Image Credit: SINE IITB

IIT Bombay’s Society for Innovation and Entrepreneurship (SINE), a trailblazer in India’s incubation ecosystem, is set to transform the startup landscape with its plan to launch a Rs. 100 crore venture capital fund. This bold initiative is designed to fuel the growth of deep tech startups tackling critical challenges of national importance and laying the foundation for India’s innovation-driven future.

With a vision to scale its operations and support 1,000 startups over the next decade, SINE’s venture fund marks a groundbreaking step. This fund will address a significant gap in financing early-stage, deep tech ventures, particularly those requiring longer gestation periods. SINE’s deep understanding of the unique needs of such startups positions it as an ideal catalyst for nurturing transformative ideas.

Mr. Shaji Varghese, CEO of SINE, described the initiative as a potential “game-changer,” highlighting its goal to unite like-minded investors committed to fostering innovation. “Traditional VC funds often shy away from deep tech startups due to their extended timelines. Our fund will help bridge this gap and drive critical advancements in sectors like ICT, healthcare, and cleantech,” he noted.

Celebrating its 20th anniversary, SINE has already supported 245 startups, which have collectively raised $942 million and achieved a valuation of $3.6 billion. The incubator has been instrumental in launching industry-leading ventures, with notable successes such as Gupshup, the first unicorn from an academic incubation ecosystem, and ideaForge, a drone manufacturing company that became a publicly listed entity. ImmunoACT, another spin-off, has pioneered indigenous cancer therapies, showcasing SINE’s impact on high-impact innovation.

Currently, 81 startups are incubated at SINE, which has also facilitated the generation of over 300 intellectual properties across diverse industries. This robust portfolio underscores SINE’s pivotal role in advancing India’s entrepreneurial and technological prowess.

SINE’s influence extends beyond its startups, shaping the entrepreneurial spirit at IIT Bombay. Prof. Milind Atrey, Deputy Director (Academics, Research and Translation), emphasized that SINE entrepreneurs serve as role models for students. He urged students to prioritize entrepreneurship, positioning it as a pathway for societal impact and innovation.

IIT Bombay’s School of Entrepreneurship further strengthens this ecosystem by offering specialized programmes that empower students across disciplines to embrace entrepreneurial opportunities.

In recognition of its 20 years of groundbreaking achievements, SINE is hosting a two-day event titled Innovation Nation: Leveraging India’s Talent and Entrepreneurial Spirit in the Era of Disruptive Technologies. The event aims to spotlight India’s potential as a global innovation hub and inspire the next wave of trailblazing startups.

As SINE embarks on this ambitious journey, its new venture fund reinforces IIT Bombay’s commitment to driving technological progress, nurturing talent, and empowering India’s deep tech ecosystem for decades to come.

Read more about this here:

Indian Express
The Economic Times
Hindustan Times
The Times of India

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