In a major boost to India’s science-led startup ecosystem, IIT Bombay’s SINE (Society for Innovation and Entrepreneurship) on Tuesday launched the country’s first incubator-linked deep tech venture capital fund — the Y-Point Venture Capital Fund — with a corpus of ₹250 crore. This marks a groundbreaking step in strengthening early-stage deep tech innovation emerging from India’s top research institutions.
According to IIT Bombay, the fund has been designed to bridge the critical “lab-to-market” gap that deep tech startups often struggle with. By providing high-risk capital at the pre-seed and seed stages, the initiative aims to accelerate the journey of research-backed ideas into commercially scalable products.
The Y-Point Venture Capital Fund will invest in 25–30 early-stage deep tech startups, including those incubated at IIT Bombay and other leading academic and research institutes across the country. Startups can receive up to ₹15 crore per company, depending on their technology readiness and commercial potential.
Dr. K. Radhakrishnan, Chairperson of IIT Bombay’s Board of Governors, said the fund will act as a catalyst for creating globally competitive ventures by leveraging the institution’s world-class talent, cutting-edge labs, and decades of research expertise.
The fund will focus on startups working in high-impact sectors such as Artificial Intelligence, Advanced Computing, Advanced Manufacturing, Advanced Materials, Nuclear Technology, Space and Defence, Climate Tech, CleanTech, Life Sciences, and Healthcare. These areas, IIT Bombay said, require patient capital and longer development cycles, making dedicated deep tech funding crucial.
The fund has received approval from SEBI and is registered as a Category II Alternative Investment Fund (AIF).
Prof. Shireesh Kedare, Director of IIT Bombay, said SINE has long played a pivotal role in nurturing technology ventures through infrastructure, mentorship, and market access. “This fund will significantly accelerate the transition from breakthrough research to market-ready products,” he said. “It marks the first time an institute-linked investment manager will back deep tech ventures at this scale.
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