Monash University and IIT Bombay’s SINE Sign MoU to Boost Startups and Innovation Between India & Australia
India, which is the 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 combines the strengths of both ecosystems, creating a bridge for startups to access global markets.
Monash University (Australia) and the 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.
The MoU was signed by Professor Craig Jeffrey, Deputy Vice-Chancellor (International), Monash University, and Professor Shireesh Kedare, Director, IIT Bombay.
Key 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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The cutoff trend for B.Tech at IIT Bombay - Indian Institute of Technology has been decreasing in the recent years. In 2021, the closing rank for B.Tech. under general category for all India quota was 434. In 2022, it decreased to 369. Likewise, the cut off ranks have changed from 274 to 304 for OBC, 128 to 135 for SC, 80 to 102 for ST, 117 to 114 for EWS, 52 to 38 for PWD. This trend is likely to continue in the coming years, as the demand for engineering education in India continues to grow. Similar cut off trend can be seen for female candidates under all categories however the ranks are slightly different.
Below is the comparison of MBA courses offered by top IITs based on various parameters:
| MBA Institutes | NIRF Ranking (2023) | Total Tuition Fee* |
|---|---|---|
| IIT Bombay | 10 | INR 8 Lacs - INR 20 lakh |
| IIT Kharagpur | 14 | INR 3 Lacs - INR 25 lakh |
*The fee is taken from an unofficial source. Hence, is indicative.
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