ARIIA Rankings: IIT-Madras adjudged as top innovative educational institution
Indian Institute of Technology, Madras (IIT-M) has been adjudged as the top innovative educational institute in the country for the second consecutive year by the government of India.
The institute has been ranked Number 1 in the Atal Ranking of Institutions on Innovation Achievements (ARIIA) launched last year by the Innovation Cell of Ministry of Education (formerly Ministry of Human Resource Development) in ‘Institutions of National Importance, Central Universities and Centrally Funded Technical Institutions’ category. Around 674 institutions have participated in the ARIIA Rankings this year compared with 496 Institutions last year.
Vice president M Venkaiah Naidu announced the results on Tuesday at a virtual event in the presence of Ramesh Pokhriyal Nishank, Union minister for education, and other officials.
ARIIA systematically ranks education institutions and universities primarily on innovation related indicators. It aims to inspire Indian institutions to reorient their mindset 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.
IIT- M excelled in ARIIA owing to its strong entrepreneurial eco-system that encourages students to become job-generators. The IIT Madras Incubation Cell (IITMIC) in the IITM Research Park is India’s leading deep-technology startup hub with Innovation and Impact as key differentiators and drivers.
While IITMIC handles the startups, there are other innovation platforms for students even before they graduate. They include Nirmaan, a pre-incubator, Center for Innovation (CFI), which provides a platform to the students to ‘walk in with an idea and walk out with a product’, and the Gopalakrishnan Deshpande Centre for Innovation and Entrepreneurship that grooms wannabe entrepreneurs.
Bhaskar Ramamurthi, director, IIT-M, said, “IIT Madras is known for its world-class innovation ecosystem consisting of the research park and several other centres, that has already produced world-class companies and disruptive technologies for India. We are proud to be recognised a second time in succession as India’s top innovative educational institution under ARIIA.”
IITMIC houses incubators such as healthcare technology innovation centre, rural technology and business incubator and bio-tech incubators. IITMIC has incubated over 200 deep tech startups (Till June 2020) that have attracted VC / Angel investor funding to the tune of $ 235 million and having a valuation of $ 948 million. They had a cumulative revenue of $ 61 million in 2019-20 financial year, creating over 4,000 jobs and generating over 100 patents.