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BENGALURU, 4th October 2024: NSRCEL, the startup incubator at IIM Bangalore, and the Centre for Research on Start-ups and Risk Financing (CREST) IIT Madras, announced the release of their joint research report, ‘India Incubator Kaleidoscope 2024’. The joint effort was led by Prof. Thillai Rajan A., Head, CREST and Professor of Finance, Department of Management Studies, IIT Madras and Prof. Srivardhini K Jha, Professor of Entrepreneurship, IIM Bangalore and Chairperson of NSRCEL. It offers valuable insights and recommendations to policymakers and business leaders on how to create and nurture thriving startup incubators, which are essential for job creation and economic growth. Speaking about this study, Prof. Srivardhini Jha said, “Incubators play a crucial role in making entrepreneurship more accessible and inclusive across the country but their activities and impact are not well understood. This report addresses that gap and highlights the need to both raise the level of incubation activity and enhance the quality of incubation efforts nationwide.” The Highlights of this research include: Incubator landscape The number of incubators in the Indian ecosystem has grown steadily, with more than 1,100 active incubators dotting the Indian startup ecosystem. The Southern region leads the pack, housing 45% of all incubators and having the highest density of incubators. Tier I cities house almost half of all incubators (48 percent). However, the mix of incubators, viz., those hosted by academic institutions, industry and public sector, shows significant variation across cities. Chennai has a high proportion of academic incubators (82 percent), whereas Bengaluru and Gurugram have a high proportion of industry incubators at 71 percent and 84 percent respectively. The incubator density is 0.8 incubators per million population, whereas countries like US, UK and China range between 8 and 10 incubators per million population. This indicates the need for setting up more incubators in the country  Incubator coverage Only 8.2 percent of all startups undergo incubation. Further, 10 percent of the incubators support 98 percent of these startups that are incubated. Taken together, this highlights an urgent need to improve the performance of incubators that are underutilized and to actively engage in outreach efforts to raise awareness about the benefits of incubation. The correlation coefficient between the presence of incubators and startups was found be 0.84, which indicates a strong positive correlation. A higher presence of startups is associated with a higher presence of incubators. Incubation is sought after by students, young professionals, women founders and those with modest financial resources. This is a positive trend that indicates that the support system is working for those who need it. The rate of incubation is high among deep tech sectors such as AI/ML, Data Analytics, Biotech and other sectors. All of them have an incubation rate upward of 12 percent.  Incubator outcomes Incubated startups have been able to secure their first round of funding earlier than the non-incubated. While 27.1 percent of the incubated startups that received their first-round funding within one year of incorporation, the corresponding percentage for the non-incubated was 15.4 percent Despite being smaller in number, incubated startups have won more awards in all the leading startup awards. Incubated startups have also been engaged more actively in creation of intellectual property – the percentage of incubated startups that have published patents is about 5 times more that of the non-incubated For the startups that ceased to operate, the average age at which operations ceased was about 15 percent higher for incubated startups, indicating that incubators could provide a nurturing ecosystem that provides more time for the ideas to flourish The contribution of the incubated startups to the economy has also been significant. The annual average revenues in the initial years for every 100 incubated startups has been about ₹1590 crores. The average value of assets for every 100 incubated startups by the 9th year from incorporation has been estimated at ₹10627 crore. However, the revenue performance of startups associated with industry incubators is 50 percent higher as compared to those supported by academic incubators   Elaborating further, Prof. Thillai Rajan A., IIT Madras, said, “The narrative on the Indian startup ecosystem has centered around start-ups and investors. This report turns the spotlight on incubators, a significant link in the startup value creation chain. ‘Tell me who your friends are, and I will tell you who you are’ is a well-known proverb. In much the same way, our research finds that incubators enhance the credibility of the startups that they support. This manifests more compellingly in startup funding. Incubated startups are two and a half times more likely to get funded as compared to the non-incubated.” Launching the publication, Shri Amitabh Kant, G20 Sherpa, Government of India and ex-CEO, NITI Aayog said, “In the growth of Indian startup ecosystem, incubators play a very crucial role, and their contribution has been expanding in recent years. Conceptualized initially to facilitate the formation of start-ups, today incubators perform multiple roles such as bringing together scientific and business expertise, channelizing capital to promising start-ups, and increase awareness on startups in the society. For the government, incubators are becoming the last link in identifying startup beneficiaries for various schemes and monitoring their progress. I am happy to note that two of the best institutions