The institute has designed and developed mechanisms and bodies to help create new enterprises that employ technologies developed by its faculty and students.
The Society for Innovation and Entrepreneurship (SINE) is an umbrella organisation at IITB for various activities related to entrepreneurship and its promotion. It administers a business incubator that provides support for technology-based entrepreneurship. SINE widens the scope of the institute's research activities by enabling commercialisation of the IP generated through entrepreneurial ventures. Since its inception, 32 companies have been incubated.
The technology business incubator also has a wide spectrum of incubatee companies. The current entrepreneurs (a majority of whom are funded by either angel or venture capital funds) comprise student or faculty teams from the Industrial Design Centre and the departments of Aerospace Engineering, Chemical Engineering, Computer Science and Engineering, Electrical Engineering, Mechanical Engineering and Earth Sciences.
The Entrepreneurship Cell at IIT Bombay (commonly known as E-Cell) is a student organisation which motivates students to bring out their latent spirit of enterprise. It works throughout the year, showing students the opportunities that lie within their grasp and the path they can take to make a difference. Its initiatives include Eureka, the annual international business plan competition; Ideaz, the pan IIT business idea contest; E-Summit, the entrepreneurship summit; InCorpora, the business club of IITB; GEN, the Global Entrepreneurship Network (www.genportal.org); EnSpace, a newsletter, and ECampaign, the nationwide entrepreneurship drive. For more details, please visit www.ecell.in