Chennai: IIT Madras and IITM Global announced the exchange of seven commercial Memoranda of Understanding (MoUs) between Indian deep-tech startups and international partners, primarily from France, and two institutional agreements expected to unlock nearly US$100 million in value creation.

The agreements were exchanged during the first day of Bharat Innovates 2026 in Nice, France, and are aimed at accelerating global market access, investments and cross-border innovation.

The startup partnerships include collaborations between Agnikul Cosmos and ICEYE and Safran, Detect Technologies and TotalEnergies, TuTr Hyperloop and thyssenkrupp, and iElectron Technologies and ALTEN. The Indian Angel Network also announced a potential investment in The ePlane Company.

Speaking on the occasion, IIT Madras Director Prof. V. Kamakoti described the event as a “watershed moment” for Indian deep-tech innovation, saying the agreements were commercial and backed by serious financial commitments.

Prof. Manu Santhanam, Dean (Industrial Consultancy and Sponsored Research), IIT Madras, said the expected value creation reflected years of focused deep-tech incubation and validated the institute's innovation approach.

The two institutional agreements include a strategic partnership between IITM Global and Agna Capital to establish the Bharat Innovates Fund for deep-tech investments and a collaboration between IITM Global and SouthwestX to help Indian startups access and scale in the German and French markets.

The MoUs were exchanged in the presence of Piyush Goyal and Ajay Sood.

IIT Madras also showcased technologies developed by its research groups and startup ecosystem, including innovations in Hyperloop transportation, 5G and 6G communications, port automation, lab-grown diamonds and indigenous artificial intelligence systems.

Officials said the event generated strong interest among European industry leaders, investors and academic institutions, opening up opportunities for future collaborations in research, entrepreneurship and market expansion.