IIT Madras to launch Rs 200 crore VC fund
The fund, titled the IITM Alumni Fund, will mark a first-of-its-kind initiative in India's academic landscape, directly linking alumni capital with institute-affiliated entrepreneurship.
'All of you can invest,' Prof. Kamakoti told the alumni audience. 'This is your opportunity to work with great startups and technologies, and to grow along with your alma mater.'
The fund aims to support early-stage companies founded by IIT Madras students, faculty, and alumni, and will invite contributions from the global IITM alumni network.
Kamakoti cited the Tamil phrase, loosely translated as 'giving returns to the giver,' to underline the dual value proposition of impact and returns.
While operational details are yet to be formally released, the fund's vision is bold: By 2032, Kamakoti wants to see one IPO per month from the IITM startup ecosystem. 'If IIT Madras can't do it, I don't think India can,' he said.
Speaking at the event, another faculty member added that this initiative is likely the first such VC fund by an Indian academic institution aimed exclusively at nurturing its startup ecosystem.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Ford&Go. Extra Bonus di € 1.500 e prima rata a ottobre.
Ford Italia
Scopri di più
Undo
'We hope this will give rise to dozens of Tarun Mehtas,' they said, referring to the Ather Energy cofounder and IITM alumnus.
The announcement comes at a time when IIT Madras has emerged as one of the country's most prolific academic incubators, credited with spawning deeptech ventures across electric mobility, AI, and space tech. The fund is expected to institutionalise that pipeline and scale it with alumni-backed capital.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
23 minutes ago
- Indian Express
PM Modi Brazil Visit LIVE Updates: PM Modi greeted with Operation Sindoor-themed performance in Rio
PM Modi Brazil Visit for BRICS Summit 2025 LIVE Updates: PM Modi Brazil Visit for BRICS Summit 2025 LIVE Updates: Prime Minister Narendra Modi arrived in Brazil on Sunday for a four-day visit to participate in the 17th BRICS Summit, scheduled for July 6 and 7. As he reached Rio on Saturday night, the Prime Minister was welcomed by the Indian community with a cultural performance based on the theme of Operation Sindoor. Modi's five-nation visit: Brazil is the fourth stop on Modi's five-nation tour. Before this, he visited Ghana, Trinidad and Tobago, and Argentina. In Argentina, Modi held wide-ranging talks with President Javier Milei and agreed to diversify two-way trade and ramp up cooperation in defence, critical minerals, pharmaceutical, energy and mining sectors. After Brazil, he will travel to Namibia as the final leg of his journey.
News18
29 minutes ago
- News18
One Big, Beautiful Bill Act: How New US Law Impacts NRIs Sending Money To India
One of the key proposals in the act that may directly impact the Indian diaspora residing in the US is the imposition of remittance tax at the rate of 3.5 per cent. One Big, Beautiful Bill Act: Despite staunch protests and opposition, the controversial piece of legislation 'One Big, Beautiful Bill Act', strongly backed by US President Donald Trump, has now become a law, bringing sweeping reforms including major tax changes, welfare cuts, defence spending hikes, and cultural policy. The bill had been passed by both the US Senate and the House of Representatives. Later, it was signed into law by President Trump at a ceremony held on July 4, during Independence Day celebrations at the White House. One of the key proposals in the act that may directly impact the Indian diaspora residing in the US is the imposition of remittance tax. Thereupon, NRIs living in the US on H1B, L1, F1 visas, and even Green Card holders will have to pay an Excise tax on remittances at the rate of 3.5 per cent (earlier proposed to 5 per cent), making it costlier to send money. 'The proposed tax will significantly affect Indian immigrants who send money to support families in India," said Bikramjit Bedi, Partner – Taxation, ASA & ASSOCIATES LLP. He noted that the added burden may deter many from continuing regular remittances, potentially impacting India's foreign exchange inflows. These individuals frequently remit funds to support their families back home. Experts warn this could lead to a decline in the overall volume of remittances. In FY24, India received nearly $33 billion in remittances from the US, according to RBI data—almost 28% of the total $118.7 billion in remittances received. A drop in this figure could impact household incomes and consumption levels in India. Complex Compliance And Legal Ambiguity Another layer of concern is the lack of clarity on whether taxpayers can claim credits for the remittance tax. 