IIT Bombay’s SINE

Creating an incubator and accelerator to push startups to go the extra mile

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SINE, the technology business incubator at IIT Bombay was one of India’s first tech incubators. Since the incubator was hosted and set up like an academy, that drastically assisted the companies incubating within it. Obviously, they did not stay the way they were, and they kept advancing and making changes to their system, basically keeping up with the times. The incubator offers start-to-end support for technology startups, and has also received financial backing from several government departments.

The main person, and currently the CEO, behind the entire incubator has to be Poyni Bhatt. She has been working tirelessly on the incubator since 2004. Over this time, SINE has assisted more than 100 startups that have incubated through their premises. Obviously, most of them are still running, some of them have done a lot more than succeed, and have turned into big names. SINE has further worked out international partnerships with Russia and Switzerland to assist the incubating innovators and entrepreneurs.

Although she studied as a legal and compliance professional, fate had a different plan. She turned to the incubator by chance and began handling it like a pro. She has now been working with them for more than 3 decades. Furthermore, she works with Startups outside SINE as well, and on the rare occasion gives a talk or two as a guest lecturer on entrepreneurship.

Society for Innovation and Entrepreneurship (SINE) is hosted by IIT Bombay. They assist entrepreneurs and tech startups; get some standing which working on economic growth, strategic value and of social relevance.

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Currently, the incubation center holds about 41 incubates. They focus on broad spectrum technology for their incubation center. As far as their acceleration program goes, they works in the hardware, medtech, healthcare and social industry. They provide companies that are passing through their corridors, mentoring assistance. Further, they connect them with a wide range of experts who can assist and provide them the required know-how if they are not sure about their next step. They ideally focus on development, and making their product a success. They also work with their business strategy since this plays an important role as well. Finally, they work with the team to take their developed product to the market. Sometimes, they work on organizing events and meetups for Startups in the area as well.

Companies incubating through SINE get upfront cash assistance depending on the scale that they are working on. Further, they are provided with seed funding assistance too, directly from SINE.

Poyni Bhatt is glad to be part of a system where she can contribute directly to the Startup ecosystem in the country. This motivates her to assist to the best of her ability. Startups also receive proactive support from schemes by the Government, from other industries and from IIT Bombay, their main institute, which is a giant motivating factor for her to continue working with startups.

sineiitb.org

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