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Last Updated : Aug 10, 2019 06:44 PM IST | Source: Moneycontrol.com

IIT Bombay's SINE incubates 140 startups in 15 years

This year 2,603 degrees were awarded in the 57th convocation of IIT Bombay.

The Society for Innovation and Entrepreneurship (SINE) at the Indian Institute of Technology (IIT) Bombay has incubated 140 startups in the last 15 years.

Speaking during the 57th convocation ceremony, Subhasis Chaudhuri, Director, IIT Bombay, said that these startups gave birth to 360 entrepreneurs, who in turn created more than 3,600 employment opportunities.

SINE has been selected as 'Centre of Excellence' by the Department of Science and Technology, Government of India.

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This year, SINE has collaborated with healthcare solutions provider Sanofi, and has started mentoring eight startups in the healthcare space.

During the convocation, Chaudhuri said that they would expect the students to stay connected to their alma mater and help with its future development. In 2018-19, IIT Bombay received a total donation of Rs 36.71 crore from alumni and others.

A total of 2,603 degrees were awarded for 2018-19 and 385 PhD degrees.

Overall, Chaudhuri said that the emphasis is also to build partnerships with international institutes. In 2018-19, IIT Bombay signed 50 MoUs with various foreign universities.

A lot of emphasis is also being given to research and development (R&D) projects. The receipts for R&D projects during FY19 stood at Rs 332.82 crore.

In 2018-19, 388 long-term sponsored research projects worth Rs 214.6 crore were initiated, as compared to 303 projects a year ago. In FY19, 745 (703 in FY18) short-term consulting projects were initiated.

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First Published on Aug 10, 2019 06:44 pm

tags #Business #HR

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