IIT-M Research Park Partners with UIV to Launch Rs 600 Crore Deep Tech Fund
Chennai, India – The IIT-Madras Research Park (IITMRP) has announced a significant collaboration with Unicorn India Ventures (UIV) to establish a deep tech fund named the ‘IIT-Madras Unicorn Frontier Fund I’. This fund aims to raise a total of Rs 600 crore, with an additional Rs 400 crore available through a greenshoe option. The initiative is designed to support over 25 startups in the deep tech sector.
Announcement at the Entrepreneurship Summit 2026
The announcement was made by Prof. V. Kamakoti, the Director of IIT-M, during the inauguration of the Entrepreneurship Summit 2026, which is taking place on the IIT-Madras campus from February 6 to 8. This summit marks the 11th edition of the flagship annual event organized by the Entrepreneurship Cell (E-Cell) at IIT-M.
Objectives of the Deep Tech Fund
The IIT-Madras Unicorn Frontier Fund I is set to provide patient capital to startups, enabling them to scale their operations and innovate in various technology sectors. Prof. Kamakoti emphasized the importance of science and technology in India’s developmental narrative, particularly in achieving the vision of ‘Viksit Bharat’ by 2047.
Focus Areas for Investment
The fund will prioritize investments in several critical areas, including:
- Artificial Intelligence (AI)
- Semiconductors
- Defence Technology
- Quantum Technology
Prof. Kamakoti stated, “We need to focus on technological sovereignty in these areas to reduce reliance on imports and enhance indigenous capabilities.” This sentiment underlines the necessity for fostering deep-tech entrepreneurship and innovation within the country.
Highlights of the Entrepreneurship Summit 2026
The Entrepreneurship Summit 2026 is a comprehensive event aimed at supporting startups from the ideation phase to scaling their businesses. Key features of the summit include:
- PitchFest: A platform for on-the-spot investments from angel funds to Series A funds for participating founders and teams.
- Startup Expo: An exhibition showcasing over 80 startups to students, investors, and industry leaders.
- Support for E-Cell Startups: The summit will highlight 50 ventures that have progressed from ideation to Minimum Viable Product (MVP) through initiatives like Ideasprint and Bootcamp.
- E-21 Initiative: 21 school startups nurtured by E-Cell will also be showcased during the event.
- Incubation Opportunities: Participating teams have the chance to qualify for Ideabaaz Season 2, with incubation offers available to accelerate early-stage innovation and market readiness.
Significance of the Fund for Startups
The establishment of the IIT-Madras Unicorn Frontier Fund I is a pivotal step in supporting the startup ecosystem in India. By providing patient capital, the fund aims to alleviate some of the financial pressures faced by startups, allowing them to focus on innovation and growth without the immediate burden of profitability.
Long-term Vision for India’s Tech Landscape
Prof. Kamakoti’s remarks during the summit highlight a broader vision for India’s technological landscape. He noted that fostering deep-tech entrepreneurship is essential for the country’s growth and self-reliance in technology. The IIT-Madras Unicorn Frontier Fund I is expected to play a crucial role in this journey, supporting startups that are poised to make significant contributions to India’s tech ecosystem.
Conclusion
The partnership between IIT-M Research Park and Unicorn India Ventures to launch the Rs 600 crore deep tech fund represents a significant milestone in India’s startup landscape. With a focus on critical technology sectors and a commitment to supporting innovation, this initiative is poised to empower the next generation of entrepreneurs and drive technological advancements in the country.
Note: The information in this article is based on the latest reports and announcements as of February 2026.
