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.

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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