The Indian Institute of Technology Madras (IIT Madras) and IITM Global concluded the first day of Bharat Innovates 2026 in Nice, France, by facilitating seven commercial Memoranda of Understanding (MoUs) between Indian deep-tech startups and international partners, primarily from France, along with two institutional agreements aimed at accelerating global market access, investment and innovation.
The agreements are expected to unlock nearly US$100 million in value creation, further strengthening India’s position as a global hub for deep-tech innovation and international collaboration.
Prof. V. Kamakoti, Director, IIT Madras, described Bharat Innovates 2026 as a watershed moment for Indian deep-tech innovation. He said the agreements were commercially driven, actionable and supported by significant financial commitments, demonstrating the readiness of Indian innovation to compete and lead globally.
The startup partnerships announced during the event included collaborations between Agnikul Cosmos and ICEYE of Finland as well as Safran of France, Detect Technologies and TotalEnergies, TuTr Hyperloop and thyssenkrupp, and iElectron Technologies and ALTEN. In addition, the Indian Angel Network announced a potential investment in The ePlane Company.
Prof. Manu Santhanam, Dean (Industrial Consultancy and Sponsored Research), IIT Madras, said the event reflected the successful conversion of scientific excellence into cross-border economic value. He noted that the projected US$100 million value creation was the outcome of years of focused deep-tech incubation at IIT Madras and that the partnerships with European industry leaders validated the institution’s approach.
Two institutional MoUs were also exchanged to strengthen the global reach of the IIT Madras innovation ecosystem. IITM Global entered into a strategic partnership with Agna Capital to establish the Bharat Innovates Fund for supporting high-potential deep-tech ventures. Another agreement between IITM Global and SouthwestX aims to help Indian startups expand into the German and French markets.
The institutional agreements were exchanged in the presence of Piyush Goyal, Union Minister of Commerce and Industry, and Ajay Sood, Principal Scientific Adviser to the Government of India, reflecting national support for globally connected innovation ecosystems.
IIT Madras also showcased a range of technologies and innovations developed by its research groups and startup ecosystem, including advancements in Hyperloop transportation, 5G and 6G communications, port automation, lab-grown diamond technologies and indigenous artificial intelligence systems designed for efficient computing.
Thirumalai Madhavnarayan, CEO and Director of IITM Global, said the strong response from stakeholders across Europe highlighted the growing global recognition of the IIT Madras innovation ecosystem as a trusted partner in building globally scalable deep-tech enterprises.
The event also attracted interest from industry leaders, academic institutions, investors and government representatives across the European Union, opening avenues for future collaborations in research, innovation, entrepreneurship, talent development and market expansion.
