STPI and SINE - IIT Bombay to strengthen startup ecosystem

Partnership will strengthen the collaboration for leveraging expertise & knowledge to empower startups incubated at STPI Motion.

Software Technology Parks of India (STPI), an organisation under MeitY (Ministry of Electronics and Information Technology) has been working on the creation of start-up ecosystems in the country and creating 25 Centres of Entrepreneurship (CoEs) in emerging technologies. STPI and AIC STPINEXT INITIATIVES (STPINEXT) have signed tripartite non-financial MoU with SINE- Indian Institute of Technology (IIT) Bombay for fostering entrepreneurship and nurturing tech start-ups.

The signing of the MoU with SINE (Society for Innovation and Entrepreneurship), IIT Bombay will strengthen the collaboration for leveraging the latter’s expertise & knowledge to empower startups incubated at STPI Motion, Pune, learn and garner experience to scale up their ventures.

STPI MOTION, Pune is a domain-specific state-of-the-art facility for startups working in Autonomous, Connected, Electric and Shared (ACES) Mobility at Pune. Setup by STPI, the CoE is having a state-of-the-art incubation centre along with a physical laboratory in ACES and provides the necessary support like training, mentoring, marketing, access to funding resources, IPR/ patenting assistance and other requisite support to the startups working in this domain.

Speaking on the occasion Dr Omkar Rai, DG, STPI highlighted: “The signing of MoU between STPI, STPINEXT and SINE, IIT Bombay will further strengthen collaborations among various stakeholders. Start-ups incubated at MOTION CoE can hugely leverage the expertise and domain knowledge of SINE to rise the value chain.”

SINE is one of the earliest incubators in academia which provides ‘start to scale’ support for technology-based entrepreneurship and facilitates the conversion of research activity into entrepreneurial ventures. It is an umbrella organization at IIT Bombay for fostering entrepreneurship and nurturing tech start-ups. It administers a business incubator that provides ‘Start to scale’ support for technology-based entrepreneurship and facilitates the conversion of research activity into entrepreneurial ventures.

Speaking on the occasion Prof. Subhasis Chaudhuri, Director of IIT Bombay said, “The journey we are beginning today is a notable step towards strengthening the startup ecosystem in the country and enabling startups to leverage the benefits while they are getting incubated and beyond when they want to transform their successful incubation into a business venture.”

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