InnovateX, MathWorks flagship event, boosts innovation in regional startup communities

What do aerospace, Electric Vehicles (EVs), and defence industries have in common? They are all on the cusp of great transformation.

India’s space sector has witnessed a revolution of sorts in recent years. Buoyed by successful missions like Mangalyaan and Chandrayaan 1, 2, and 3, it has thrown its doors wide open for startups and private enterprises. Investors put $119 million into Indian space startups in 2022, according to an article in T-Hub.

The EV sector is experiencing immense progress, with the Indian Brand Equity Foundation forecasting a rise in market growth from $3.21 billion in 2022 to $113.99 billion by 2029. The defence startup ecosystem is also thriving, with 400 startups active in 350 projects under the Innovations for Defence Excellence (iDEX) and 100 projects under the Technology Development Fund (TDF), both defence ministry schemes.

The rise of these sectors is undoubtedly connected to strong regional startup communities in cities across India.

Startups in Hyderabad, Mumbai, Bangalore, and Chennai have helped drive the growth of these industries. However, they require advanced tools to simulate, analyse, and model complex systems as they continue to expand. Recognising these needs, MathWorks launched InnovateX in 2024, a flagship series of events that brought regional startup communities together for day-long insight, information, networking, and collaboration events. Each theme was selected based on its regional relevance, with speakers and partnerships curated accordingly.

MathWorks is pleased to announce the continuation of the InnovateX series in 2025, submit your interest to be the first to know about dates and details.

Stimulating regional startup communities 

Regional startup communities act as a cradle for ideation, and events like InnovateX bring together key players and stakeholders to further foster networking, knowledge sharing, and community building. This series of events brought together top academic minds with corporate leaders to spark thought and action.

Through InnovateX, MathWorks acts as a facilitator in these communities, offering thought leadership and building critical partnerships. In 2024, InnovateX events took place in Bangalore, Hyderabad, and Mumbai before culminating with the Chennai edition.

Each edition of InnovateX was conducted through a partnership with an accelerator or incubator of regional importance with significant influence in the community. MathWorks worked with each regional partner to analyse the local startup ecosystem trends and industry focus when choosing the event theme.

“InnovateX is a celebration of India's vibrant regional startup communities. It reinforces MathWorks commitment to nurturing the next generation of innovators and accelerating the growth of the Indian startup ecosystem. By bringing together innovators from diverse backgrounds and industries, we are fostering a network of support and collaboration. We're excited to see how these communities will continue to shape the future of technology”, said Andrew Willard, Global Manager - Startup & Accelerator Program, MathWorks.

Spotlighting EV startups in Bangalore

InnovateX Bangalore was held in association with NSRCEL IIMB, a leading business incubator focused on aiding founders and funding their journeys. NSRCEL IIMB has incubated nearly 2,813 ventures, worth over $7.37 billion in combined value. Given the significant presence of EV startups in Bangalore, the event brought together industry leaders, startups, and key stakeholders.

Reaching new heights in drone development in Maharashtra

The Mumbai edition of InnovateX marked an unorthodox move for MathWorks, extending its reach beyond traditional customer bases. As the financial capital of India, Mumbai hosted the second edition of InnovateX in partnership with Arthayan, highlighting the Maharashtra Drone Mission and fostering developments in emerging technologies.

The Maharashtra drone mission aims to develop the state into a self-reliant global leader in drone technology. It brings together academic institutions, R&D institutes, industries, government, and youth to foster indigenous research development and large-scale commercialisation of drones and allied technologies.

Navigating the landscape of aerospace and defence in Hyderabad

Startups and MSMEs in Hyderabad are truly enriching the aerospace, defence, and space technology sectors. The Hyderabad edition of InnovateX featured leaders, startups, and key stakeholders from each industry.

The event was hosted in association with T-Hub, a premier innovation hub and startup ecosystem enabler based out of Hyderabad. T-Hub, a state government-run programme and the largest incubation centre in India, has actively engaged with over 2,000 startups and raised $1.94 billion in funding through programme startups.

An electrifying look at Chennai’s automotive ecosystem

For the final edition of InnovateX, MathWorks partnered with the Ministry of Electronics and Information Technology (MeitY) Startup Hub and the iTNT Hub. The focus of the event was accelerating growth in the automotive and electrification sectors by bringing together key startups, corporates, policymakers, and representatives from government and academia in one space.

MathWorks continues its commitment to uplifting and empowering startups through its Accelerator Program, where startups are treated as full commercial customers with technical and domain support and free access to cutting-edge software.

InnovateX, another wing of MathWorks’s efforts in the startup ecosystem, has helped the organisation build strong ties to regional startup communities across the country. It facilitates important connections, introduces new and advanced tools, and aids startups in building a bright future for Indian industries.  

MathWorks is pleased to announce the continuation of the InnovateX series in 2025, submit your interest to be the first to know about dates and details.