IIT Madras Launches Research Foundation

Indian Institute of Technology Madras (IIT Madras) is launching the IIT Madras Research Foundation to drive its global aspirations, a catalyst for start-ups coming out of the Institute’s cutting-edge tech ecosystem landscape to access the global markets, capital, funding for research & innovation, scaling its Academic Master’s and Doctoral Programmes through strategic University Collaborations as well as Industry Partnerships.

Institute has appointed ‘Thirumalai Madhavnarayan’, a senior business management and technology professional, as the first CEO of the IITM Research Foundation.

Outlining the vision for IIT Madras Research Foundation, V Kamakoti, Director, IIT Madras, said, “IITMRF is a strategic initiative aligned with India’s vision to become the Vishwaguru and to be a creator of global startups.”

The Key focus areas of the foundation will include 

1. Patents and technologies ready for commercialisation.
   
   
2. Start-ups established by IITM faculty founders, students and researchers.
   
   
3. Explorations based on market thesis (e.g., Green growth).
   
   
4. Giving global access to Start-ups from the IIT Madras ecosystem and providing them exposure to new markets, capital & technological adjacencies.
   
   
5. Access to IIT Madras-created technologies for alumni.
   
   
6. Scaling of International Academic Programmes through Strategic Collaboration and Industry Partnerships.

Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said, “We believe that IITMRF will be a game changer not just for IIT Madras, but for the country because it would have demonstrated a model for an academic institution to take its innovation to the global stage.”

IIT Madras boasts a vast research and innovation portfolio, with 161 active patents in the US and over 10,000 alumni in senior leadership positions and founding companies and start-ups in the US.

Madhav Narayan, Chief Executive Officer, IIT Madras Research Foundation (IITMRF), said, “The IITMRF would be a scalable and sustainable ‘plug and play’ platform with local flavour, to take IIT Madras assets global, fuelling exponential growth in innovation & entrepreneurship, enhanced Industry Engagement and R&D partnerships.”

In 2017, Madhav Narayan was commissioned by the Dubai Electricity and Water Authority to assist in developing their Digital Strategy, aligning with the government's '10X programme'. This involved forming strategic partnerships with technology vendors, leading universities and the WEF 4IR Centre to collaborate, co-invest, co-create and co-market digital solutions using new technologies, thereby disrupting processes and creating new opportunities.