New Frontier Capital has signed a collaborative MOU with the Indian Institute of Technology, Bombay (IIT-Bombay). The IITs are the top science and technology universities in India and, amongst the IITs, IIT-Bombay is the second oldest of the 23 IITs across India and is internationally renowned for its excellence in research and academia.
As part of its objective to take up research that makes a difference, IIT-Bombay encourages its faculty member, employees and students to take up R&D from early on and convert their technology ideas and innovation in various disciplines of science and engineering into commercial ventures for wide public good.
IIT-Bombay operates technology business incubators as an umbrella organization including the Society for Innovation & Entrepreneurship (SINE) and Entrepreneurship Cell. Through these initiatives, IIT-Bombay is committed to generating innovation for startup companies.
Concurrently, New Frontier Capital has signed a collaborative MOU with SINE, the technology incubator fostering entrepreneurship and nurturing tech start-ups. Since its incorporation in 2004, SINE has supported 200+ startups, 850+ entrepreneurs and has been selected as “Centre of Excellence” by the Department of Science and Technology.
The MOU with IIT-Bombay and SINE includes an agreement for discussion to set up an office for New Frontier Capital within university premises in order to further promote the sharing of information between India and Japan, and also to establish a jointly operated innovation center in Tokyo, Japan and in Bombay, India.
The year 2022 marked the 70th Anniversary of the establishment of India-Japan diplomatic relations. Through the MOU with IIT-Bombay and SINE, we will continue to strive to build a global innovation ecosystem that connects Japan, India and research institutions throughout the world.