IvyCamp and the Society for Innovation and Entrepreneurship (SINE), a business incubator of IIT Bombay have entered into a strategic alliance with each other to connect emerging startups with mentors and investors.
Under the signed MoU, the students and the alumni community from IIT Bombay’s four centers for entrepreneurship namely SINE, the e-cell, Research Park and entrepreneurship center, will be able to leverage the experience of industry participants to guide and mentor on formulating & strengthening business models, and get funded for seed, angel or VC stage from the investors at IvyCamp’s platform.
SINE will leverage IvyCamp’s industry and global alumni networks across premier B-schools and engineering institutes in organising an on-campus and off-campus workshops for over 2000 startups based in Mumbai.
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. The ventures identified under this initiative will also be considered for deployment of Capital from a corpus of INR 60 Cr.”
With this, IvyCamp and SINE will together host an annual IIT-IIM Entrepreneurship and Innovation Conclave. For the year 2016, the conclave will be held in Mumbai in the month of April.
IvyCamp, a unified technology-based platform for innovation and entrepreneurship, is an initiative of IvyCap Ventures. IvyCap Ventures is also planning to raise its second fund of $ 90 Mn (INR 600 Cr).