RT team
The Society for Innovation and Entrepreneurship (SINE), IIT Bombay’s in-house startup incubator, is gearing up to launch a ₹100-crore venture capital fund to back deep-tech ventures and startups addressing national priorities. Leveraging the institute’s extensive alumni network, this initiative aims to provide seed funding to startups nurtured within SINE.
As SINE marks its 20th anniversary, it unveiled a strategic roadmap for the next decade. Over the past two decades, it has supported 245 startups, which collectively secured $942 million in funding and are now valued at $3.56 billion. This new fund is set to drive innovation in fields like biotech, space, defense, and other critical sectors.
SINE plans to approach IIT Bombay alumni, many of whom are industry leaders, to raise contributions for the fund once regulatory approvals are secured. Shaji Varghese, SINE’s CEO, highlighted the need for patient investors given the long development cycles of tech products. He drew parallels with similar university-driven initiatives abroad, emphasizing alumni support.
Currently incubating 81 startups, SINE offers resources like shared workspaces, prototype labs, high-end IIT Bombay facilities, technical mentorship, and funding access. With a startup survival rate of over 80%, SINE has also collaborated with government ministries and corporates in sectors such as aerospace, IT, and defense.
Professor Santosh J. Gharpure noted that SINE-incubated startups have generated over 300 intellectual properties across ICT, healthcare, and cleantech. Deputy Director Milind Atrey added that IIT Bombay’s ₹500-crore investment in cutting-edge research facilities will foster innovation in semiconductors, quantum computing, and electric mobility, fueling future ventures for SINE.
