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IoT Reality & Way Ahead: Incubators for Hardware, IoT Startups


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

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IoT Reality & Way Ahead: Incubators for Hardware, IoT Startups

  2. 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. 3. Entrepreneurial Ecosystem SINE Research & Industry Projects Academic Programs Healthcare consortium Medical Device group Tata Centre: Frugal Innovation Ecell
  4. 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. 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. 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. 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. 8. incubatees
  9. 9. More during discussion