Altair, IIT Madras signed MoU for Simulation Driven solutions in Cloud, IoT field

Altair Engineering has recently signed an MoU with the IIT-Madras incubation cell to enable better technology access and mentorship for the startups, Economic Times reported.

The MoU will help the Altair to identify and select some of the relevant startups from the incubation cell, notes the announcement. The partnership enables access to simulation-driven design, computer-aided engineering, cloud computing, and Internet of Things (IoT) solutions, notes the ET report.

Altair Engineering offers engineering, analytics, and on-demand computing software technologies services. Its technology helps to optimize the analysis, management, and visualization of business and engineering information.

Executive Opinion

In ET report, Business development manager for electro-magnetic solutions, Manoj Menghrajani, said, "Considering the government’s push for the adoption of deep technology, this mandates industry, and startup companies to explore the latest technologies to develop their products faster. Applying simulation technology early in the product design process will help startups launch a robust product earlier in the market at a much lesser cost."

In the same report, Chief Executive Officer of IITM-IC, Tamaswati Ghosh, said, "IITM-IC is a deep-tech incubator with many product start-ups. Our partnership with Altair enables access to simulation-driven design, computer-aided engineering, cloud computing, and Internet of Things (IoT) solutions. This is extremely beneficial for product start-ups in our portfolio who are strapped for resources. This program will help them accelerate their growth to new heights."

Altair Engineering and IIT-Madras

IIT-Madras incubation cell is the umbrella body for overseeing and nurturing innovation and entrepreneurship at the university.It offers facilities such as infrastructure and space, access to business support services, training, and mentorship programs to enhance entrepreneurs and seed funds.

Altair primary aim is to offer the latest emerging technology access and mentorship to startups for a year. The company also intends to give an award for the startup that best utilizes simulation technology during the year.

The company products include PBS GridWorks, a software environment for the grid, cluster, and on-demand computing and HyperWorks, an enterprise solution for the design exploration and decision-making.