Startup Originals Team
IIT Madras Research Park has partnered with Unicorn India Ventures to launch a ₹500 crore deep-tech-focused fund aimed at supporting early-stage innovation with long-term, patient capital. The fund is expected to back around 25 startups working in complex, research-intensive technology areas, strengthening India’s deep-tech and innovation ecosystem.
Strategic Partnership to Support Deep Tech
The new fund brings together IIT Madras Research Park and Unicorn India Ventures, combining academic research depth with venture capital expertise. The collaboration is designed to bridge the gap between cutting-edge research and commercial scale-up, a challenge often faced by deep-tech startups.
Officials associated with the initiative said the fund will focus on startups emerging from strong research foundations, including academic institutions, corporate R&D centres, and independent research labs.
₹500 Crore Fund With Long-Term Vision
Unlike traditional venture funds that prioritise rapid scale and early exits, the ₹500 crore fund is structured to provide patient, long-term capital. Deep-tech startups typically require longer development cycles due to heavy R&D, regulatory approvals, and hardware or infrastructure dependencies.
The fund plans to invest in approximately 25 startups, offering not just capital but also access to mentorship, research infrastructure, and industry networks through IIT Madras Research Park and Unicorn India Ventures.
Focus Areas and Technology Domains
The fund will target startups working across a range of deep-tech domains, including advanced manufacturing, artificial intelligence, robotics, aerospace, clean energy, semiconductors, biotechnology, and other science-led innovations.
By focusing on high-impact technologies, the initiative aims to support companies that can create defensible intellectual property and contribute to India’s long-term technological self-reliance.
Leveraging IIT Madras Research Ecosystem
IIT Madras Research Park is one of India’s leading innovation hubs, hosting startups, global corporations, and research centres under one ecosystem. Startups backed by the fund are expected to benefit from access to laboratories, testing facilities, faculty expertise, and collaboration opportunities within the IIT Madras ecosystem.
This close linkage between academia and venture capital is expected to accelerate the translation of research into commercially viable products.
Strengthening India’s Deep-Tech Pipeline
Unicorn India Ventures said the fund aligns with its broader strategy of backing technology-first companies with strong engineering and innovation capabilities. The firm has previously invested in startups across sectors such as manufacturing tech, data platforms, and enterprise software.
Industry observers view the fund as timely, given India’s growing focus on deep-tech, driven by policy support, increased research output, and demand for indigenous technology solutions.
Looking Ahead
The launch of the ₹500 crore fund reflects increasing recognition that deep-tech innovation requires a different investment approach compared to consumer or internet startups. By combining patient capital with research-led support, the IIT Madras Research Park–Unicorn India Ventures initiative aims to create a pipeline of globally competitive deep-tech companies from India.
The first set of investments is expected to be announced over the coming months, as the fund begins deploying capital into promising early-stage ventures.
