society for innovation & entrepreneurship
TRANSCRIPT
SOCIETY FOR INNOVATION &ENTREPRENEURSHIP
Poyni Bhatt
CEO
Technology Business Incubator hosted by IITB, set up as a non-profit entity in 2004
Preference for intellectual property based companies, IITB linkage
Functional autonomy under its ownGoverning Board. Board members are fromIITB academia and industry experts
Basis for incubation: Potential to create economic growth, strategic and social value
SINE Background
Timeline
2000-2004 2004-2015 2016-presentPilot Incubator - IT/ ITES based Product based (S/W and H/W)
Seed FundingPilot PoC funding
Accelerator programs : Plugin, SCubeCorporate engagement: Intel, SAP, ONGCPoC grant: NIDHI PRAYASCross border programs: AIT, IRBI
- Alumni engagement- Institutionalized incubation &
processes.
- Entrepreneurship within campus.- Govt. came forward to support.
- CoE Award: DST- Start-to-end support- Fellowship: NIDHI EIR
13 companies incubated - 77 Companies incubated - 6 PoC support
- 116 Incubation, acceleration- 16 PoC support- 4 Cross border programs: 40
Innovators, entrepreneurs
Academia industry training
Hackathons Cross Border Programs
Programs
• Terms favorable to entrepreneurs• Operationally self-sustained using current revenue
model
Equity (single digit)
(1.5-5%)Subsidized Rent
Revenue Share
(1.5-3%)
Incubation Benefits & Terms
Incubator as an enabler
• Entrepreneur with a right attitude, complementary skills, technology differentiationSelect
• Team structuring, capital structuring, business model, revenue model…Coach
• Investors, market, experts, mentors, designers, manufacturers...Network
• Conducive environment, Incubation support and EcosystemCreate
Incubator team plays a key role
Selection process
Application Received
Internal Review
External Review
Incubation
Pre- Incubation
SINE: 3 level screening process
StartupEnablers
Ecosystem
Govt. Initiatives
Academia Corporates
Tradebodies
Peer to peer
learning
Globalmobility
Culture &
Mindset
Technical skills
Funders
MATURE ECOSYSTEM
IITB Entrepreneurial Ecosystem
SINE
IRCC
Core Research Groups
Applied Research Groups
Student initiatives
Research Park
Academic Initiatives
10,000+ students on roll(3019 B Tech, 1127 DD, 2961
Masters, 2899 PhD )
130+ Post-doctoral fellows 1358 Project staff (Technical)
26 Academic Units 19 Research Centres
600+ full-time faculty100+ part-time faculty
Indian Institute of Technology BombayEstablished 1958Institute of National Importance
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%
Hardware – 9%
Healthcare – 14%
Education – 4%
CleanTech/ Energy – 8%
FinTech – 4%
Mechatronics – 8%
IoT -10%
Media – 4% Other – 9%
GovtPrograms
• Prototyping grant up to Rs. 10 lakhs
• Access to infrastructure, mentorship
• Co-working spaces
Enquiry: [email protected]
• Grant support of Rs.10-30,000/- p.m.
• Guidance on business concept, strategy.
• Co-working spaces
Enquiry: [email protected]
Govt schemes
• 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
40 current 39 Graduated & Operational
15 Merged/ Acquired 22 Folded
Cumulative numbers
GOVT. CORPORATE ACADEMIC INTERNATIONALCSR FUNDING INVESTORS
Collaborations
Impact
Direct impact:116+ companies incubated
~3,000 Jobs created during incubation330 Entrepreneurs/Co-founders 28 IP from IITB commercialized26 Firms with social/environment impact11 Firms with indigenisation/strategic value
Indirect impact:Policies & procedures emulated as benchmarkCluster emerging in PowaiTraining & networking events
Revenues of incubatees~$150M Trailing 5yr cumulative revenue (all cos.)
Funding raised by incubatees39 Co.s funded by Angels/VCs27 Co.s funded by bank, Govt.~$155M+ external funds raisedRatio SINE: External funding = 1:150+
Future – Centre of Excellence
Proposed building (Floors 5,6,7 for SINE)
www.sineiitb.org