Altair, IIT Madras sign MoU to foster startups with technology access

KOLKATA: Global technology company Altair signed an MoU with the IIT Madras –Incubation Cell (IITM-IC) to foster startup technology access and mentorship.

The MoU establishes cooperation between IITM-IC and Altair to connect, identify, and select relevant startups from the incubation cell. Altair will provide the technology access and mentorship to select startup companies for one year formed under the incubation cell and will institute an award for a startup that best utilizes simulation technology during the year.

“Considering the government’s push for adoption of deep technology, this mandates industry and startup companies to explore the latest technologies to develop their products faster,” said business development manager for electro-magnetic solutions, Manoj Menghrajani in a statement. “Applying simulation technology early in the product design process will help startups launch a robust product earlier in the market at a much lesser cost.”

“IITM-IC is a deep-tech incubator with many product start-ups. Our partnership with Altair enables access to simulation-driven design, computer-aided engineering, cloud computing, and Internet of Things (IoT) solutions,” said Tamaswati Ghosh, chief executive officer of IITM-IC. “This is extremely beneficial for product start-ups in our portfolio who are strapped for resources. This program will help them accelerate their growth to new heights.”

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