in the country have joined hands in bringing this timely as well as relevant publication on incubators. Their findings vindicate the policy emphasis on incubators, while giving suggestions on how the incubation landscape can be further enriched through various interventions.” Prof. Rishikesha T. Krishnan, Director, IIM Bangalore, said, “The value of innovation cannot be overstated. Incubators play an important role in supporting the unique needs of diverse creators not only by accelerating grassroots development but also by leveling the playing field.” Among the various significant findings of this collaborative research undertaking is one—that cities of Chennai and Bangalore lead the startup ecosystem with their high concentration of industry and academic incubators. As IIMB stands at the heart of India’s knowledge capital, we look forward to continuing our sustained contribution to the city’s deep

GUWAHATI, 8th October 2024: Indian Institute of Technology Guwahati recently concluded a three-day International Conference, “Unraveling Indian Knowledge Across Asia (UNIKAA) 2024,” bringing together experts to explore the connections between ancient Indian wisdom and modern challenges. The inauguration ceremony was graced by the Hon’ble Governor of Assam, His Excellency Shri Lakshman Prasad Acharya, as the chief guest, along with distinguished guests including Shri Phurpa Tshering, Vice Consul of the Royal Bhutanese Consulate General in Guwahati, and Prof. Brahma Deo from IIT Bhubaneswar. The event was opened with speeches from Prof. Devendra Jalihal, Director, IIT Guwahati, Prof. Uday Shanker Dixit, Chair of the conference, and Prof. Lalit M. Pandey, Organizing Secretary, who outlined the conference’s vision and its focus on the significance of local languages and interconnected knowledge systems. The program began with a welcome address by Prof. Dixit, followed by an outline of the conference’s vision by Prof. Pandey. During his address, Prof. Jalihal highlighted the interconnectedness of the Indian knowledge system and the importance of local languages. The guest of honor, Prof. Deo, emphasized the significance of ancient Indian knowledge, especially in fields like metallurgy, and its relevance today. Shri Phurpa Tshering praised India’s contributions to global knowledge, noting the importance of traditions like yoga, Ayurveda, and astronomy. He also highlighted the deep spiritual connection between Bhutan and India, remarking that for every Bhutanese, visiting Bodh Gaya is a cherished pilgrimage. Representing the Ambassador of Indonesia, Dr. Aldrin Herwany, Education and Cultural Attaché, shared insights into the shared knowledge systems of Asia. In his keynote address, Governor Lakshman Prasad Acharya emphasized the need to integrate India’s ancient knowledge systems with modern science and technology, particularly as India and Asia move toward a new era of development. He praised IIT Guwahati as a hub of research and innovation and commended the conference for fostering collaboration between scholars from diverse fields. The Governor underscored the global influence of texts such as the Vedas, Upanishads, Ramayana, and Mahabharata, emphasizing their timeless teachings on morality, duty, and truth. Quoting the philosophy of “Vasudhaiva Kutumbakam” (“The World is One Family”) often emphasized by Prime Minister Shri Narendra Modi, he referenced India’s adherence to the peaceful principles of Buddhism over paths of conflict. Concluding his address, the Governor spoke passionately about environmental conservation and character building, quoting, “निर्माणोम् के पावन युग में हम चरित्र निर्माण न भूलेम्! स्वार्थ साधना की अमाधि में वसुधा का कल्याण न भूलेम्!!” His remarks highlighted the importance of bridging ancient wisdom with modern science for societal progress. The conference featured over 130 oral presentations and 30 invited lectures, with participants from countries such as Bangladesh, Bhutan, Indonesia, Malaysia, and the USA. The sessions covered diverse themes, from Ayurveda and yoga to mathematics, astronomy, and artificial intelligence. Discussions focused on how modern technology can help preserve and explore ancient knowledge systems. The interdisciplinary nature of the conference was evident, particularly in discussions on how modern technology, such as data science and artificial intelligence, can be used to preserve and explore ancient knowledge. Sessions also delved into the philosophical traditions of ancient scriptures like the Ramayana and Mahabharata, emphasizing their continued relevance today. A panel discussion on “The Importance of Indian Knowledge Systems in the Contemporary World” was one of the conference’s key highlights, fostering in-depth discussions and potential future collaborations. The valedictory session featured the Hon’ble Speaker of the Assam Legislative Assembly, Shri Biswajit Daimary, as the chief guest, along with Prof. Sukumar Mishra, Director of IIT (ISM) Dhanbad, and Prof. Varadraj Bapat from IIT Bombay, as guests of honor. Prof. Mishra highlighted the importance of ideas in driving innovation, inspired by ancient teachings. Prof. Bapat stressed the primacy of knowledge acquisition over language and shared insights on India’s historical contributions to the global economy. In his concluding remarks, Shri Daimary welcomed delegates to Assam and urged them to explore the region’s rich cultural and historical heritage. He emphasized that education should instill cultural values and ethics alongside academic achievements. He also encouraged the organization of more such conferences in the northeastern states to celebrate India’s rich cultural diversity and promote the vision of Akhanda Bharat.  

