MeitY Startup Hub CEO Madanagopal on powering India’s deeptech ecosystem

MSH CEO Panneerselvam Madanagopal lays out a bold roadmap to nurture deeptech startups in Tier II and III cities.

Apr 24, 2025 - 09:14

MeitY Startup Hub CEO Madanagopal on powering India’s deeptech ecosystem

India is home to more than 157,000 startups, making it the world's third-largest startup ecosystem. For Panneerselvam Madanagopal, CEO of the MeitY Startup Hub (MSH), who took over the role three months ago, the numbers aren't enough. He believes a shift from “volume” to “value” will put the ecosystem in high gear.

In a conversation with Shradha Sharma, Founder and CEO of YourStory, Madanagopal outlined his ambitious strategy to boost India's tech prowess. According to him, the country needs IP-driven product companies and a renewed focus on manufacturing.

“If you’re serious about software, you need to make your own hardware,” he quipped, echoing Apple’s vertically integrated approach.

From passion to purpose

Taking over as CEO just three months ago, Madanagopal immediately recognised that his role was not merely administrative—it was transformational.

“You have to win both the heads and hearts of your partners,” he said, emphasising the need for passionate engagement in the startup space.

MSH has since begun redefining its approach. No longer just an enabler, the hub now sees itself as the custodian of tech and deep tech innovation in India. With AI, deep tech, and semiconductors forming the core of MeitY’s strategic focus, MSH is poised to build a robust, future-ready startup ecosystem.

The four pillars of the MSH vision

Deep tech leadership: AI and deep tech are no longer buzzwords; they’re foundational to India’s next phase of growth. MSH is working to create comprehensive support structures for startups—from use cases to infrastructure, mentoring, and funding.
Built for Bharat: With 65+ incubators in Tier II and III cities, MSH’s GENESIS programme supports innovation beyond metro cities. This initiative provides up to Rs 1 crore in funding, mentorship, and even market access, ensuring grassroots innovators get the platform they need.
Inclusive tech: Madanagopal champions assistive tech—not just for the differently-abled but also for India’s aging population. Whether it’s voice-enabled services or geriatric tech, the goal is to make innovation accessible to all.
Women in deeptech: Moving beyond tokenism, MSH is creating capacity-building programmes for women to enter and lead in deep tech. “We’re not talking BPO jobs—we want women building hardcore tech products,” he asserted.

GENESIS: Fueling the next wave of innovation

GENESIS (Generating Entrepreneurship and Innovation in Startup India) is a flagship initiative aimed at seeding deeptech startups in non-metro cities. It includes three components:

Entrepreneur-in-residence: A Rs 10 lakh grant to ideate and build MVPs.
Matching funds: Up to Rs 50 lakh co-invested with market validation.
Scale capital: Up to Rs 1 crore support for deeptech ventures with long gestation periods.

The model ensures that innovation isn’t just funded—it’s mentored, nurtured, and connected to real-world markets and government demand. MSH is now moving toward creating patient capital, investing in strategic startups with a 5–10 year vision—something most VCs shy away from.

A life driven by purpose

Madanagopal’s story reflects India’s aspirational middle class. From juggling three jobs in Mumbai to becoming CIO of T-Hub and now helming MSH, his journey is fueled by a relentless drive to create value. “The dream changes,” he mused. “At first, it’s about proving yourself. Then, it’s about adding value. Now, it’s about impacting thousands—creating jobs, supporting dreams, building a better nation.”

Even today, he works 15 to 16-hour days, travels nonstop, and attends classes on agentic AI. What fuels him? Curiosity and the desire to empower.

The road ahead: MSH as India’s innovation backbone

In the next 12 months, MSH aims to:

Establish a national hub-and-spoke model, with regional offices in Bengaluru and beyond.
Onboard 5,000–10,000 startups from Tier II and III cities.
Launch India’s first startup-government demo days, connecting innovation to real procurement.
Expand corporate innovation programmes, ensuring startups find customers beyond government contracts.

In a country of 1.4 billion minds, Madanagopal’s vision is clear: build depth, scale dreams, and make innovation inclusive. With MSH now serving as the single-window gateway for MeitY’s startup ecosystem, India is poised to lead the next global wave of deep tech innovation.