IIT Madras, IndusDC to commercialise patents, intellectual properties of researchers

NEW DELHI: The Indian Institute of Technology (IIT Madras) has partnered with IndusDC to nurture and launch start-ups working towards decarbonisation.

This partnership aims at providing a platform where patents and intellectual properties (IPs) can be used to develop new technology. The institute aims to propel the country to the global forefront of decarbonisation technology leadership by enabling a wave of hardware innovation, IIT Madras said.

IndusDC will onboard and match 'entrepreneurs in residence’ (EIR) to the lab-stage ideas and mature it to achieve a market-fit product.

It added that the first phase of commercialisation of IPs is currently underway with IndusDC, which was founded by IIT Madras alumni Kushant Uppal. IndusDC has collaborated with The Energy Consortium, a Centre of Excellence set up at IIT Madras under the institute of eminence initiative.

Three IPs – next generation cooling, carbon neutral consumer wear and advanced grid scale storage – have already been on-boarded. The work to commercialise three IPs is under evaluation. The partnership aims at replicating this model across institutes in the country in order to take it to a global level.

Kushant Uppal, founder of IndusDC, said, “This is a pivotal IP, technology development and start-up incubation agreement with IIT Madras. We are also actively forging partnerships with other esteemed universities in both India and the US.”

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IndusDC is setting up its first fund of US Dollar 6 million to invest in five cutting-edge decarbonisation startups with prime focus on energy efficiency. This dedicated fund will invest in 15 promising ideas and incubate 5 startups, driving them to the coveted product market fit stage, he added.

Mahesh Panchagnula, dean (alumni and corporate relations), IIT Madras, said, “Decarbonisation is the greatest need of this hour. This initiative is very timely and will bring together our alumni to serve a greater global cause in a sustainable fashion. Our vision is to see venture studios like this take root in many other spheres of global importance while working with several of our global partner institutions.”