CHENNAI, 8th October 2024: Indian Institute of Technology Madras (IIT Madras) has launched a new cybersecurity centre to boost fundamental and applied research that drives innovations in the country. It will work towards pioneering advancements in blockchain, security for AI models, cryptography, quantum security, and IoT security. The ‘Centre for Cybersecurity, Trust and Reliability’ (CyStar) was inaugurated today (8th Oct 2024) in the presence of Prof. V. Kamakoti, Director, IIT Madras, Centre Coordinators Prof. Shweta Agrawal, Prof. Chester Rebeiro and Prof. John Augustine, faculty, Department of Computer Science and Engineering, IIT Madras and a host of eminent academicians and industry representatives from India and abroad. The mission of CyStar is to push the boundaries of cybersecurity through innovative research and education. Recognizing that cybersecurity demands a multi-disciplinary approach, the research team at CyStar is diverse, encompassing a wide range of expertise. Addressing the launch event, Prof. V. Kamakoti, Director, IIT Madras, said, “With the growth of cyber threats, not just for financial gains but also targeted sector wise attacks on critical infrastructure, it is very important that we arrive at proactive cyber defence mechanisms to protect our Nation. In this context, such efforts are extremely crucial.” The Centre will collaborate globally and locally with academia, industry and research institutions, equipping students, professionals and researchers with the expertise needed to tackle today’s and tomorrow’s complex security challenges, thereby contributing to a safer digital world. Its’ focus would extend across sectors, addressing critical security challenges in industries like finance, healthcare, automotive and electronics. The key Research, Industry and Government partners of CyStar include the Ministry of Electronics and Information Technology and the Ministry of Education, Vitesco Technologies, Kaspersky, IDBI Bank, LG India, Saptang Labs, Algorand, Indo-French Centre for the Promotion of Advanced Research and National Security Coordination Secretariat among others. Elaborating on the key functions of this Centre, its coordinator Prof. Shweta Agrawal said, “We are happy and excited to launch this center, which will bring together people with varied expertise to study the complex problem of cybersecurity. Our approach is multi-faceted. We aim to make contributions in domains ranging from fundamental research to real-world applications to fostering start-ups and everything in between.” CyStar Coordinator Prof. John Augustine said, “India is a federal country with a vast number of highly distributed social and business networks with diverse security needs. CyStar’s vision is to empower individuals in this ecosystem to secure their lives and businesses through platforms that are designed with security, trust, and reliability in mind.” CyStar Coordinator Prof. Chester Rebeiro said, “CyStar aims to address critical cyber security challenges in the country through fundamental and applied research, outreach programs, and by fostering industry-academia relationships.” Keynote speakers on the occasion included Prof. Shafi Goldwasser, Research Director, Simons Institute and Professor, Massachusetts Institute of Technology (MIT), Prof. Debdeep Mukhopadyay, Chair Professor, Department of Computer Science and Engineering, IIT Kharagpur, Prof. Christian Scheideler, Head Professor, Theory of Distributed Systems, Paderborn University and Dr. Damien Stehlé, Chief Scientist, Cryptolab Inc. CyStar at IIT Madras will develop a comprehensive, multi-faceted strategy to address the emerging cybersecurity challenges driven by AI and the post-quantum era. This approach will focus on safeguarding critical national infrastructure, offering a holistic defence against these advanced technological threats. CyStar aspires to build a knowledge and innovation ecosystem where industry leaders, scholars and government institutions can collaborate with state-of-art technology to integrate and apply advancements in knowledge to real-time products or services in Cybersecurity.