IIT Bombay partners with private foundation to boost deep-tech innovation, student entrepreneurship

Mumbai: The Indian Institute of Technology Bombay (IIT Bombay) on Wednesday announced a partnership with Groww Foundation to accelerate deep-tech innovation and enhance the translational research ecosystem. The initiative will be anchored within the Desai Sethi School of Entrepreneurship (DSSE) at IIT Bombay, leveraging its dynamic ecosystem to provide early-stage teams with the infrastructure, mentorship, and structured evaluation systems, the institute said in a statement.

IIT Bombay Director Prof Shireesh Kedare noted the partnership reflects the institute's commitment to nurturing innovators. "This partnership with Groww Foundation represents a significant step in strengthening India's deep-tech innovation pipeline. By bringing together structured programmes and a dedicated innovation space, we are creating a comprehensive pathway for students to translate ideas into solutions.

This collaboration reinforces IIT Bombay's commitment to nurturing technologically skilled and socially conscious innovators," Kedare maintained. As part of the collaboration, the Groww Innovation Space - a state-of-the-art 15,000 sq ft facility- will be located in the DSSE building.

Over a period of four years, student-faculty teams will receive funding and sustained guidance from faculty and mentors, with high-performing interdisciplinary student teams gaining potential access to support for incubation.

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The programme will provide development support to approximately 100 teams each year as part of their entrepreneurship and capstone coursework, enabling nearly 400 teams over four years to build, test, and refine their solutions, according to the statement. "Our partnership with IIT Bombay's DSSE is designed to unlock the full potential of aspiring student innovators by providing them with the resources and mentorship needed to transform bold ideas into impactful ventures.

Together, we aim to build a thriving ecosystem that not only nurtures deep-tech solutions but also contributes to sustainable and inclusive growth across multiple sectors," Groww Foundation Head Kalpana Swaminathan added.