IITMIC
Agnikul Cosmos and the unicorn Uniphore (was a non IIT Startup)
Success Stories -
Their start-ups include known name such as Ather Energy (750-800 MN $ valuation , so unicorn status is imminent) β they built everything, right from the chassis to the motor at IITMIC
Agnikul Cosmos and the unicorn Uniphore (was a non IIT Startup)
4/n
MediBuddy - Raised $200 million to date and is currently valued at close to $500 million.
Their incubated startups have raised Rs 9500 Cr of funds and generated 1,300 patents.
The below image is of Neo Motion that came recently on Shark Tank -
MediBuddy - Raised $200 million to date and is currently valued at close to $500 million.
Their incubated startups have raised Rs 9500 Cr of funds and generated 1,300 patents.
The below image is of Neo Motion that came recently on Shark Tank -
5/n
Fun Facts on IITMIC -
Survival rate of their startups is 80% v/s 4-6% normally
They plan to end 2024 with 366 patents & 100 startup launches
They also own 1% equity in many of these companies. They are making Rs 50-60 Cr a year!
Equity does create wealth after all!
Fun Facts on IITMIC -
Survival rate of their startups is 80% v/s 4-6% normally
They plan to end 2024 with 366 patents & 100 startup launches
They also own 1% equity in many of these companies. They are making Rs 50-60 Cr a year!
Equity does create wealth after all!
6/n
The 10x Plan!
- A vision plan till 2030
- To raise the number of incubatees to 1,000 a year, from about 45 today
- They aim to partner with 50 to 100 incubators in tier-2, tier-3, and tier-4 institutes and nurture their incubates to succeed
The 10x Plan!
- A vision plan till 2030
- To raise the number of incubatees to 1,000 a year, from about 45 today
- They aim to partner with 50 to 100 incubators in tier-2, tier-3, and tier-4 institutes and nurture their incubates to succeed
7/n
- Nurture ~ 50 products born out of Indian R&D so that each earns annual revenues of βΉ1,000 Cr
- To get Indian technologists among the top 2% in any area
- Work towards ensuring that India is recognised βamong the top five countriesβ in five sectors
- Nurture ~ 50 products born out of Indian R&D so that each earns annual revenues of βΉ1,000 Cr
- To get Indian technologists among the top 2% in any area
- Work towards ensuring that India is recognised βamong the top five countriesβ in five sectors
8/n
Facility description -
- IIT Madras Research Park, a sprawling, 11.5 acre, 1.2 million sq ft complex that offers plug-and-play facilities for corporate R&D work
- Startups incubated in the area of β Manufacturing, Robotics, Automotive (EV), Software (AI, ML, metaverse, product based, generative AI), health tech, medical Devices, Energy sector
Facility description -
- IIT Madras Research Park, a sprawling, 11.5 acre, 1.2 million sq ft complex that offers plug-and-play facilities for corporate R&D work
- Startups incubated in the area of β Manufacturing, Robotics, Automotive (EV), Software (AI, ML, metaverse, product based, generative AI), health tech, medical Devices, Energy sector
9/n
- Built at a cost of Rs 450 Cr
- Hosts around 40 companies - 150 companies in the next 5 years.
- Out of 550 IITM faculty members, 25% are involved in the research park
Sincerely hope that this model gets replicated many other places in India! Really happy to see this!
- Built at a cost of Rs 450 Cr
- Hosts around 40 companies - 150 companies in the next 5 years.
- Out of 550 IITM faculty members, 25% are involved in the research park
Sincerely hope that this model gets replicated many other places in India! Really happy to see this!
10/n
Conclusion - One of the Ultimate Startup incubator/investor is the IITMIC!
Src β My Visit to IITM Research park, CEO interview with NDTV , News sources, Ashok Jhunjhunwala Sirβs address during TIA which prompted me to look further into this (President, IITM Research Park)
Conclusion - One of the Ultimate Startup incubator/investor is the IITMIC!
Src β My Visit to IITM Research park, CEO interview with NDTV , News sources, Ashok Jhunjhunwala Sirβs address during TIA which prompted me to look further into this (President, IITM Research Park)
11/n
This was my 97th Thread on Twitter Since Feb 2023
Retweet the original thread here -
Stay tuned for more :)
This was my 97th Thread on Twitter Since Feb 2023
Retweet the original thread here -
Stay tuned for more :)
Loading suggestions...