IIT Bombay incubator to scale startup support, launch Rs 100 Cr VC fund

IIT Bombay’s incubator, SINE, plans to launch a ₹100 crore venture capital fund to support deep tech startups in sectors like biotech, space, defense, and sustainability. The fund aims to back 1,000 startups over the next decade, significantly expanding from the 245 startups supported in the past 20 years. SINE has an 80% survival rate for its incubated startups, which have collectively raised $942 million and are valued at $3.56 billion. The fund will receive backing from IIT Bombay alumni and aims to drive innovation in critical sectors. SINE’s notable startups include Gupshup, IdeaForge, and Atomberg, among others.