IIT Bombay recently partnered with Groww Foundation to boost deep-tech innovation and student entrepreneurship. This collaboration aims to accelerate research and development within advanced technology fields.
The initiative is set to operate from the Desai Sethi School of Entrepreneurship (DSSE) at IIT Bombay. It will leverage DSSE’s existing ecosystem to support early-stage student teams.
Innovation Hub Established
A key outcome of this partnership is the establishment of the Groww Innovation Space. This state-of-the-art facility measures 15,000 square feet and is located within the DSSE building. It will provide a dedicated environment for innovators.
Professor Shireesh Kedare, IIT Bombay Director, emphasized the partnership’s role in strengthening India’s deep-tech innovation pipeline. He stated the collaboration creates a clear pathway for students to transform their theoretical ideas into tangible solutions.
Kedare further noted that this reinforces IIT Bombay’s commitment. The institute aims to nurture students who are both technologically skilled and socially conscious in their innovation efforts.
Comprehensive Support for Student Teams
The program will extend over a period of four years . During this timeframe, student-faculty teams will receive consistent funding and expert guidance from IIT Bombay faculty and external mentors.
The mentorship covers technical development, business strategy, and market readiness. This structured support aims to prepare projects for real-world application.
High-performing interdisciplinary student teams will also gain access to incubation support. This includes resources and connections necessary to scale their ventures and attract further investment.
The program is designed to provide development support to approximately 100 teams annually . These teams will engage in entrepreneurship and capstone coursework, focusing on practical application.
Over the full four-year period, nearly 400 teams will have the opportunity to build, test, and refine their deep-tech solutions. This systematic approach ensures sustained development and learning.
Kalpana Swaminathan, Groww Foundation Head, outlined the partnership’s objective. She stated it aims to unlock the full potential of student innovators by providing essential resources and mentorship.
Swaminathan added that the joint effort seeks to build a robust ecosystem. This ecosystem will not only foster deep-tech solutions but also contribute to sustainable and inclusive growth across multiple economic sectors.
Program Scope and Features
- Program Duration: Four years.
- Annual Team Support: Approximately 100 student-faculty teams.
- Total Teams Supported: Nearly 400 teams over four years.
- Key Resources: Funding, mentorship, infrastructure, structured evaluation.
- Advanced Support: Incubation access for high-performing teams.
- Primary Focus Areas: Deep-tech innovation, translational research, student entrepreneurship.
- Facility: Groww Innovation Space, 15,000 sq ft, located at DSSE.
Strategic Alignment with IIT Bombay’s Future
This partnership aligns directly with IIT Bombay’s long-term strategic goals, detailed in its 2030 roadmap . The roadmap outlines the institute’s future direction and key priorities.
The 2030 roadmap focuses on significant advancements in critical areas. These include Artificial Intelligence (AI) , Medical Technology (MedTech) , and quantum research .
The roadmap also emphasizes expanding industry collaborations and strengthening global academic ties. The Groww Foundation partnership directly supports these objectives by fostering innovation in these advanced fields.