PALS to power startup ecosystem, inks MoUs with IIT-M, AIC Anna Incubator

CHENNAI: In a move to accelerate innovation across engineering campuses, PALS — an IIT Madras alumni-led initiative — signed two strategic Memoranda of Understanding (MoUs) on Saturday, strengthening its support for emerging student entrepreneurs. The agreements with IIT Madras’ Immersive Technology & Entrepreneurship Labs (ITEL) and AIC Anna Incubator (Anna University) were formalised during the EDC 360° Conclave at IIT Madras.

The partnerships aim to give student innovators access to advanced incubation facilities, deep-tech mentorship, and industry-aligned guidance, significantly strengthening the entrepreneurial pipeline in Tier-II and Tier-III engineering institutions across south India.

The conclave, convened by PALS, brought together senior leaders and Entrepreneurship Development Cell (EDC) heads from 40 colleges to discuss ways to build resilient, future-ready campus innovation ecosystems.

Welcoming delegates, R Krishnamurti Rao, PALS Champion and Head of the PALS Innovation Tower, said the collaborations would open new pathways for engineering education and reinforce PALS’ 13-year mission of fostering practical problem-solving and entrepreneurial capability.

In his inaugural address, Ashok Jhunjhunwala, Chairman of ITEL, stressed the importance of sustained mentorship. “A technical idea alone cannot carry a startup to success.

Students need consistent direction from experienced faculty and industry mentors. Talent exists everywhere; what matters is structured nurturing,” he said.

Industry leader Dr Shankar Venugopal of Mahindra & Mahindra highlighted how real industrial challenges can energise innovation labs, urging institutions to develop agile academia–industry linkages.

A panel featuring EDC leaders from five PALS partner institutions shared insights on credit structures, internship pathways, incubator access, and building long-term EDC models.

With 67 partner colleges across south India, PALS’ new MoUs are set to expand opportunities for student innovators and advance its vision of enabling at least one successful startup from every partner institution.