This strategic partnership aims to cultivate an ASD ecosystem centered around IIM Mumbai, providing vital support and resources to ASD start-ups across the nation.
To redefine the landscape of the aerospace, new space, and defence (ASD) industry in India, the Indian Institute of Management Mumbai (IIM Mumbai), a business school, has entered into a strategic collaboration with Starburst, an European aerospace, new space, and defence (ASD) accelerator. This strategic partnership aims to cultivate an ASD ecosystem centered around IIM Mumbai, providing vital support and resources to ASD start-ups across the nation.
The collaboration comes at a pivotal moment as India experiences unprecedented growth and transformation within the ASD sector. More than Rs 1,000 crore was invested in Indian space start-ups from April to December 2023. This was according to Dr Jitendra Singh, has taken over as the Minister of State (Independent Charge) for Science and Technology.
Recognising the immense potential and significance of fostering innovation in this domain, Prof. Manoj K Tiwari, Director of IIM Mumbai, and Francois Chopard, representing Starburst, formalised this partnership through a signing ceremony held at IIM Mumbai on March 26, 2024.
The event witnessed the presence of guests, including Rajinder Bhatia, Chairman of Defence Business, Kalyani Group and SIDM President, and Anil Verma, Executive Director and CEO at Godrej & Boyce.
"This strategic collaboration between IIM Mumbai and Starburst signifies a crucial step towards nurturing and empowering the burgeoning ASD start-up ecosystem in India," remarked Prof. Manoj K Tiwari. "By leveraging the expertise and resources of both institutions, we aim to provide unparalleled support to ASD startups, enabling them to thrive and contribute significantly to India's ASD industry."
Starburst, known for its global network and deep industry knowledge, brings invaluable experience to the collaboration, according to a company statement. "We are excited to partner with IIM Mumbai to foster innovation and entrepreneurship within the aerospace, new space, and Defence sectors in India," said Francois Chopard, founder and CEO of Starburst. "Through this collaboration, we aim to catalyse the growth of ASD start-ups by providing them with access to mentorship, funding opportunities, and international networks."