Monash University and IIT Bombay’s SINE Sign MoU to Boost Startups and Innovation Between India & Australia
This partnership combines strengths of both ecosystems (India and Australia), creating a bridge for startups to access global markets.
Monash University (Australia) and Society for Innovation and Entrepreneurship (SINE) at Indian Institute of Technology Bombay (IIT Bombay) have signed a five year Memorandum of Understanding (MoU) to accelerate innovation and startup growth across both nations.
Highlights of Monash–IIT Bombay Partnership
As per IIT Bombay, the focus Areas Deep tech, climate tech, health and medtech, clean energy, and advanced manufacturing. Collaboration will provide shared access to labs, mentoring, founder exchange programs, and networking with global investors. Indian startups will benefit from Australia’s R&D depth, while Australian startups can leverage India’s scale and agility. Supports 20+ startups annually; $980M spinout capital raised in 5 years.
A statement reads, India has world’s 3rd-largest startup ecosystem with 110+ unicorns and 1,500+ incubators, while Australia is rapidly growing with $4B+ raised by startups in the year 2024. This partnership between two institutions combines the strengths of both ecosystems, creating a bridge for startups to access global markets.
Commonly asked questions
IIT Bombay BTech batch placement record over the past three years is presented here:
Particulars |
BTech Placement Statistics (2022) |
BTech Placement Statistics (2023) |
BTech Placement Statistics (2024) |
|---|---|---|---|
Registered students |
657 |
791 |
930 |
Participated students |
566 |
679 |
819 |
Students placed |
544 |
598 |
683 |
Placement percentage |
96% |
88% |
83.39% |
During the IIT Bombay 2026 placements, 42 companies visited and made 98 offers on the first day. The highest international package offered was around INR 1.5 Crore per Annum.
Further, accroding to the SJMSOM final placement report 2026 for MBA program, 100% placement was recorded in 2026. The highest and average package recorded during IIT Bombay MBA placements 2026 was INR 53.8 LPA and 28.16 LPA.
Both IIT Bombay and NIFT Mumbai are recognised for their BDes course. For better comparison, below are some parameters to compare BDes programme of both the institutes:
| Parameter | IIT Bombay | NIFT Mumbai |
|---|---|---|
| Total tuition fee* | INR 8 Lacs - INR 11.6 lakh | INR 5.6 Lacs - INR 11.7 lakh |
| Overall NIRF Ranking 2023 | 4 | NA |
| Specialisation | Industrial Design, Communication Design, Animation, etc. | Fashion Design, Fashion Communication, Textile Design, etc. |
| Selection criteria | UCEED | NIFT Entrance Exam |
*The fee is taken from an unofficial source. Hence, data might vary.
Professor Adrian Neild, Director of Monash Innovation Labs, emphasized that the partnership would help researchers and startups scale internationally, while IIT Bombay’s Deputy Director Prof. Milind Atrey highlighted that incubators like SINE play a critical role in early-stage startup growth.
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Abhay Anand is an experienced education journalist with over 15 years in print and digital media. Currently serving as Manager- Editorial at Shiksha.com, he specializes in higher education policy, student mobility,
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