PALS Inks MoU to Support Early-Stage Startups
Published: November 29, 2025
Location: Chennai
Introduction
The PALS initiative, led by alumni of the Indian Institute of Technology (IIT), has recently signed a Memorandum of Understanding (MoU) with two prominent organizations: Immersive Technology & Entrepreneurship Labs (ITEL) at IIT Madras and AIC Anna Incubator. This collaboration aims to provide mentorship and support to early-stage startups that emerge from institutions partnered with PALS.
EDC 360° Conclave
PALS also hosted the EDC 360° conclave focused on entrepreneurial development at IIT Madras. This event brought together heads and senior leaders from 40 engineering institutions, emphasizing the need to build robust entrepreneurship and innovation ecosystems within engineering colleges. The conclave aimed to equip institutions with the tools necessary to nurture future-ready engineers.
Key Insights from the Conclave
During the conclave, Ashok Jhunjhunwala, chairman of ITEL and former president of IIT Madras Research Park, addressed the participants. He emphasized the importance of focusing on local problems such as:
- Waterlogging
- Urban transport
- Cybersecurity
Jhunjhunwala noted that while not all students would become founders, approximately 15% could sustain the entrepreneurial journey with the right support and nurturing.
The Evolution of PALS
R. Krishnamurti Rao, PALS Champion and Head of the PALS Innovation Tower, shared insights into the evolution of PALS over the past 13 years. He stated, “What began as a small alumni initiative has now grown into a robust bridge connecting IITs, industry, and private engineering institutions across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala, and even Nepal.”
Vision for Entrepreneurship
Mohan Narayanan, a Governing Board Member of PALS, articulated the vision of the entrepreneurship forum. He stated that the goal is to help create at least one successful startup from every institution that partners with PALS. The EDC conclave served as a platform to discuss common issues, challenges, and opportunities faced by these institutions, allowing PALS to fine-tune its offerings to better support aspiring entrepreneurs.
Industry Collaboration
Shankar Venugopal, Vice President of Technology & Innovation at Mahindra & Mahindra, spoke at the conclave about how real-world industry challenges can act as catalysts for Innovation Labs within engineering colleges. He highlighted the significance of academia-industry collaboration in fostering quicker problem-solving and enhancing student competencies.
Conclusion
The partnership between PALS, ITEL, and AIC Anna Incubator marks a significant step towards fostering innovation and entrepreneurship in India. By focusing on local challenges and leveraging industry collaboration, this initiative aims to empower the next generation of entrepreneurs and create a sustainable startup ecosystem.
Note: The information presented in this article is based on a report published by The Hindu on November 29, 2025.
