Chennai: Indian Institute of Technology Madras (IIT-M) was adjudged as the top innovative educational institute in the country in the Atal Ranking of Institutions on Innovation Achievements (ARIIA) ranking for the second consecutive year.
M. Venkaiah Naidu, Vice President of India, announced the results on Tuesday. Around 674 Institutions had participated in the ARIIA Rankings this year compared with 496 Institutions last year. ARIIA ranking was launched last year by the Innovation Cell of the Ministry of Education in ‘Institutions of National Importance, Central Universities and Centrally Funded Technical Institutions.
IIT M excelled in ARIIA owing to its strong entrepreneurial ecosystem that encourages students to become job-generators. The IIT Madras Incubation Cell (IITMIC) is India’s leading deep-technology startup hub with Innovation.
ITMIC houses incubators such as Healthcare Technology Innovation Centre (HTIC), Rural Technology and Business Incubator (RTBI) and Bio-Tech incubators. IITMIC has incubated over 200 deep tech start-ups till June that have attracted angel investments to the tune of USD 235 Million and having a valuation of USD 948 Million.
They have cumulative revenue of USD 61 Million by 2019-20 financial year, creating over 4,000 jobs and generating over 100 patents. The startups are in sectors such as Manufacturing, IoT, energy or renewables, medical devices, water, edu-tech orskill development, agri-tech, robotics, AI, and data analytics.
Prof Bhaskar Ramamurthi, Director, IIT M said that the institute was known for its world-class innovation ecosystem consisting of the Research Park and several other centres. “We are proud to be recognized a second time in succession as India’s top innovative educational institution under ARIIA.”
ARIIA endeavours to systematically rank education institutions and universities primarily on innovation related indicators. It aims to inspire Indian institutions to reorient their mind-set and build ecosystems to encourage high quality research, innovation and entrepreneurship. More than quantity, ARIIA focuses on quality of innovations and measures the real impact created by these innovations nationally and internationally.
