IIT Madras Research Park (IITMRP) is partnering with Unicorn India Ventures (UIV) to launch a Rs 600 crore deep tech fund called ‘IIT Madras Unicorn Frontier Fund I’. The fund will have Rs. 400 crore ‘greenshoe option’ and target 25+ startups, initially.

IITMRP and UIV will play an equal role in strategic portfolio construction with a significant portion of the companies to be sourced from IITM’s larger ecosystem and balance from the wider Indian deep tech ecosystem.

Prof. V. Kamakoti, Director, IIT Madras, made this landmark announcement during the Inauguration of Entrepreneurship Summit 2026 on the campus today (6th Feb 2026). The Entrepreneurship Cell (E-Cell), IIT Madras is hosting the 11th edition of its flagship annual event, from 6th to 8th February, 2026.

The fund was launched in the presence of Mr. Swapnil Jain, Co-founder at IIT Madras-incubated Ather Energy, who is not only an IIT Madras alumnus but was a member of E-Cell.

E-Summit 2026 is hosting a series of high-impact events, that support start-ups from ideation to scale. It will feature on-the-spot investments from angel funds to Series A funds for participating founders/teams during PitchFest and Elevate.

Startup Expo (7–8 February 2026), the largest start-up showcase in the southern region, will exhibit 80+ start-ups to students, investors and industry leaders. Additionally, E-Cell supported startups that includes 50 ventures that progressed from ideation to Minimum Viable Product (MVP) through E-Cell initiatives like Ideasprint and Bootcamp;

21 school start-ups nurtured by E-Cell through its E-21 initiative will also be showcased. Participating teams (Top five) will get a chance to qualify for Ideabaaz Season 2. The Summit will facilitate incubation offers, accelerate early-stage innovation, market readiness and much more.

Highlighting the need for such funds, Prof. V. Kamakoti, Director, IIT Madras, said, “Science and technology will play a crucial role in India’s growth story and towards India becoming Viksit Bharat in 2047. We will need to focus on technological sovereignty in several areas including AI, semiconductors, defence tech and quantum technology. The need of the hour is to reduce reliance on technology imports and strengthen indigenous capabilities through fostering more deep-tech entrepreneurship and innovation. IIT Madras has been in the forefront of this wave for over a decade, and this Fund is another logical step for us as we try to support and scale our startups with patient capital.”

Speaking about E-Summit, Prof. V. Kamakoti added, “Entrepreneurship today is about translating vision into scalable, socially relevant, and strategic ventures. E-Summit 2026 reflects IIT Madras’ commitment to nurturing this journey—from ideation and MVP development to incubation and market entry. By bringing together students, founders, investors and industry leaders on a single platform, we aim to strengthen India’s innovation ecosystem and empower the next generation of job creators and problem solvers.”

Elaborating on ‘IIT Madras Unicorn Frontier Fund I’, Mr. Natarajan “Nat” Malupillai, CEO of IITM Research Park, said, “India’s deep tech ecosystem is at an inflection point. We have demonstrated that without pouring in billions of dollars, we can build mission-driven, globally competitive and innovation-led startups from here. This initiative has given us the necessary impetus to further accelerate the speed of innovation at IITMRP. We are keen to align with some of the most cutting-edge deep tech startups and Unicorn India as partners will give us a headstart to shape up India’s deep tech future for the world.”

The Highlights of ‘IIT Madras Unicorn Frontier Fund I’ include

O Average first cheque size would be Rs 8-10 crore

O Portfolio construction: Majority of the portfolio will be focused on early-stage deep tech companies that have reached TRL 3 – 4

O 60% of the corpus will be used for building the portfolio and the balance will be reserved for follow-on rounds

O The Fund will represent “patient capital” and is a 10+2-year Fund

STUDENT EXPERIENCE

Speaking about the importance of E-Summit to students, Mr. Kushagra Kapoor, Executive Head, E-Cell IIT Madras, said, “E-Cell IIT Madras plays a central role in enabling startups through their 0-to-1 journey. With numerous year-round initiatives, E-Cell supports budding startups every step of their entrepreneurial journey. E-summit 2026 features four conclaves focusing on 4 distinct TGs - Aspiring founders, Early innovators, Fundraising-ready startups and Ventures seeking visibility or talent from IIT Madras.”

Further, Mr. Vatsal Gosalia, also an Executive Head, E-Cell IIT Madras, said, “As E-Cell enters the next decade of sustained ecosystem building, we are set to hosting the largest ever gathering of startup founders, investors, experts at E-Summit 2026. Over 800+ founders, 50+ investors, and 2,000+ students from 200+ colleges are expected to participate in the 3day event. We would also like to extend our gratitude to our Title Sponsor, WestBridge Capital, and Co-Title Sponsor, DS Group, who have been instrumental in supporting us in our activities.”

Prof. Richa Agrawal, Faculty Advisor, E-Cell IIT Madras, said, “As we complete 11 years of driving entrepreneurship on campus and beyond, we see a maturation of our efforts. This year, we have helped 100+ studentpreneurs (50 startups teams) convert fresh ideas into MVP-ready startups @ IIT Madras. We are currently working with 300+ networked campuses (through our EDD initiative) to create similar momentum to accelerate startup culture across the country. Startup Meetups conducted across eight cities over the last few months are expanding our geographical footprint and strengthening campus connect especially in Tier II and Tier III cities. Most significant this year is our partnership with IDEABAAZ that will give qualifying startups direct entry to IDEABAAZ Season 2. E-Cell and IDEABAAZ together, hope to bring every Indian’s entrepreneurial idea to fruition and contribute to our nation’s progress through entrepreneurship.”

HIGHLIGHTS OF E-SUMMIT 2026

O ⁠PitchFest: A high-stakes pitching platform where India’s top startups present to leading angel investors, with winners gaining direct entry to Ideabaaz Season 2.

O ⁠Elevate: A pan-India fundraising forum connecting scalable startups with mentors and investors to unlock series-round funding and market access.

O BootCamp: A six-week accelerator program that equips early-stage startups with mentorship, workshops, and peer learning to become incubation-ready.

O Startup Expo: The largest startup showcase in South India, featuring 100 startups exhibiting products to students, investors, and industry leaders on 7–8 February.

O ⁠Incubator Summit (I-Summit): An exclusive fast-track platform enabling startups to secure incubation offers directly from top incubators across India.

O Influencer Conclave: A dedicated platform bringing together content creators, solopreneurs, and freelancers through masterclasses, workshops, and networking.

O Content Creation Masterclass: Expert talks by top creators on building influence, personal brands, and scalable content careers.

O ⁠Education-21: An 8-week entrepreneurship program introducing school students to ideation, innovation, and product building.

O ⁠Entrepreneurship Development Drive: A Nationwide initiative empowering student entrepreneurs across 200+ colleges, especially in tier-2 & tier-3 institutions.

O Startup Essential Workshops: Expert-led sessions on startup finance, marketing, and growth strategies delivered by founders, CEOs, and investors.

O ⁠Student Workshops: Foundational business workshops equipping students with practical skills in finance, analytics, and digital marketing.

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ABOUT IIT MADRAS RESEARCH PARK

IIT Madras Research Park (IITMRP) is India’s first university-based research park, created to bridge the gap between academia and industry and accelerate deep-tech innovation. Spread over more than 11 acres with over 1.2 million square feet of workspace, the park hosts research-driven companies, global corporations, and incubated startups working across multiple sectors and technologies. It fosters collaboration by providing advanced infrastructure, laboratories, and direct access to world-class faculty and research scholars from IIT Madras.