– Collaborative efforts between Indian startups and industry leaders provide a valuable opportunity for capital, mentorship, and guidance.
– As a part of this, T-Hub offers Hindustan Aeronautics Limited (HAL) access to cutting-edge startups in the Aerospace & Defence industry, enabling innovation and growth.
India, 17th Feb 2023: T-Hub, a pioneering innovation ecosystem in India, has announced a strategic partnership with Hindustan Aeronautics Limited (HAL), a leading aerospace company. The goal of this collaboration is to support startups in the Aerospace sector. The two organizations have formalized their partnership by signing a Memorandum of Understanding (MoU) for a two-year term. According to Statista, this collaboration aims to support startups in the aerospace and defense composite market, which is predicted to grow at a compound annual growth rate (CAGR) of 13.1 percent from 2021 to 2027.
Innovation is a crucial component of growth to keep up with increasing demand and stay ahead in the market. The partnership between T-Hub and HAL will provide startups with the necessary tools to develop and scale their technologies. Industry expertise, resources, and access to markets will be offered, and HAL will assist startups in building Proof of Concepts (PoC), giving them the opportunity to gain valuable industry expertise and support to bring their ideas to fruition. T-Hub will provide access to a diverse network of startups with expertise in niche technological areas, as well as mentorship, training, and support services to help startups succeed.
On this strategic partnership, MSR, CEO, T-HUB, said, “We are very excited to partner with HAL Hindustan Aeronautics Limited) to support startups in the aerospace sector. By leveraging HAL’s expertise and T-Hub’s resources, startups can gain valuable support and guidance to bring their ideas to market. This can include access to specialized facilities and equipment, guidance on industry best practices, and opportunities for collaboration and co-innovation. We are hopeful that our partnership will foster a culture of innovation and entrepreneurship in India’s aerospace sector, driving growth and creating new opportunities for startups.”
Dr D K Sunil, Director (Engineering, R&D), Hindustan Aeronautics Limited said “India has a strong innovation ecosystem. Innovation workshops, startup interactions, and a proper and timely mentoring will serve as a great opportunity for these upcoming technology-driven startups to find their momentum and accelerate in the right direction. We are delighted to be associated with such an initiative and also anticipating that this partnership will help the country and HAL in particular to achieve self-reliance in cutting edge defence technologies in line with GOI’s Atmanirbar campaign”.
HAL has established a funding mechanism that sets aside 2% of its operating profit after tax for startup engagement, in line with its commitment to the Government of India’s Atmanirbhar campaign, which emphasizes research and development, indigenization, and startup corpus.
By partnering with T-Hub, HAL is taking a positive step towards harnessing the strengths of established companies and startup ecosystems to drive innovation and accelerate development in specialized technological areas. T-Hub’s programs have been successful in scaling startups through a strong network of partners. To date, T-Hub has impacted over 2,000 companies through its various programs and initiatives, and has over 600 international and domestic business partners, and 2,000 mentor connections to support startups’ growth.
