The incubation centres at the Indian Institutes of Technology (IITs) were set up for converting ideas to practical solutions. They are now churning out some real success stories. Take the case of IIT Bombay. It was among the first engineering institutions in the country to set up an incubation and innovation centre to support many bright sparks. “Incubation centres are a platform where ideas and crude prototypes can be turned into products that can be commercialised. We established the centre at out institute the year 2000 and have incubated 48 companies, of which about 20 have been funded,” says Poyni Bhatt, chief administrative officer at IIT Bombay’s Society for Incubation and Entrepreneurship (SINE).
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