IIT Madras is setting a much bigger target for its startup ecosystem. The institute aims to have around 1,000 startups under its fold by 2032, with at least one of them expected to reach the public markets every month.
The target was announced by IIT Madras Director Prof V. Kamakoti at the IIT Madras Alumni Association’s Sangam 2026 meet in Bengaluru. The institute currently has 583 incubated startups with a combined valuation of around Rs 83,000 crore.
IIT Madras currently incubates roughly 100 startups every year, according to Kamakoti. Interestingly, about 75% of these startups are founded by people from outside the institute, suggesting that its incubation network extends beyond its own student and alumni base.
The institute has already backed startups across areas including electric mobility, space technology, enterprise AI and agriculture technology. Its portfolio includes Ather Energy, Agnikul Cosmos, Uniphore and Stellapps, among others.
The proposed scale-up also comes as IIT Madras looks to push more research and technology into commercial applications. Kamakoti pointed to the institute’s 472 patents, while the broader discussion at the alumni meet focused on developing technologies in India rather than relying heavily on imported systems.
The startup target comes alongside a new funding initiative from IIT Madras. The institute has launched the IIT Madras Unicorn Venture Fund with Unicorn India Ventures, which is designed to provide Rs 5 crore to Rs 20 crore to early-stage startups. The fund has received SEBI approval and reached a first close of Rs 453 crore, with Rs 55 crore invested in four startups on launch day.
The fund is focused on areas such as defence and space, semiconductors, robotics, manufacturing, artificial intelligence and health technology. The broader fund is targeting Rs 600–1,000 crore and plans to build a portfolio of around 25 companies, according to reports on its launch.
Kamakoti’s IPO target would take the institute’s startup ambitions beyond simply increasing the number of companies it incubates. If achieved, one IPO every month would mean creating a steady pipeline of companies moving from incubation and early-stage funding towards public markets by 2032–34.
FAQs
- How many startups does IIT Madras have?
IIT Madras currently has 583 incubated startups with a combined valuation of around Rs 83,000 crore.
- What is IIT Madras’ startup target for 2032?
IIT Madras aims to build an ecosystem of around 1,000 startups by 2032.
- Does IIT Madras have an IPO target for its startups?
Yes. IIT Madras Director Prof V. Kamakoti has set a target of seeing one startup go public every month.
- What is the IIT Madras Unicorn Venture Fund?
It is a startup fund launched by IIT Madras and Unicorn India Ventures to provide Rs 5 crore to Rs 20 crore to early-stage startups.
