Collaboration for Open innovation program with Society for Innovation and Entrepreneurship (SINE), the technology business incubator at IIT Bombay (IITB) to support entrepreneurship and developing joint accelerator and incubation programs to support innovators and start-ups
ISS Facility Services India, a subsidiary of the Denmark-based global facility management services and workplace experiences leader ISS A/S (ISS Group) and one of India’s leading integrated facilities management companies has today signed an MoU with IIT Bombay’s Society for Innovation and Entrepreneurship (SINE), an umbrella organisation at IIT Bombay for fostering entrepreneurship and nurturing tech start-ups.
Through this collaboration, ISS and SINE will be developing joint accelerator and incubation programs to support innovators and start-ups. These programs will provide access to resources, mentorship, and funding opportunities, including Proof of Concept (POC) funding, Corporate Social Responsibility (CSR) funding, seed support, market outreach, and early adoption options.
“We are thrilled to be partnering with SINE on this important initiative,” said Mr. Aksh Rohatgi CEO, and Country Manager, ISS India. “We believe that supporting and investing in the ideas and potential of these bright minds will not only drive economic growth, but also help pave the way for a brighter future for the world and especially support India in its quest of Aatmanirbharta (Self-Reliance). We are confident that a lot of solutions will emerge for the Facilities Management industry which is currently undergoing transformation with rapid infusion of technology into various facets of the business. ISS has been laser-focused on sustainability and sustainable business practices and we are excited to see how ideas emerge to take businesses to progressively higher levels of sustainability.”
Poyni Bhatt, Chief Executive Officer, SINE said, “We are very excited to be partnering with ISS India. Through our corporate partnership program, we hope to provide a platform for corporate to productively engage with innovators and entrepreneurs to bring innovative product & solutions to market, and make a real impact on the world.”
In addition to providing funding support, ISS is also committed to providing joint Go To Market (GTM) support for interested startups. This includes access to infrastructure, the opportunity to conduct paid pilots, and corporate mentorship. Startups will also have access to the networks and entrepreneurship ecosystem of ISS and SINE on a specific approval basis.
As part of their collaboration, ISS and SINE are also providing innovators and startups with mentoring, industry expertise, and access to investors networks. Both parties will participate in Demo day events, where startups can showcase their products or services to a wider audience. ISS will also participate as a domain expert to evaluate SINE startups being considered for incubation, providing feedback and potentially adopting startup solutions as an end user.
IIT Bombay is one of the premier institutions of higher education in India, and has a strong track record of supporting innovation and entrepreneurship through its incubator, SINE. The partnership with ISS India will further enhance the institute’s efforts to foster a culture of innovation and support the growth of new ventures in the country.