IIT Madras, CAStartups Sign MoU to Take Indian Innovation Global
In a landmark move aimed at taking Indian innovation to the world, the Indian Institute of Technology Madras (IIT Madras) has signed a strategic Memorandum of Understanding (MoU) with CAStartups, a Silicon Valley-based platform connecting chartered accountants, startup founders, investors, and global enterprises. This collaboration marks a significant step in the global outreach of Indian startups and innovation.
Background of the MoU
The MoU was signed under the aegis of the newly launched IIT Madras Global Research Foundation, also known as IITM Global, which was formally unveiled on January 2, 2026, in the presence of Indian External Affairs Minister Dr. S. Jaishankar. The collaboration with CAStartups followed months of engagement between the two organizations, beginning with a visit by a CAStartups delegation to the IIT Madras Research Park on October 4, 2025.
Key Figures Involved
The delegation included:
- Vish Arunachalam, founder chairman of the San Francisco Chapter of the Institute of Chartered Accountants of India and the driving force behind CAStartups
- Vineet Malhotra, co-founder of CAStartups and former managing director at BlackRock
- Narayanan Balakrishnan, senior partner at Ernst and Young
- Hitesh Sachdev, head of Startup Engagement at ICICI Bank
Significance of the Collaboration
Vish Arunachalam emphasized the importance of the October visit, describing it as a pivotal moment. “We saw not just startups, but a deep reservoir of intellectual property and research-led innovation ready for global markets. This MoU announces the arrival of IIT Madras startups on the global stage,” he stated.
During the visit, the CAStartups delegation was presented with demonstrations from five startups, which showcased the potential of IIT Madras’s innovation ecosystem. Arunachalam explained that the discussions led to the formation of a strategic partnership aimed at taking IIT Madras’s innovations to global markets.
Goals of the MoU
The MoU outlines several key goals for IIT Madras:
- Positioning IIT Madras as a leader in deep technology and artificial intelligence innovation.
- Offering incubation for startups and taking its intellectual property to various companies worldwide.
- Providing courses on AI, deep tech, and space tech in academic institutes and corporates in the U.S.
- Collaborating with corporates to undertake research projects in India.
Role of CAStartups
CAStartups has been selected to play a crucial role in supporting IIT Madras’s expansion into the U.S. market. Arunachalam noted, “IIT Madras wants to bring the best of both worlds, Silicon Valley professionals and leaders on one side and IIT Madras on the other side.” The collaboration aims to connect IIT Madras startups with potential customers, venture capitalists, and talent.
Under the agreement, CAStartups will work exclusively with IIT Madras to ensure a depth of engagement. “This is about the best of both worlds, India’s strongest innovation ecosystem and Silicon Valley’s most trusted professional network,” Arunachalam added.
Identified Startups
Ten high-potential startups from the IIT Madras ecosystem have already been identified for entry into the U.S. market. Arunachalam emphasized, “These are not experimental ideas; these are high-pedigree startups built on serious research.”
Early outcomes of the partnership are already visible, with one startup founder successfully acquiring their first customer in the U.S. and planning to return for further fundraising.
Future Prospects
The MoU is valid for five years and may be extended by mutual consent. Arunachalam highlighted that this partnership opens significant opportunities not just for startups but also for chartered accountants and professionals worldwide who can now play a role in scaling IIT Madras innovations globally.
Sujit Kankanwadi, a board member and audit committee chair at Stardust Power Inc., noted the importance of the initiative, stating, “The signing of MOUs with partners in six countries, including CAStartups in the Bay Area, marks a pivotal step in our journey.”
Impact on Professional Education
The collaboration also extends into professional education. Kankanwadi mentioned the opportunity to co-create targeted training materials leveraging IIT Madras’s expertise in AI. This initiative aims to develop practical resources for accountants, CAs, and CPAs, demonstrating how AI and emerging tools can transform traditional processes.
Jaya Vaidhyanathan, CEO of BCT Digital and a member of the Global Board at PwC, remarked that IIT Madras’s global push reflects a broader ambition, highlighting the strong momentum in deep-tech research and the vibrant startup ecosystem.
Conclusion
The partnership between IIT Madras and CAStartups represents a significant step forward in promoting Indian innovation on a global scale. By combining the strengths of India’s leading innovation ecosystem with the resources and networks of Silicon Valley, this collaboration is poised to create exciting opportunities for startups and professionals alike.
Note: This article is based on information available as of October 2023 and may be subject to updates as the partnership progresses.
