Indian Institute of Technology Madras (IIT Madras) is establishing the IIT Madras Research Foundation to support its global goals. This foundation will serve as a launchpad for start-ups from the Institute’s advanced technology ecosystem, helping them reach international markets and obtain funding for research and innovation. Additionally, it aims to enhance the Institute’s master’s and doctoral programs through strategic collaborations with universities and industry partners.
To achieve this vision, IIT Madras has named Mr. Thirumalai Madhavnarayan, a seasoned professional in business management and technology, as the first CEO of the IIT Madras Research Foundation.
The ‘IIT Madras Research Foundation is being established to broaden IIT Madras’ international presence, foster innovation and entrepreneurship, and strengthen ties with industry and research and development partners.
Prof. V. Kamakoti, Director of IIT Madras, outlined the vision for the IIT Madras Research Foundation, stating, “IITMRF aligns with India’s vision to become a global leader and foster the creation of international startups. We are pleased to have Mr. Narayan, an experienced industry professional, lead this initiative as CEO.”
The foundation will concentrate on several key areas, including:
- Patents and technologies poised for commercial use
- Start-ups founded by IITM faculty, students, and researchers
- Market-driven explorations, such as those in green growth
Prof. Mahesh Panchagnula, Dean of Alumni and Corporate Relations at IIT Madras highlighted the potential impact of the IIT Madras Research Foundation (IITMRF). He believes it could revolutionize not only IIT Madras but also the entire nation by showcasing how academic institutions can take their innovations to a global level.
Mr. Madhav Narayan, the CEO of IITMRF, brings over 37 years of extensive experience in building and scaling businesses for major global technology companies such as Intel, HP, Dell, Samsung, and Epson. He played a key role in founding the Redington Group and has established strong relationships with government bodies, the technology ecosystem in emerging markets, and academic institutions in various regions.
Prof. Raghunathan Rengaswamy, Dean of Global Engagement at IIT Madras, noted that this initiative is another significant step in IITM’s internationalization efforts. IIT Madras boasts an impressive research and innovation portfolio worldwide, with 161 active US patents and over 10,000 alumni holding leadership positions in top firms and founding companies and start-ups.
Mr. Narayan outlined the goals of the IITMRF, describing it as a scalable, sustainable platform that takes IIT Madras assets global, promoting exponential growth in innovation and entrepreneurship, and enhancing industry engagement and R&D partnerships.
In 2017, Mr. Narayan contributed to building the Digital Strategy for the Dubai Electricity and Water Authority as part of the Dubai Government’s ambitious ‘10X program’. His work involved forming strategic partnerships with major technology vendors and leading academic institutions globally.
Throughout his career, Mr. Narayan has received numerous awards, including the CEO’s Gold award at Samsung, the Circle of Excellence award at Dell, and the Outstanding Executive of the Year award by CPI. He was also recognized as a young business front-runner in 1990 and was ranked among the top 50 influential channel executives in the Middle East in 2010 and 2012.
Source: IndiaEducationdiary
