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Mahindra Group Chairman Anand Mahindra has praised the Indian Institute of Technology (IIT) Madras startup that is developing an electric flying taxi, saying that the institution has become one of the world's most "exciting and active incubators".

"A company is being incubated at IIT Madras to build a flying electric taxi by sometime next year," Mahindra posted on X.

Thanking the institution, he further said that with the rapidly growing number of ambitious incubators throughout India, "we're no longer seen as a country that lacks genuine innovators".

"Audacious aspirations matter. Accept no limits," Mahindra wrote.

Since being shared, his post has been viewed by more than 190K times. Several users also shared their thoughts in the comments.

"Exciting times, this is audacious thinking taking root. With our immense talent pool and a supportive environment, Indian innovators are truly taking flight," a user wrote.

"India's incubators are hatching the future, and IIT Madras is leading the charge with their electric flying taxi project. This is the kind of innovation that puts a country on the map and inspires the next generation of dreamers and doers," another user said.

Earlier this week, IIT Madras said that it raised an all-time high amount of Rs 513 crore in funding from its alumni, industry and individual donors during the financial year 2023-24.

The institute also attracted total new pledges of Rs 717 crore from alumni and corporate partners during FY24.