In 1994, the TeNeT Group recognised the key role that companies focussed on product R&D in the IT area could play in India. However, very few companies were doing this. At the same time, many IITM alumni who had trained with the TeNeT faculty, and were in industry, were itching to get back to product R&D. When the corDECT WLL project was kicked off, some alumni decided to join this exciting new effort by forming a new company focussed on technology development. Thus was born Midas Communication Technologies in Chennai. Today, Midas employs about 700 highly skilled engineers, and develops state-of-the-art wireless, fibre and cable access systems

The second company to be incubated in this manner was Banyan Networks in 1996. Banyan focuses on DSL-based access systems and high-speed packet switching technology. Today, about a hundred engineers at Banyan represent a world-class competency in this area. The systems developed by Midas and Banyan are deployed in the telecom and Internet networks in India and several other countries. In 2004, Banyan was merged with Midas.

With the explosion in the number of active elements in the telecom and Internet networks, TeNeT faculty saw the need for a new paradigm in network management solutions. NMSWorks Software was promoted in partnership with Polaris Software to provide complete management solutions for convergent telecom operators. These are based on the CygNet NMS family of products.

Moving out from core telecom infrastructure, the TeNeT Group has recently incubated companies in Indian language application software (CK Technologies), low-cost rural ATM machines (Vortex Engineering), tele-medicine kits (NeuroSynaptics) and inexpensive Internet terminals (Novatium Solutions).

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