The Indian Institute of Technology Bombay said its incubator has launched a national network for startup institutions, with Nagpur as the first region and access to research, mentoring and investment resources as its aim.
The Oct. 12 gathering at Visvesvaraya National Institute of Technology (VNIT) brought together representatives from 10 institutions and associated incubators. Those named by IIT Bombay included VNIT, the All India Institute of Medical Sciences in Nagpur and the Indian Institute of Information Technology, Nagpur. The Society for Innovation and Entrepreneurship (SINE) and VNIT Ventures Vault Foundation (V3F) signed a memorandum of understanding. IIT Bombay described it as the network’s first institutional partnership.
In the proposed structure, SINE would provide incubation frameworks, portfolio management practices, mentoring, programme management expertise and investment and network connections. Partner institutions would contribute local facilities, research capabilities, specialist laboratories, domain expertise and links to regional industries. IIT Bombay says the arrangement could help startups reach capabilities beyond their own institutions and explore co-incubation.
Participants identified gaps in access to early-stage investors, specialist mentors, technology commercialization support, structured incubation practices and collaborative funding networks. Potential areas for joint work include deep technology, health care and medical technology, agriculture, food processing, manufacturing, mining, veterinary sciences and fisheries.
IIT Bombay said the next phase would include settling partnerships, arranging shared incubation and identifying candidate startups for pilot projects. The institute also expects regular coordination, with proposed monthly incubator meetings, institutional visits and knowledge-sharing seminars. It did not specify dates for these steps or name another region.
Established in 2004, SINE has supported more than 500 startups, IIT Bombay says. The institute describes the network as a formal structure for support SINE previously provided informally to incubators and institutions. Prof. Nishant Sharma, Professor-in-Charge, SINE, IIT Bombay, called Nagpur “our first step.”
