IITM Incubation Cell, a Stanford in South Chennai, signed MoU with Sona College of Technology
IIT Madras Incubation Cell is India’s largest and successful start-up incubator. They have their mantra to innovate, imitate, and replicate. The incubation cell is modeled on the Stanford University system and gets hold of the best tech talents to start up.
IITM Incubation Cell for over 10 years incubated more than 240 start-ups, which has a total valuation of more than INR 11,400 crore. It has helped to create more than 4,000 jobs. These companies have filed patents for more than 205 innovations. In FY 2020-21 they have generated INR 440 crore.
The cell wanted to spread its goodness to the small town and colleges. They have signed MoUs with the colleges in Tamil Nadu. Sona College of Technology, a part of The Sona Group, is one of those colleges. Ashok Jhunjunwala, Professor and President of IITM Incubation Cell, says, they wanted to help state universities and colleges and help them replicate the model of IITM incubation cell. He wanted to provide the source for the students to start their entrepreneurial journey.
The news is featured in The Times of India, an online news page.