The Indian Institute of Technology Hyderabad (IIT-H) Technology Incubation Center (iTIC), and Ansys Software, a leading engineering simulation software company in India, have joined forces to leverage the strengths of both organisations to empower technology startups in the field of engineering simulation. Ansys and iTIC have signed a Memorandum of Understanding (MoU) in this regard.

“Through this alliance, Ansys is dedicated to providing crucial resources for IIT-H startups at a price point to catalyse technological advancements and support the vibrant entrepreneurial ecosystem in the country. We look forward to playing a pivotal role in the growth journey of these startups, driving engineering excellence, and contributing to India's innovation landscape.” said Mike Yeager, Area Vice President of Sales, India and Japan, Ansys.

Technical mentoring, and startup access will be provided for technology startups within the iTIC incubator premises.

“This will contribute towards fostering a thriving technological innovation and growth ecosystem in India.” said Dr S. Surya Kumar, Vice-President, iTIC Foundation.

With a focus on creating a nurturing environment for technology entrepreneurs, the iTIC Incubator provides stage-wise intervention for startups to grow in the deep-tech entrepreneurial ecosystem. iTIC helps entrepreneurs leverage a premier-quality research and startup ecosystem to build a comprehensive platform to practice innovation and entrepreneurship and turn these entrepreneurial ideas into sustainable, scalable, profit-making business ventures.