Ansys & SINE, IIT Bombay Collaborate for Tech Startups Acceleration

The parties have signed a memorandum of understanding (MOU) to provide engineering hardware startups with evaluation/trial licenses and to conduct events. End Quote

(1888PressRelease) June 12, 2024 - The Society For Innovation & Entrepreneurship (SINE), a technology business incubator set up in 2004 at the Indian Institute of Technology, Bombay, to promote innovation and technology-based entrepreneurship, is collaborating with Ansys Software Private Limited (Ansys, NASDAQ: ANSS) in India, leading engineering simulation software company, to provide support for technology startups. As a part of the Ansys Startup Program, Ansys and SINE have signed an MoU to solidify their collaboration. As per the terms of the MoU, Ansys will conduct events in association with SINE to support the success of engineering hardware startups and also provide evaluation/trial license for three months to the startups associated with SINE.

“Startups in India, especially engineering hardware startups, have immense potential to compete globally. Simulation technology is a key enabler for startups to help them demonstrate product competitiveness which is a key challenge they face. The Ansys Startup Program has supported several global startups to accelerate innovation at a competitive cost and to help secure additional funding for future projects. Ansys provides early-stage startups access to multiphysics simulation software, further supported by our deep expertise in solving complex problems. We are thrilled to announce our partnership with SINE, IIT Bombay, wherein we can contribute to SINE’s efforts in providing complete incubation and acceleration support for technology startups.” said Mike Yeager, Area Vice President, India and Japan, Ansys.
The Ansys Startup Program provides early-stage startups with access to multiphysics simulation software coupled with high-performance computing to help them tackle their engineering challenges quickly and cost-effectively. Since its inception, over 2,100 startups from 58 countries have joined the program, spanning the autonomous, high-tech, energy, aerospace and defence, automotive, communications, healthcare, and other industries.

“Ansys has been working with early-stage startups with limited funding and resources towards making their big dreams a reality, and we are happy to collaborate with SINE IIT Bombay. This partnership echoes our commitment to fostering innovation and supporting technology startups in India. Ansys’ Startup Program aims to empower emerging engineering hardware startups by providing them access to our cutting-edge simulation software and resources. Together with SINE, we look forward to encouraging the next generation of technological pioneers and driving impactful advancements.” said Murali Pullela, Sales Director, Ansys.

SINE is an umbrella organisation at IIT Bombay. It actively collaborates with industry and corporations through its various programs, including the ideation to prototyping support, entrepreneur fellowship program, cross-border program, and scale-up support for hardware and system startups, such as the Plugin accelerator program.

“Early-stage startup organisations face significant challenges in realising their dreams. At SINE, we strive to support startups by providing them with infrastructure support, access to high-end labs, market, and funding support. Startups supported by SINE have the need to access high-end tools and software that aid in prototype and product development. Ansys is committed to helping solve engineering challenges with right kind of tools & software, thereby boosting their chance to succeed.” said Mr. Shaji Varghese, CEO, SINE IIT Bombay.
With Ansys’ multiphysics simulation software, SINE gets the much-needed technological push to promote innovation and entrepreneurship. Startups associated with SINE can benefit from using Ansys’ engineering simulation to accelerate and evaluate product design and development, thereby fast-tracking their time-to-market and improving their cost-effectiveness.

About Ansys
Our Mission: Powering Innovation That Drives Human Advancement
When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.

Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos, and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.

About SINE
Society for Innovation and Entrepreneurship (SINE) is an umbrella organisation at IIT Bombay that fosters entrepreneurship and nurtures tech start-ups. It administers a business incubator which provides ‘Start to scale’ support for technology based entrepreneurship and facilitates the conversion of research activity into entrepreneurial ventures.

Set up in 2004, it is one of the earliest incubators in academia with a potential to create startups focussing on economic growth, strategic value and social relevance. It gives prototyping grants, provides incubation support to deeptech startups and also runs accelerator programs with corporate partnership. For more information: https://sineiitb.org/

For media inquiries please contact | Ritu Vatsala, PRHUB | Mob: 87890 65100 | ritu ( @ ) prhub dot com
or Harish Babu, PRHUB | Mob: 95388 97080 | harish ( @ ) prhub dot com

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