IIT Roorkee, IvyCap launch Rs 1,000 crore fund for research, startups

Indian Institute of Technology (IIT), Roorkee, in collaboration with IvyCap Ventures and NuQuant, has announced Rs 1,000 crore Super Endowment Fund to strengthen India's research, innovation and DeepTech ecosystem. The 'Bharat Innovates 2026', an initiative of the Government of India implemented by the Ministry of Education, was launched during an event held in Nice, France.

An official statement said that the proposed fund has been designed as an everlasting and self-sustaining source of capital to support research excellence, entrepreneurship, innovation, and technology translation across the IIT network. The initiative aims to provide long-term support to DeepTech startups and emerging technologies in India.

As part of the programme, India has invited leading global universities, research organisations, innovators, investors, philanthropists and industry leaders to collaborate in strategic sectors such as climate technologies, energy systems, semiconductors, advanced manufacturing, critical minerals and healthcare. This initiative aims to create a globally connected innovation platform capable of accelerating the commercialisation of research findings and fostering international partnerships.

Building on IIT Roorkee's 175-year legacy, the institute said the fund will mobilise contributions from alumni, corporations, philanthropic organisations and institutional investors to advance India's knowledge economy. The initiative is expected to support research and innovation in areas including artificial intelligence, quantum computing, semiconductors, clean energy, climate resilience, healthcare, advanced manufacturing, circular economy and agritech.

Also read IIT Bombay, Simplilearn launch 2-year online PG Diploma in digital governance for working professionals

Fund to support startups, IP creation

The endowment model also aims to strengthen collaboration among academia, industry, investors and alumni networks to support startup creation, intellectual property (IP) generation and societal impact.

Speaking on the initiative, Vikram Gupta, founder and managing partner of IvyCap Ventures, said the Super Endowment builds on the firm's earlier efforts in creating institution-linked endowment models.

“The Super Endowment is the most exciting chapter yet in a journey we began with India’s first endowment fund at IIT Delhi. What drives me is a simple conviction — that the wealth created by our institutions’ alumni must flow back to power the next generation of researchers and entrepreneurs. This fund makes that cycle of giving perpetual, and I believe it will redefine how India funds innovation,” Gupta said.

K K Pant, Director of IIT Roorkee, said the fund would help convert research ideas into entrepreneurship opportunities and intellectual property.

“This is more than a fund – it is a compounding engine for Indian innovation. Every rupee will work in perpetuity to turn ideas born on this campus into entrepreneurs and IP that the world builds upon. By bringing together the collective strength of alumni, industry, philanthropic organisations and global partners, we aim to create enduring impact and empower future generations of researchers, innovators and entrepreneurs,” Pant said.

Commenting on the partnership, Kislay Kanth, founder of NuQuant, said India has the potential to become a global leader in DeepTech innovation.

Also read IIT Delhi CEP opens admissions for batch 3 of healthcare industry 5.0 programme; eligibility

“Through this collaboration, we aim to strengthen the connection between research, entrepreneurship and global capital, enabling breakthrough technologies to scale and create meaningful impact. The Super Endowment Fund represents a powerful model for fostering long-term innovation and international collaboration,” Kanth said.

The endowment will be managed by IvyCap Ventures, which describes itself as a pioneer of institution-linked investment and endowment models in India. The venture capital firm had earlier established what it called India's first university endowment fund at IIT Delhi in 2019.

IIT Roorkee and IvyCap Ventures have invited alumni, corporate leaders, philanthropists, institutional investors, global universities and strategic partners to participate in the initiative and contribute towards building a sustainable innovation ecosystem in India.