Software Technology Parks of India (STPI) and SINE – IIT – Bombay signs MoU to strengthen startup ecosystem
Mumbai: Software Technology Parks of India (STPI), an organisation under MeitY (Ministry of Electronics and Information Technology) has been working for 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- IIT Bombay on 12th October, 2021 for fostering entrepreneurship and nurturing tech start-ups. The signing of the MoU with SINE, IIT Bombay will strengthen the collaboration for leveraging the latter’s expertise & knowledge to empower startups incubated at STPI Motion, Pune, learn & 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 state-of-the-art incubation center along with 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.”
Society for Innovation and Entrepreneurship (SINE), IIT Bombay, setup in 2004, 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 which 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.”
STPI/STPINEXT has been constantly exploring associations with various partners from industry, academia, financial institutions, advisory bodies and experts to leverage their services, knowledge and expertise for bringing comprehensiveness to the service portfolio of the CoEs, and this MoU will deliver an all-embracing service to the incubated start-ups in the country.