SINE at IIT Bombay to Launch INR 100 Cr VC Fund for Deep-Tech Startups The fund will focus on science, biotech, space, defense, and other national priority sectors to drive innovation.
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The Society for Innovation and BIZ Experiencesship (SINE), the in-house startup incubator at the Indian Institute of Technology (IIT) Bombay, has announced plans to establish an INR 100 crore Venture Capital (VC) fund.
This initiative aims to bolster deep-tech startups and those operating in areas of national importance. The fund, once regulatory approvals are secured, will seek contributions primarily from IIT Bombay alumni—many of whom are industry leaders.
This development builds on SINE's stellar 20-year legacy, having supported 245 startups with a collective valuation of USD 3.56 billion and total funding of USD 942 million. The fund will focus on science, biotech, space, defense, and other national priority sectors to drive innovation.
"SINE has incubated startups that have generated over 300 intellectual properties across critical sectors like ICT, healthcare, cleantech, and industrials. Several of these startups have grown into industry-leading companies," said Professor Santosh J Gharpure, Professor-in-Charge, SINE.
A Legacy of Innovation and Success
SINE has been instrumental in nurturing industry-leading ventures, including India's first academia-backed unicorn, Gupshup, and IdeaForge, the leading drone manufacturer listed on the BSE and NSE. Other notable alumni include:
- Atomberg: Innovators in energy-efficient BLDC fans.
- ImmunoACT: Developers of genetically modified cancer immunotherapy.
- SAFE Security: Experts in cyber risk management.
- Zeus Numerix: Creators of India's first smart autonomous guided munitions.
With a focus on early-stage tech startups, particularly in hardware and product innovation, SINE bridges the gap between academia and the market. Its comprehensive ecosystem provides startups with access to workspaces, prototype labs, mentoring, technical expertise, and high-end IIT Bombay labs, creating an environment conducive to innovation.
Driving Economic and Social Impact
Beyond its economic contributions, SINE's startups have delivered a profound social impact in medtech, clean energy, sustainability, agritech, and mobility. Startups such as Lifespark Technologies, addressing mobility solutions for Parkinson's patients, and SustLabs, focused on sustainable energy technology, exemplify this dual impact.
"At the time of incubation, we select startups on the basis of either economic, social or national strategic standpoint," says Shaji Varghese, CEO, SINE.
This approach has made SINE the preferred partner for several central ministries, including the Department of Science and Technology (DST), Ministry of Electronics and Information Technology, and Ministry of Defence, among others.
A Visionary Investment in Research and Development
IIT Bombay has further strengthened its ecosystem by investing INR 500 crore to create state-of-the-art research facilities. These will focus on emerging areas such as semiconductors, quantum computing, electric mobility, and space technology, providing a robust pipeline of research ideas for SINE to transform into viable ventures.
Professor Milind Atrey, Deputy Director (Academics, Research, and Translation) at IIT Bombay, underscores the institute's commitment to fostering BIZ Experiencesship. "We want SINE BIZ Experiencess to be role models for our students. BIZ Experiencesship should be their first priority, with placements being secondary," he noted.
Building the Future of India's Innovation Ecosystem
SINE's impact extends beyond its campus. It claims to have mentored over 60 incubators nationwide under government initiatives and serves as the Programme Management Unit for DST's NIDHI PRAYAS. Its influence has shaped India's startup ecosystem, which was nascent when SINE began its journey.
From AI-powered voice platforms like Babblebots.ai to genomics-driven clinical solutions from Haystack Analytics, SINE continues to drive industry-academia collaboration while fostering groundbreaking ventures.
As it embarks on this ambitious INR 100 crore VC fund, SINE is poised to redefine the trajectory of India's startup ecosystem, driving innovation in areas of strategic national importance and creating a legacy of transformative BIZ Experiencesship.
