SOCIETY FOR INNOVATION & ENTREPRENEURSHIP Poyni Bhatt CEO
SINE Background Functional autonomy under its own Technology Business Incubator hosted by IITB, Governing Board. Board members are from set up as a non-pro fit entity in 2004 IITB academia and industry experts Preference for intellectual property based Basis for incubation: Potential to create companies, IITB linkage economic growth, strategic and social value
Timeline 2000-2004 2004-2015 2016-present Pilot Incubator - IT/ ITES based Product based (S/W and H/W) Accelerator programs : Plugin, SCube Seed Funding Corporate engagement : Intel, SAP, ONGC Pilot PoC funding PoC grant : NIDHI PRAYAS Cross border programs : AIT, IRBI - Entrepreneurship within campus. - Alumni engagement - CoE Award: DST - Govt. came forward to support. - Institutionalized incubation & - Start-to-end support - Fellowship: NIDHI EIR processes. - 116 Incubation, acceleration 13 companies incubated - 77 Companies incubated - 16 PoC support - 6 PoC support - 4 Cross border programs: 40 Innovators, entrepreneurs
Programs Academia industry Hackathons Cross Border training Programs
Incubation Benefits & Terms • Terms favorable to entrepreneurs • Operationally self-sustained using current revenue model Revenue Share (1.5-3%) Equity (single digit) Subsidized (1.5-5%) Rent
Incubator as an enabler • Entrepreneur with a right attitude, complementary Select skills, technology differentiation • Team structuring, capital structuring, business Coach model, revenue model… • Investors, market, experts, mentors, designers, Network manufacturers... • Conducive environment, Incubation support and Create Ecosystem Incubator team plays a key role
Selection process SINE: 3 level screening process Incubation Pre- Incubation Application Internal External Received Review Review
Ecosystem Startup Govt. Academia Corporates Enablers Initiatives Culture Trade MATURE ECOSYSTEM & bodies Mindset Peer to Global Technical Funders peer mobility skills learning
IITB Entrepreneurial Ecosystem IRCC Indian Institute of Technology Bombay Established 1958 Institute of National Importance Core Academic Research Initiatives Groups 10,000+ students on roll 130+ Post-doctoral fellows SINE (3019 B Tech, 1127 DD, 2961 1358 Project staff (Technical) Masters, 2899 PhD ) Applied Research Research Park Groups Student 26 Academic Units 600+ full-time faculty initiatives 19 Research Centres 100+ part-time faculty
IRCC • Technology transfer • IP licensing • Patent analysis of existing IP at the institute
BETiC • Biomedical Engineering and Technology (Incubation) Center • Prototyping lab facility • Focus on applied research • 2 companies incubated at SINE
WRCB • Wadhwani Research Centre for Bioengineering • Focus on cross-disciplinary applied research projects
Tata Centre • Focus on frugal innovation • Prototyping lab facility
Student bodies • ECell • EClub • STAB • RSF • Tinkerers Lab
Prototyping facility • SINE Prototyping lab • Department facilities • Tata Centre • SAIF
SINE Portfolio - Internship ICT – Software – 30% Healthcare – 14% IoT -10% Hardware – 9% CleanTech/ Energy – 8% Mechatronics – 8% Education – 4% FinTech – 4% Other – 9% Media – 4%
GovtPrograms • Prototyping grant up to Rs. 10 lakhs • Grant support of Rs.10 - 30,000/ - p.m. • Access to infrastructure, mentorship • Guidance on business concept, strategy. • Co-working spaces • Co-working spaces Enquiry: nidhi-pc@sineiitb.org Enquiry: nidhieir-pep@sineiitb.org
Govtschemes • BIRAC • BIG – (Biotechnology Ignition Grant) • SBIRI (Small Business Innovation Research Initiative) • BIPP (Biotechnology Industry Partnership Programme) • DST – Academia Industry Training (AIT) Program • Meity – IIPME
Plugin –Accelerator program 19
Impact 116 cos in various domains 39 Graduated & 15 Merged/ 40 current 22 Folded Operational Acquired Cumulative numbers
Collaborations CORPORATE CSR FUNDING GOVT. ACADEMIC INTERNATIONAL INVESTORS
Impact Revenues of incubatees Direct impact: ~$150M Trailing 5yr cumulative 116+ companies incubated revenue (all cos.) ~3,000 Jobs created during incubation Funding raised by incubatees 330 Entrepreneurs/Co-founders 39 Co.s funded by Angels/VCs 28 IP from IITB commercialized 27 Co.s funded by bank, Govt. 26 Firms with social/environment impact ~$155M+ external funds raised 11 Firms with indigenisation/strategic value Ratio SINE: External funding = 1:150+ Indirect impact: Policies & procedures emulated as benchmark Cluster emerging in Powai Training & networking events
Future – Centre of Excellence Proposed building (Floors 5,6,7 for SINE)
www.sineiitb.org
Recommend
More recommend
