- SINE, IIT Bombay marks 20 years, supporting 1,000+ entrepreneurs, incubating leaders like Gupshup and IdeaForge, with a portfolio valued at $3.56 billion.
- Focused on Medtech, Clean Energy, and Agritech, SINE drives innovation with 300+ IPs, creating national and societal impact.
- A trusted partner for government and industry, SINE bridges academia and market needs, enabling transformative tech ventures.
Mumbai, 21st November 2024: The Society for Innovation & Entrepreneurship (SINE), the Technology Business Incubator of the Indian Institute of Technology Bombay (IIT Bombay), is marking its 20th anniversary with a two-day event, “Innovation Nation: Leveraging India’s Talent and Entrepreneurial Spirit in the Era of Disruptive Technologies”. Scheduled for the 28th and 29th of November, the event will feature leading entrepreneurs, senior bureaucrats, and corporate executives engaging in thought-provoking discussions on how India can spearhead global innovation by harnessing its unique talent pool and entrepreneurial drive.
Bridging Academia and Industry “Our mission at SINE has always been to bridge the gap between academia and the market, fostering an entrepreneurial mindset among students, researchers, faculty, and alumni,” said Professor Milind Atrey, Deputy Director (Academics, Research, and Translation) at IIT Bombay. “We focus on supporting early-stage tech startups, especially in product hardware, where market evolution and challenges are significant.”
Impressive Impact and Start-Up Survival Since its inception, SINE has achieved an impressive start-up survival rate of over 80%, far exceeding the industry average of 20%. “SINE-incubated startups have generated over 300 intellectual properties across critical sectors like ICT, healthcare, cleantech, and industrials. Many of these startups have grown to become industry leaders,” said Professor Santosh J. Gharpure, Professor-in-Charge at SINE.
Landmark Success Stories SINE stands out as the first academia-backed incubator to produce a unicorn—Gupshup, an AI-powered messaging platform—and to launch a company on the BSE and NSE—IdeaForge, India’s leading drone manufacturer. Other notable alumni include:
- Atomberg: Energy-efficient BLDC tech-based fans
- Sedemac: Advanced control systems for two-wheelers
- ImmunoACT: Genetically modified cancer immunotherapy
- SAFE Security: Cyber risk management
- Zeus Numerix: India’s first producer of smart and autonomous guided munitions
Funding and Market Leadership SINE’s strategic early-stage funding has been instrumental in helping startups navigate the “valley of death.” For every ₹1 invested, SINE’s startups have raised ₹190 in external capital, achieving a combined valuation exceeding $3.56 billion. “Our funding support is crucial for startups tackling complex, IP-based challenges that often face hurdles in a service-driven funding ecosystem,” said Shaji Varghese, CEO of SINE.
Driving Economic and Social Impact SINE-backed startups have not only driven economic growth but also created significant social impact in sectors like Medtech, Clean Energy, Agritech, and Mobility. “We prioritize startups with the potential to deliver economic, social, or strategic national value,” added Varghese.
Key Partnerships and Ecosystem Support SINE is a preferred partner for several government ministries and corporate giants across IT, aerospace, defense, and BFSI sectors. As the Program Management Unit for DST’s NIDHI PRAYAS, SINE has supported over 50 incubators nationwide, amplifying its reach and influence.
Future-Ready Innovation IIT Bombay’s recent ₹500 crore investment in cutting-edge research facilities will enhance SINE’s ability to foster innovations in emerging areas like semiconductors, quantum computing, electric mobility, and space technology. “These research initiatives will create a strong pipeline of ideas ready to be transformed into bankable ventures,” said Professor Atrey.
Building India’s Innovation Nation With 20 years of pioneering incubation experience, SINE remains committed to empowering transformative startups that contribute to India’s self-reliance and global leadership in innovation. “SINE continues to support startups solving complex challenges, helping build an India that is truly an ‘Innovation Nation,’” concluded Professor Gharpure.
For more information about SINE, visit sineiitb.in.
