This Collaboration Supports Startups in the Aerospace sector
T-Hub has announced a strategic partnership with Hindustan Aeronautics Limited (HAL). This collaboration aims to support startups in the Aerospace sector, and both organisations have formalised their alliance by signing a Memorandum of Understanding (MoU) for a two-year term. This collaboration aims to support startups in the aerospace and defence composite market, which is predicted to grow at a compound annual growth rate (CAGR) of 13.1 percent from 2021 to 2027, according to Statista.
To keep up with the increasing demand and stay ahead in the market, innovation is a crucial component of growth. The partnership between T-Hub and HAL will offer industry expertise, resources, and access to markets, providing startups with the necessary tools to develop and scale their technologies.
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. Meanwhile, 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 instituted a funding mechanism wherein 2% of the operating profit after tax is exclusively earmarked for startup engagement. As part of its efforts towards the Government of India’s Atmanirbar campaign, HAL is also focusing on research and development, indigenization, and startup corpus.
The partnership with T-Hub is a positive step towards leveraging the strengths of established companies and startup ecosystems to drive innovation and accelerate development in niche technological areas. T-Hub’s programs have successfully scaled startups in partnership with a robust ecosystem of partners. To date, T-Hub has impacted more than 2,000 companies through a variety of programs and initiatives. The organization has over 600 international and domestic business partners and 2,000 mentor connections to support the scaling of startups.