IIT Bombay Incubator Plans Rs 100-Crore VC Fund

IIT Bombay's Society for Innovation and Entrepreneurship (SINE) plans to launch a Rs 100-crore venture capital fund aimed at supporting emerging deep tech startups in critical sectors such as science, biotechnology, space, and defense. This initiative, coinciding with SINE's 20th anniversary, aims to increase the number of startups it supports from 245 to over 1,000 within the next decade. SINE boasts a robust track record, having assisted 245 startups that collectively raised $942 million and are valued at $3.56 billion, with a survival rate exceeding 80%. The fund will specifically target ventures requiring long gestation periods, and SINE plans to engage its extensive alumni network for fundraising after securing regulatory approvals. This move marks a significant step in evolving India's startup ecosystem, aiming to provide essential support to innovative tech ventures. The anticipated fund is seen as a pivotal development for SINE's ambitious growth strategy.