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Chennai, June 2026: Indian Institute of Technology Madras and IITM Global closed the first day of the Bharat Innovates 2026 after signing seven commercial Memoranda of Understanding (MOU) and two strategic institutional agreements. These agreements are expected to generate close to US$ 100 million of value and are indicative of the strengthening position of India in the international collaborative deep-tech space and provide a platform for accelerated innovation, investments, and deeper engagement in international markets.
The agreements also offer Indian deep-tech entrepreneurs and international partners of the deep-tech industry great opportunities to collaborate in the commercialization of technologies and safe international markets. The Bharat Innovates 2026 International deep tech collaborative agreements signed during this event are a major landmark for India’s deep-tech ecosystem, according to Prof. V. Kamakoti, Director, IIT Madras.
The Indian higher education system and institutes are demonstrating that Indian innovation will help support and lead to the progress of the world.
Some agreements signed by start-ups are:
- Agnikul Cosmos with ICEYE Finland and Safran France
- Detect Technologies with TotalEnergies
- TuTr Hyperloop with thyssenkrupp
- iElectron Technologies with ALTEN.
- Indian Angel Network plans to enter into agreements to invest in The ePlane Company.
Prof. Manu Santhanam, Dean (Industrial Consultancy and Sponsored Research), IIT Madras, discussing the agreements' effect on the economy, remarked that innovation support and early stage tech incubation will create globally relevant tech. "What we saw in Nice was remarkable. This will generate almost $100 million because of the deep-tech incubation activities at IIT Madras over the last few years. The industry partnership from France and Europe confirms our work," he said.
Beyond the startup partnerships, two institutional MOUs were signed to further enhance the prospects of Indian startups on the global stage. The first created a strategic partnership between IITM Global and Agna Capital to establish the Bharat Innovates Fund, which is dedicated to the support and funding of early-stage deep-tech startups. The second created a partnership between IITM Global and SouthwestX to facilitate the access and scaling of Indian startups in the German and French markets.
The institutional MOUs were signed in the presence of Piyush Goyal and Ajay Sood, demonstrating a commitment from the government to support innovation ecosystems that are globally connected.IIT Madras showcased hyperloop transportation, 5G and 6G communications, automated port systems, lab-grown diamonds, and AI computing innovations. Mr. Thirumalai Madhavnarayan, CEO and Director of IITM Global, said European stakeholders rediscovered confidence in IIT Madras' innovation ecosystem.
The positive reaction from stakeholders across Europe illustrates the increasing worldwide acknowledgment of the IIT Madras innovation ecosystem as a reliable collaborator for the creation of the forthcoming generation of worldwide scalable deep-tech startups, he said.Apart from the official contracts, Bharat Innovates 2026 captivated a wide range of participants from the entire European Union, including venture capitalists, members of the industry, academia, government, and more, thus opening even more prospects for future collaboration in research and entrepreneurship, in the formation of talent, innovation, and global market access.
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