₹250 crore Y-Point VC Fund to Back AI, Space, Defence, Climate Tech, and Life Sciences Startups Emerging from Top Institutes Launches India’s First Deep-Tech VC Fund for Startups

MUMBAI, Dec 10 : In a landmark move to boost India’s deep-tech ecosystem, the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay on Monday launched the country’s first deep-tech venture capital fund managed by an academia linked incubator. Named the Y-Point Venture Capital Fund, the ₹250 crore initiative aims to provide early stage risk capital to startups built on advanced research, helping translate cutting edge technology from lab to market.

Over the past two decades, SINE has nurtured more than 500 startups and supported over 1,000 innovators. The new fund is designed to address challenges unique to deep-tech ventures, such as long development cycles, high capital requirements, and limited access to specialised mentorship. Deep-tech refers to breakthrough solutions based on science and engineering advancements.

The fund will invest in pre-seed and seed stage startups from IIT Bombay and other premier institutes, targeting 25–30 ventures with a maximum investment of ₹15 crore each. Priority sectors include artificial intelligence, advanced computing, nuclear technology, defence, climate technology, life sciences, healthcare, and space technology.

Prof. K. Radhakrishnan, chairperson of IIT Bombay’s Board of Governors, said the fund would act as a “catalyst for building globally competitive ventures by leveraging world-class talent and cutting-edge research.” Director Shireesh Kedare highlighted that the fund strengthens SINE’s ongoing role in nurturing the institute’s startup ecosystem, while SINE CEO Shaji Varghese noted that SEBI approval has been secured, with fundraising expected to close within six to nine months.

Strategic Plan 2026–2030

During the launch, Prof. Radhakrishnan also unveiled IIT Bombay’s strategic roadmap for 2026–2030, centred on three pillars: learning centric education with student driven and experiential models, leadership in frontier research across AI/ML, climate technology, medtech, quantum sciences, materials, and space and defence, and industry-relevant research to strengthen the startup ecosystem and accelerate commercialisation of innovations.

New Student Housing

As part of campus development, IIT Bombay inaugurated Hostel 19, a new residence block accommodating 1,051 students. Spread over 300,000 sq. ft. in a G+9-storey courtyard style design, the hostel maximises natural light and ventilation. It features beds, study areas, wardrobes, shared facilities, and a rooftop recreational space above the dining block.

With the launch of the Y-Point VC Fund, IIT Bombay positions itself at the forefront of India’s deep-tech revolution, empowering startups that could define the country’s technological future.