IvyCamp Announces Partnership With SINE, IIT Bombay to Collaborate on Entrepreneurship and Innovation Platform

MUMBAI, December 1, 2015 /PRNewswire/ --

- To Leverage the IvyCamp Platform for Mentorship and Funding Ventures From Western Region

- Goal of Joint Workshops for Over 2000 Startups From Mumbai in 2016

- Showcasing Startups to Potential Investors for Seed, Angel or VC Stage

- Give Access to Mentors via the Global Alumni Network of IvyCamp

- Ventures Identified Under This Initiative Will Also be Considered for Deployment of Capital From a Corpus of Rs. 60 Crs. by IvyCap Ventures

IvyCamp, an initiative of IvyCap Ventures and the Society for Innovation and Entrepreneurship (SINE), a business incubator of IIT Bombay today announced a strategic alliance to leverage the IvyCamp Platform to connect and create value for entrepreneurs and innovators across the student and Alumni Community.

IvyCamp will connect the industry participants to students & entrepreneurs for providing guidance on formulating & strengthening business models. It will also play an important role of connecting startups and ventures from IIT Bombay's four centers for entrepreneurship - SINE, the e-cell, Research Park, and entrepreneurship center to investors for getting funding which is crucial part of the thriving ecosystem. SINE will leverage IvyCamp's industry and Global alumni networks across premier b'schools and engineering institutes in conducting on and off-campus workshops for over 2000 startups based in Mumbai via launch of new initiatives.

One of the key activities under this partnership will be to host an annual IIT-IIM Entrepreneurship and Innovation Conclave. The conclave will be held in Mumbai during April 2016 to engage the Community across India's premier Educational Institutions focused on growing innovation and entrepreneurship, to promote Alumni engagement, and to launch new features of the technology based platform.

IvyCamp is India's first unified technology based platform for innovation and entrepreneurship. Its parent - IvyCap Ventures is raising its second fund of Rs 600 crs. IvyCap has raised and deployed Rs 250 crore in its maiden fund last year. Speaking on the occasion, Dr. Anju Gupta, Co-founder and President of IvyCamp said, "We are happy to partner with SINE as this will not only support entrepreneurs but actually build knowledge networks across student and the global alumni network of IIT Bombay."

SINE has created an entrepreneurship platform that provides support for technology - based companies of students and alumni of IIT-Bombay. Speaking on the development, Poyni Bhatt from SINE said, "SINE has contributed in building an entrepreneurial ecosystem at IIT Bombay which has witnessed various successful startups. IvyCamp has covered significant ground in the area of startups and this partnership will see more on and off-campus entrepreneurial activities for mentorship and funding."

About IvyCamp (http://www.ivycamp.in)

IvyCamp, an initiative of IvyCap Ventures, is a cohesive entrepreneur ecosystem designed to create intellectual capital and innovation across India's educational institutions and transform that into economic value that will shape our technology and economy. Last year, IvyCamp engaged with 4000 startups across the top engineering and management campuses including all 16 IITs, 13 IIMs, BITS and ISB. As part of this effort we created a relationship with the campuses like IITs at Bombay, Delhi, Madras, Kanpur, Gandhinagar, Indore, Hyderabad, Varanasi, and IIMs at Ahmedabad, Kolkata, Indore, Lucknow, Bangalore, and ISB Hyderabad to bring the communities of alumni, students and faculty under one communication network.

About SINE: (http://www.sineiitb.org)

Set up in 2004, SINE has been managing technology business incubator at IIT Bombay. Incubation period is typically for 3 years. As an incubator, SINE supports companies with physical infrastructure, access to technical resources, mentoring support, seed money etc. It is one of the early adopter of business incubation in academic environment, and supported many other incubators by sharing its practices with them. It has also been recipient of best incubator from Department of Science and Technology, Government of India.

For further information kindly contact:

Ivycamp: Ms. Anju Gupta | +91 80-88688073 | [email protected]

SINE, IIT Bombay: Ms. Poyni Bhatt | +91 9820951634 | [email protected]