PALS inks MoU to support early-stage startups

PALS, an IIT alumni–led voluntary initiative, signed Memoranda of Understanding (MoUs) with Immersive Technology & Entrepreneurship Labs (ITEL), IIT Madras, and AIC Anna Incubator. The aim is to mentor and support early-stage startups emerging from PALS partner institutions.

PALS also hosted EDC 360° – a conclave on entrepreneurial development at IIT Madras, bringing together heads and senior leaders from 40 engineering institutions. The conclave focused on building entrepreneurship and innovation ecosystems within engineering colleges and equipping institutions to nurture future-ready engineers.

Ashok Jhunjhunwala, chairman of ITEL and former president of IIT Madras Research Park, told the participants to focus on local problems like waterlogging, urban transport, and cybersecurity, which can lead to innovation. “While not all students will become founders, 15% can sustain the journey with the right nurturing,” he added.

Sharing details on the evolution of PALS over the last 13 years, R. Krishnamurti Rao, PALS Champion and Head of the PALS Innovation Tower, said: “What began as a small alumni initiative has now grown into a robust bridge connecting IITs, industry, and private engineering institutions across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala, and Nepal.”

Mohan Narayanan, Governing Board Member, PALS, said, “PALS’ entrepreneurship forum has set a vision for itself to help create at least one successful startup from every institution that partners with it. Today’s EDC conclave is a step to understand common issues, challenges and opportunities our institutions face so that we can fine-tune our offerings that will help them successful in their journey to create successful entrepreneurs”.

Shankar Venugopal, VP – Technology & Innovation, Mahindra & Mahindra, spoke on how real-world industry challenges can serve as catalysts for Innovation Labs within engineering colleges. He highlighted the importance of academia–industry collaboration for quicker problem-solving and building student competencies.