IIM Mumbai and Starburst Collaborate to Boost ASD Startups

30th March 2024: In a strategic move to enhance the aerospace, new space, and defense (ASD) startup ecosystem in India, the Indian Institute of Management (IIM) Mumbai has joined forces with Starburst, a global aerospace and defense accelerator. This collaboration, aimed at leveraging the expertise and resources of both entities, is set to significantly impact the innovation landscape in the country.Starburst, known for its global presence and extensive network, is dedicated to connecting startups with corporates, investors, and governments in the aerospace and defense sectors. With offices in key locations worldwide, including Paris, Los Angeles, Munich, and Singapore, Starburst has cultivated relationships with over 17,000 startups, positioning itself as a pivotal player in fostering innovation in the industry.Through this partnership, IIM Mumbai and Starburst are committed to nurturing entrepreneurship and innovation in critical sectors like aerospace, new space, and defense. By providing a conducive environment for startups to thrive, the collaboration aims to bolster India's standing as a hub for ASD innovation on the global stage.François Chopard, the Chief Executive of Starburst Aerospace, emphasized the importance of creating a robust ASD ecosystem that supports deep tech innovation and production in India to address the evolving challenges faced by the aerospace, new space, and defense sectors worldwide. This initiative underscores the significance of encouraging young entrepreneurs as India strives to strengthen its economy and compete on a global scale.V Kamakoti, the Director of IIM Mumbai, highlighted the pivotal role of collaborations with accelerators in nurturing startups in emerging sectors. The focus of this partnership will be on empowering entrepreneurs, research parks, investors, government bodies, and corporate firms to drive innovation and rapid growth in the aerospace and defense startup landscape.Structured programs combining academic knowledge with practical startup guidance, workshops, seminars, and mentoring sessions will be tailored to support Indian startup clusters and innovative projects. By equipping startups with essential business tools and facilitating collaborations with industry stakeholders and government entities, the program aims to accelerate the development of startups, attract external capital, and de-risk investments.In conclusion, the collaboration between IIM Mumbai and Starburst signifies a significant step towards fostering innovation, entrepreneurship, and growth in the aerospace, new space, and defense sectors in India. By harnessing the collective expertise and resources of both institutions, this partnership is poised to drive the emergence of cutting-edge startups that will shape the future of the ASD industry both locally and globally.