IMU Sows the Seeds of Innovation with Financial Support to Startups to Attain Self-Sustainability in Maritime Sector
Chennai:
Port Wings News Network:
Marking a significant milestone in strengthening India’s maritime innovation and start-up ecosystem, Dr. Malini V. Shankar, Vice Chancellor, Indian Maritime University (IMU), on 15 July 2026 inaugurated the new IMU I-SEAS (IMU Start-up Entrepreneurship Accelerator Setup) at its Headquarters in Chennai.
The newly established Maritime Innovation Hub has been envisioned as a dedicated platform to nurture maritime innovation, entrepreneurship, and enterprise development among students, alumni, researchers, and aspiring entrepreneurs.
According to IMU official, this initiative aims to create a vibrant ecosystem that supports start-ups, encourages innovative solutions to industry challenges, and promotes collaboration among seafarers, port professionals, industry partners, academic institutions, and research organizations.
Addressing the gathering after inaugurating the facility, Dr. Malini V. Shankar said that the new maritime innovation lab “marks the culmination of a year-long initiative catalyzed by the Ministry of Ports, Shipping and Waterways and supported by key partners including IIT Madras, IIT Bombay, and Chennai Port.”
The project represents a significant shift for the university [IMU], moving beyond traditional academics toward a robust ecosystem of research, innovation, and startup integration, added Dr. Malini V. Shankar.
She emphasized that initiatives such as IMU I-SEAS will empower young innovators to develop transformative solutions for the maritime industry while contributing to India’s vision of becoming a global maritime leader.
The Vice Chancellor also emphasized that the hallmark of a premier central university must extend beyond classroom teaching to include research, publications, and entrepreneurship.
Highlighting the importance of the new innovation lab, the Vice Chancellor stated that the facility is designed to foster a ‘symbiotic relationship’ between industry and academia.
The Vice Chancellor stressed that “creativity” must be nourished by appropriate pedagogy, moving away from the exam-oriented learning toward a method that stimulates students to ‘search, research, extrapolate, and have cross-pollination of ideas’ to find alternative solutions to complex industrial problems.
Earlier, Dr. Shree Rajoo Balaji, Pro Vice Chancellor of IMU, handed over the Memorandum of Agreement (MoA) to four start-ups — Elixiir Ecobiotek Private Limited, Navirego, DB Potential LLP, and Shastri Electronics And Innovations Private Limited — that were selected through a hackathon conducted by the Ministry of Ports, Shipping and Waterways.
Vice Chancellor disbursed the initial funding of Rs. 60 lakhs to the start-ups, with the total value of the current program reaching around Rs. 5 crores.
The inauguration of IMU I-SEAS marks another significant step in Indian Maritime University’s ongoing mission to position maritime innovation and entrepreneurship as key drivers of sustainable growth, technological advancement, and nation-building.
The initiative is expected to inspire students and young professionals to transform innovative ideas into impactful maritime enterprises that contribute to India’s expanding blue economy.
The inauguration ceremony was also graced by Dr. Y.V.V.S.N. Murthy, I-SEAS Centre Director; and Dr. Murali, Professor, IIT Madras, along with distinguished guests from academia and the maritime industry.
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