'India has a similar TCS provision, but offers relaxations based on purpose. The US tax, however, offers no such relief," Bedi pointed out. The tax may also test the limits of the India-US Double Taxation Avoidance Agreement (DTAA). While some argue the proposed levy violates the DTAA's non-discrimination clause, others believe the clause only covers income tax—not excise or transactional levies. Deepashree Shetty, Partner – Global Employer Services, BDO India, said the tax could impose not just financial pressure but also added paperwork. 'Remitters may face enhanced scrutiny, as banks would need to report data like nationality, remittance amounts, and tax paid," she explained. She added that given their temporary stay, individuals on such visas rely heavily on remittances. 'The tax would be an additional charge, reducing the net amount that reaches families back home," she said. About the Author First Published: July 06, 2025, 09:28 IST
India.com
31 minutes ago
- India.com
Shubman Gills Net Worth In 2025: From IPL's Rs 26.5 Crore Earnings To BCCI's Central Contract - All You Need To Know
photoDetails english 2927330 Updated:Jul 06, 2025, 09:34 AM IST Net Worth Overview (2025) 1 / 10 As of 2025, Shubman Gill's estimated net worth stands between Rs 32 to Rs 34 crore (approximately 4-6 million dollars). This includes his IPL earnings, central BCCI contract, match fees, and several lucrative brand endorsements. IPL Journey and Salary 2 / 10 Gill's journey in the Indian Premier League began with the Kolkata Knight Riders in 2018 when he was bought for Rs 1.8 crore. He remained with KKR until 2021 before joining Gujarat Titans in the IPL 2022 mega auction for Rs 8 crore. GT retained him for Rs 16.5 crore in IPL 2025, making him one of the highest-paid players in the league. Earnings from BCCI Contracts 3 / 10 Apart from IPL riches, Shubman Gill is also on a Grade A central contract with the BCCI. This entitles him to an annual salary of ₹5 crore. In addition to this base amount, he receives match fees for every Test, ODI, and T20I he plays, Rs 15 lakh per Test, Rs 6 lakh per ODI, and Rs 3 lakh per T20I. Brand Endorsements and Collaborations 4 / 10 Gill is one of the most in-demand faces for endorsements among Gen Z cricketers. He currently endorses top-tier brands including TATA Capital, Gillette, CEAT Tyres, Beats by Dr. Dre, BharatPe, My11Circle, and MRF. Lifestyle, Cars, and Assets 5 / 10 Known for his humble roots, Shubman Gill owns a lavish residence in his hometown of Ferozpur, Punjab. His collection includes a stylish Range Rover SUV and a rugged Mahindra Thar. Total Earnings Breakdown 6 / 10 To break down his known earnings: Shubman has made approximately Rs 26.5 crore from the IPL alone so far (Rs 1.8 crore with KKR and Rs 24.7 crore with Gujarat Titans). His BCCI earnings, both annual and match-related, are estimated at around Rs 6 crore in a year where he plays consistently. Add to that his endorsements, which could bring in Rs 2–3 crore annually, and Gill's net worth comfortably crosses the Rs 32–34 crore mark. Recent Performance vs England (Edgbaston 2025) 7 / 10 In July 2025, Shubman Gill delivered a career-defining performance in the second Test against England at Edgbaston. Scoring 269 runs in the first innings and 161 in the second, Gill registered a combined total of 430 runs in a single Test match, becoming the second-highest run-scorer ever in a Test, behind only Graham Gooch's 456. Record-Breaking Test Feats 8 / 10 Gill's 430-run effort made him the first Indian cricketer in history to score more than 400 runs in a Test match, breaking Sunil Gavaskar's record of 344 runs. He also became the first batter ever to score 250+ and 150+ in the same match. Captain's Class and Match Impact 9 / 10 Shubman's innings not only set personal records but also had a match-winning impact. As captain, he led India to a massive second-innings declaration of 427/6, setting England a target of 608 runs. His stroke play, patience, and temperament drew praise from all quarters. The Road Ahead: Legacy in the Making 10 / 10 At just 25 years old, Gill is already living up to, and in some cases, surpassing expectations set upon him when he first emerged from India's U-19 setup. His on-field excellence is translating into off-field wealth and stature. With his market value growing and performances like the one in Edgbaston boosting his global brand appeal, Shubman Gill's future looks not only bright but legendary.
