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IIT Madras launches research foundation to boost global presence

IIT Madras launches research foundation to boost global presence

  • 10th Apr 2024
  • The Times of India

Indian Institute of Technology Madras (IIT Madras) is all set to launch the IIT Madras Research Foundation, aiming to boost its global presence. The foundation will serve as a platform for startups emerging from the institute's advanced tech ecosystem to tap into global markets, funding opportunities, and research support. Leading this initiative as the first CEO of IITM Research Foundation is Mr Thirumalai Madhavnarayan, a seasoned professional in business management and technology.

The primary goal of the 'IIT Madras Research Foundation' is to expand the institute's reach on the global stage, foster innovation and entrepreneurship, and enhance collaborations with industry and research partners. Prof V Kamakoti, Director of IIT Madras, highlighted the strategic importance of IITMRF in aligning with India's vision of becoming a global leader in startups.

Key areas of focus for the foundation include patents and technologies for commercialization, support for startups founded by IITM faculty, students, and researchers, exploring market-driven ideas like sustainable growth, and providing global exposure and resources to startups from IIT Madras.

Prof Mahesh Panchagnula, Dean of Alumni and Corporate Relations at IIT Madras, emphasized the transformative potential of IITMRF, not only for the institute but for the nation as a whole. Mr Madhav Narayan, the appointed CEO, brings over 37 years of experience in steering businesses across diverse global markets and has a strong track record in building strategic partnerships.

Prof Raghunathan Rengaswamy, Dean of Global Engagement at IIT Madras, hailed this initiative as a significant step towards the institute's internationalization efforts. With a robust portfolio of research and innovation, IIT Madras boasts 161 active patents in the US and a substantial alumni network making waves in the industry.

Mr Madhav Narayan outlined the foundation's goals to create a dynamic platform for global expansion of IIT Madras assets, driving innovation, industry collaborations, and research partnerships. His past engagements with leading organizations in Dubai and accolades in the technology sector underscore his expertise and strategic acumen.
In his previous roles, Mr. Narayan has been instrumental in shaping digital strategies for government entities and establishing key partnerships with top technology vendors and academia. His accolades include prestigious awards from companies like Samsung and Dell, highlighting his exceptional leadership skills and industry

This latest venture by IIT Madras builds on Mr Narayan's rich experience and underscores the institute's commitment to fostering innovation and entrepreneurship on a global scale. The IIT Madras Research Foundation is poised to be a game-changer in driving forward the institute's vision of creating impactful startups and strengthening its position in the global arena.