IoT Reality & Way Ahead: Incubators for Hardware, IoT Startups by Poyni Bhatt, SINE - IIT Bombay at IoTNext 2016

1. IOT REALITY & WAY AHEAD:
INCUBATORS FOR HARDWARE, IOT STARTUPS
IoTNext 2016SINE, IIT Bombay

2. SINE, IIT Bombay
• Since 2004, not for profit entity
• One of the early adopters of incubators in academia
• Business Incubation:
• Technology
• Bio-Medtech
• Basis for incubation: Potential to create economic growth, strategic value,
socially relevant products
• Preference for IP/ product based companies with an IITB component
• Collaborative accelerators with Industry:
• Hardware & system startups with Intel India
• Impact startups with SAP India
• Idea to prototype support for innovators

3. Entrepreneurial Ecosystem
SINE
Research &
Industry
Projects
Academic
Programs
Healthcare
consortium
Medical
Device
group
Tata Centre:
Frugal
Innovation
Ecell

4. SINE, IIT Bombay
• Support entrepreneurship on
the campus
• Leverage tec hnology
resources and expertise in
the institute
• IP/ Technology conversion
into ventures
• Mechanism for faculty
participation in startups
• Ecosystem benefits
INFRASTRUCTURE
• Work offices,
conference rooms
• Labs & Prototyping
facilities
FUNDING
• Seed funds
• Govt. Grants
• Angels & VCs
NETWORK
• Tech, Domain,
Business mentors
• industry connect
PEOPLE
• Functional Experts
service, Student,
Faculty talent
• IITB/SINE Alumni
VISIBILITY
• Events
• Media 3 years

5. Impact
Precedents in academia: equity, sustainability, incubation framework
85cos. incubated
since pilot
Current: 28
Graduated/
acquired: 37
Folded: 20
2,000 + jobs created during
incubation
40cos. Funded by
Angels/ VCs.
USD 75k to >25mn
16cos. Funded
by Bank/ Govt.
IITB IP commercialized 25
Faculty involved startups 21
Companies with social innovation 05
Equity returns (Partial)

6. incubatees
Ideaforge Technology:
Netra: The only indigenous UAV supplying to
Indian security forces
Sizeable order book for next several years
Sedemac Mechatronics:
Product: Low cost controls for small engines
Customers: TVS Motor Company, Bajaj Auto, Mahindra Two Wheelers,
Ashok Leyland, Kirloskar Oil Engine, Cummins, Mahindra Powerol
Investors: Nexus Venture Partners, IIF, Nandan Nilekani

7. incubatees
Covacsis: IoT, Big Data
Real Time Plant Analytics Framework
Customer sectors: Pharma, Textiles, Petroleum, Chemical
Investors: Bloom Venture, Reliance- GenNext, CISCO Systems
ThinkLABS:
Hands on education in STEM: robotics and
science products
Acquired by a leading education company

8. incubatees

9. More during discussion