MUMBAI, March 22 -- There's no stopping an idea whose time has come. The year was 1999 and, as fears of the Y2K fallout gripped the world, a teacher at the Indian Institute of Technology-Bombay (IIT-B) had an audacious idea, unheard of then: instead of preparing students for jobs, why not create employers, not employees. That idea took shape as the Society for Innovation and Entrepreneurship (SINE), one of India's early start-up incubators. More than 25 years later, and after one of its success stories, Sedemac Mechatronics launched an IPO two weeks ago, we trace the journey of an institution that has played a pivotal role in the country's evolving start-up ecosystem. Formally established in 2004, SINE has driven innovation through over 500 start-ups, several of them breaking new ground in their fields, catalysing discoveries in areas such as biomedical technology, deep technology, healthcare, defence, artificial intelligence, clean technology, mobility and enterprise solutions. "The start-up cell faced opposition from parents when it was first established. At that time, most parents wanted their children, especially IIT-Bombay graduates, to secure stable and well-paying jobs. And, here, we were encouraging students to become entrepreneurs," recalls Deepak Phatak, whose audacious idea birthed SINE and was then a professor with the department of computer science and engineering at IIT-B. SINE was backed by well-known alumni such as Kanwal Rekhi, veteran venture capitalist and serial entrepreneur in Silicon Valley, and Infosys co-founder Nandan Nilekani. In its early years, it focused on information technology, having originated in IIT-B's School of Information Technology. As IIT-B began to set up new departments and as new and existing ones started to serve as thinktanks and consultants to the government, early ideas and thoughts found their way to the incubation centre and were tested, worked upon, and in some cases, became real business ventures. In 2004, with support from the Government of India through the Department of Science and Technology, SINE was established as an independent entity. It was recognised as a technology business incubator within the IIT-Bombay campus. Over the years, SINE has played a key role in shaping India's startup ecosystem, supporting more than 500 startups. It has collectively raised more than $1,000 million in funding and a combined valuation of over $3.56 billion. Some of the early start-ups incubated by SINE include Sedemac Mechatronics. Sedemac, incubated in 2008, has grown into a major deep-tech company in automotive electronics and launched an IPO recently. Another success story is ideaForge, a drone technology company, which in 2023 became the first start-up from an academic incubator in India to go public. Then there's Atomberg Technologies, a Pune-based smart appliance manufacturer, whose journey at SINE began in 2012. "It was one of the best decisions we ever made. SINE gave us far more than just a desk on campus. It opened doors to early-stage investors and seasoned mentors at a time when we needed guidance most," said Manoj Meena, co-founder and CEO of Atomberg Technologies. "Being physically inside the IIT Bombay campus meant we could access world-class research labs to test and validate our early motor prototypes, something that would have been nearly impossible otherwise," he says. Beyond world-class infrastructure, what SINE truly offers is a sense of community, adds Meena, watching fellow-incubatees navigate their own challenges, sharing learnings, and knowing one is part of a larger, ambitious ecosystem. "We have grown from one to 1,000 staff members and zero to a Rs.1,000-crore company. We owe this to the foundation we built at IIT-Bombay," he says. Shaji Varghese, CEO, SINE IIT-Bombay, says other companies incubated at SINE have made a name in their respective sectors are Gupshup, an AI-based messaging platform; ImmunoACT, which developed India's first indigenous CAR-T cell therapy for cancer treatment; and Safe Security, a global cybersecurity company. Professor Rahul Purwar, co-founder of ImmunoACT, recalls that he had only begun researching the therapy when he signed up at SINE in 2013. "With the help of the IIT-Bombay ecosystem and Tata Memorial Hospital, we finally announced the therapy and we are now using it to treat patients," says Purwar. Varghese points out that one of SINE's key strengths is the complete support it offers, via funding, mentorship, technical guidance and access to IIT-Bombay's research facilities. "A strong network of mentors, including successful entrepreneurs and industry experts, helps founders with business strategy, product development and market access," he says. SINE also helps future founders navigate intellectual property, regulatory requirements and fund-raising. "SINE has a strong pool of mentors drawn from its alumni network and industry. These are highly successful entrepreneurs and industry leaders, who work closely with founders in areas such as go-to-market strategy, scaling, and business development," says Verghese. To bridge the gap between research and business, SINE through initiatives such as Project Titanium helps researchers and faculty convert their ideas into market-ready products. The programme offers mentoring, early-stage funding and industry partnerships to support this transition. SINE also recognises that entrepreneurship involves risk and failure. When start-ups face challenges, the incubator works closely with founders to review their strategies and explore new opportunities. Even when ventures run aground, founders often continue to contribute to the ecosystem through new ideas and roles. SINE has also built strong international partnerships with institutions such as Monash University, the University of Chicago's Polsky Center and ITRI Taiwan. These ties help Indian start-ups gain global exposure and access to new markets. In December 2025 SINE launched India's first deep-tech venture capital fund managed by an academia-linked incubator. The Y-Point Venture Capital Fund, with a size of Rs.250 crore, will provide early-stage risk capital to start-ups built on advanced research....