SINE, Society for Innovation and Entrepreneurship, hosted by Indian Institute of Technology
Bombay- IIT Bombay
is an umbrella for promotion of entrepreneurship at IIT Bombay. SINE administers a business incubator
which provides support for technology based entrepreneurship. Thus, SINE extends the role of IIT Bombay
by facilitating the conversion of research activity into entrepreneurial ventures.
IIT Bombay, known as one of the best sources of technology innovation and research excellence in India, was an early adopter of the concept of business incubation in India. An IT business incubator was set up at Kanwal Rekhi School of Information and Technology, IIT Bombay in 1999.
The experiment has had manifold effects on the IIT Bombay campus. Apart from successfully incubating a number of companies, the presence of the Information Technology (IT) incubator also created an environment conducive to entrepreneurship. Students and faculty members started thinking of setting up ventures based on their own technologies and ideas. Encouraged by the success of the initial experiment, IIT Bombay set up a full fledged technology business incubator to cover other areas of science and technology.
Thus, SINE came into existence in 2004 to administer the business incubator and accelerate the growth of entrepreneurship in IIT Bombay. Since then it has served as a role model for other business incubators in academia across the country. The Department of Science and Technology of the Government of India has also provided financial assistance to the business incubator. The incubator, with infrastructure spread over 10000 sq.ft., can accommodate about 15-17 companies.