PRNewswire
New Delhi [India], October 7: Chandigarh University's CUBIC, India's first university-led quantum incubator for deep-tech startups became an academic and incubation partner for PRAGATI Q-Foundry 2026, a national initiative of the Ministry of Science and Technology, aimed at accelerating the development and commercialization of quantum technologies, and signed a Memorandum of Understanding (MoU) with 247VC Investment Trust which is a leading Indian venture capital firm on the sidelines of the PRAGATI Q-FOUNDRY 2026 NQM Co-development and Venture Partnership Meet held on September 29–30 in New Delhi.
The MoU will facilitate direct access to potential investment opportunities, strategic mentorship and business support for quantum and deep-tech startups associated with CUBIC. The national meet was addressed by the Union Minister of State for Science and Technology and Earth Sciences, Dr. Jitendra Singh, and brought together startups, academic institutions, industry, investors, manufacturers to accelerate the translation of quantum technologies from research towards validation, co-development, commercialization and deployment under India's National Quantum Mission (NQM).
The MoU with 247VC Investment Trust adds an investment and business-development dimension to CUBIC's incubation activities. This collaboration aims to help promising startups associated with CUBIC access potential seed-stage and eligible early-stage funding opportunities to strengthen investment readiness and connect to relevant investor networks. Under this agreement, CUBIC may identify suitable startups from its incubation ecosystem and facilitate introductions to 247VC, subject to the investor's sector preferences, stage requirements and investment criteria.
The agreement also provides for potential investor–startup interactions through pitch sessions, curated meetings, demo days and other mutually agreed platforms. CUBIC may support eligible startups in preparing business plans, pitch decks, financial projections and technology and intellectual property documentation required for fundraising. Where mutually agreed, 247VC or its representatives to provide strategic mentorship in fundraising, business development, commercialization and market access.
The parties will also explore opportunities to connect eligible startups with venture capital funds, angel investors, family offices, corporate investors and strategic partners. Potential follow-on investments may be considered for selected ventures as they progress through subsequent stages of growth and fundraising, subject to 247VC's independent evaluation, due diligence, investment mandate and internal approvals. The MoU establishes a framework for collaboration but does not guarantee funding or create an obligation for the investor to invest in any startup.
Jai Inder Singh Sandhu, Managing Director, Chandigarh University, said, "PRAGATI Q-FOUNDRY 2026 highlights the importance of connecting academic research with industry, investors and strategic users so that promising technologies can move closer to practical applications. Through CUBIC's role as an academic and incubation partner, Chandigarh University aims to contribute by bringing together research capabilities, emerging talent and entrepreneurial innovation in quantum and other deep-tech domains. Our MoU with 247VC complements this effort by creating a structured pathway for eligible startups to engage with potential investors, strengthen their investment readiness and access strategic mentorship."
Sandhu added, "For the National Quantum Mission to translate into lasting technological and economic value, India needs to connect scientific research with technology validation, industry adoption, investment and entrepreneurship. Universities can contribute by nurturing talent, supporting research-led innovation and helping promising ideas progress towards commercially viable solutions. Through these collaborations, we aim to strengthen the connections between research, incubation and investment and support India's broader ambition of developing indigenous, globally competitive technologies."
The CUBIC will help connect academic knowledge, research capabilities and emerging entrepreneurial ideas with opportunities for technology development and industry engagement. The association will create avenues for students, researchers, faculty members and aspiring entrepreneurs to engage with stakeholders working in quantum technologies and other frontier domains. The initiative aligns with the broader objectives of the National Quantum Mission, which seeks to strengthen indigenous capabilities in quantum computing, quantum communication, quantum sensing and metrology and quantum materials and devices.
PRAGATI Q-FOUNDRY 2026 provided a national platform for academic and research institutions to showcase promising technologies, connect with strategic users and investors and explore technology transfer, co-development and deployment opportunities. By participating in this initiative, CUBIC aims to strengthen the link between university-led research and practical technology applications, supporting the progression of promising ideas towards deep-tech ventures. Its areas of interest extend beyond quantum technologies to include semiconductors, photonics, advanced materials, robotics and artificial intelligence.
Chandigarh University
Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.
Website address: https://www.cuchd.in/
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