The Indian Institute of Technology Madras (IIT Madras) and IITM Global concluded the opening day of Bharat Innovates 2026 in Nice, France, with the exchange of seven commercial Memoranda of Understanding (MOUs) between Indian deep-tech startups and their international partners, alongside two institutional agreements aimed at accelerating global market access, investments and innovation.
The agreements, primarily involving French and European partners, are expected to unlock value creation of nearly $100 million, reinforcing India’s growing stature as a global deep-tech innovation hub.
Commercial partnerships take centre stage
The startup collaborations announced during the event included partnerships between Agnikul Cosmos and ICEYE of Finland as well as Safran of France, Detect Technologies and TotalEnergies, TuTr Hyperloop and thyssenkrupp, and iElectron Technologies with ALTEN.
In addition, the Indian Angel Network announced a potential investment in TheePlane Company, further strengthening the startup ecosystem emerging from India.
IIT Madras Director Prof. V. Kamakoti said, “Bharat Innovates 2026 has proven to be a watershed moment for Indian deep tech. The MOUs exchanged are not just ceremonial – they are commercial, actionable and backed by serious financial commitments.”
He added that India’s leading higher education institutions have demonstrated that home-grown innovation is ready to compete and lead on the global stage.
Deep-tech incubation drives value creation
IIT Madras Dean (Industrial Consultancy and Sponsored Research), Prof. Manu Santhanam said the partnerships showcased the conversion of scientific excellence into tangible economic value.
“What we witnessed in Nice was the translation of scientific excellence into cross-border economic value. The nearly $100 million in expected value creation is a direct result of years of focused deep-tech incubation at IIT Madras,” he said.
Santhanam noted that partnerships with leading French and European companies validate the institute’s deep-tech innovation and incubation model.
Institutional agreements boost global ambitions
The event also witnessed the exchange of two institutional MOUs designed to strengthen the international expansion of Indian startups.
One agreement was signed between IITM Global and Agna Capital to establish the Bharat Innovates Fund, which aims to catalyse investments in high-potential deep-tech ventures.
The second partnership between IITM Global and SouthwestX seeks to help Indian startups access and scale across the German and French markets.
The institutional agreements were exchanged in the presence of Union Minister for Commerce and Industry Piyush Goyal and Principal Scientific Adviser to the Government of India Ajay Sood, highlighting strong government backing for globally connected innovation ecosystems.
Showcases next-generation technologies
Alongside the partnership announcements, IIT Madras showcased a range of technologies emerging from its research and startup ecosystem.
These included innovations in Hyperloop transportation, 5G and 6G communications, port automation, lab-grown diamond technologies and indigenous artificial intelligence systems designed for efficient computing.
IITM Global CEO and Director, Thirumalai Madhavnarayan said, “The overwhelming response from stakeholders across Europe reaffirmed the growing global recognition of the IIT Madras innovation ecosystem as a trusted partner for building the next generation of globally scalable deep-tech enterprises.”
Growing interest from Europe
Beyond the formal agreements, Bharat Innovates 2026 attracted significant interest from industry leaders, investors, academic institutions and government representatives from across the European Union.
The engagement is expected to open new opportunities for future collaboration between IIT Madras, IITM Global and global stakeholders across research, innovation, entrepreneurship, talent development and market expansion.