The Society for Innovation & Entrepreneurship (SINE), a technology business incubator at the Indian Institute of Technology Bombay (IIT Bombay), has forged a strategic collaboration with Ansys Software Private Limited, to bolster support for technology startups in India. This partnership aims to leverage Ansys’ expertise and resources through its Startup Program to empower early-stage engineering hardware startups associated with SINE.
Under the Memorandum of Understanding (MoU) signed between Ansys and SINE, Ansys will conduct various events aimed at fostering the success of engineering hardware startups. Additionally, startups associated with SINE will benefit from a three-month evaluation/trial license of Ansys’ multiphysics simulation software. This initiative is part of Ansys’ broader commitment to provide startups access to cutting-edge simulation technology to overcome engineering challenges efficiently and cost-effectively.
“Startups in India, particularly those in engineering hardware, possess immense global competitiveness potential. Simulation technology plays a crucial role in helping startups demonstrate the competitiveness of their products, a significant challenge they often face,” remarked Mike Yeager, Area Vice President, India and Japan, Ansys. “Through the Ansys Startup Program, we have supported numerous startups globally, enabling them to innovate swiftly and secure additional funding for future projects. We are excited about our partnership with SINE, IIT Bombay, where we can contribute to SINE’s comprehensive incubation and acceleration efforts for technology startups.”
The Ansys Startup Program has already assisted over 2,100 startups from 58 countries across diverse industries such as autonomous systems, high-tech, energy, aerospace, automotive, healthcare, and more. The program provides startups access to multiphysics simulation software combined with high-performance computing capabilities.
Murali Pullela, Sales Director at Ansys, emphasized, “Ansys has been dedicated to supporting early-stage startups globally, particularly those with limited funding and resources, in realizing their ambitious goals. This collaboration with SINE underscores our commitment to fostering innovation and nurturing technology startups in India. By granting startups access to our advanced simulation software and resources, we aim to empower the next generation of technological pioneers and drive impactful advancements.”
SINE, an integral part of IIT Bombay’s ecosystem, actively collaborates with industry partners through various initiatives, including ideation to prototyping support, entrepreneur fellowship programs, cross-border collaborations, and scale-up support for hardware and system startups like the Plugin accelerator program.
“Early-stage startups often face significant hurdles in realizing their visions. At SINE, our mission is to provide startups with the necessary infrastructure, access to state-of-the-art labs, market insights, and funding support,” stated Shaji Varghese, CEO of SINE IIT Bombay. “Startups associated with SINE require access to high-end tools and software for prototyping and product development. Ansys’ multiphysics simulation software will empower startups by enabling them to address engineering challenges effectively, thereby enhancing their prospects for success.”
The collaboration between Ansys and SINE is poised to facilitate technological innovation and entrepreneurship in India’s startup ecosystem. By leveraging Ansys’ simulation capabilities, startups at SINE can accelerate product design and development processes, reducing time-to-market and enhancing cost-effectiveness.
This partnership underscores both organizations’ commitment to driving innovation, supporting startups, and contributing to India’s technological advancement in the global arena.