IvyCap arm, IIT-B biz incubator in pact for funding ventures

IvyCap Ventures arm Ivycamp has tied up with a business incubator of IIT Bombay -- Society for Innovation and Entrepreneurship -- for mentorship and funding ventures from the western region.
The collaboration will organise joint workshops for over 2,000 start-ups from Mumbai in 2016 and ventures identified under this initiative will also be provided funds from a corpus of Rs 60 crore by IvyCap Ventures, a statement today said.
It added that IvyCamp will connect industry participants to students and entrepreneurs to provide guidance on formulating and strengthening business models.
One of the key activities under this partnership will
be to host an annual IIT-IIM Entrepreneurship and Innovation Conclave. The conclave will be held in Mumbai during April 2016 to engage the Community across India's premier Educational Institutions focused on growing innovation and entrepreneurship, to promote Alumni engagement, and to launch new features of the technology based platform.

IvyCamp is India's first unified technology based platform for innovation and entrepreneurship. Its parent - IvyCap Ventures is raising its second fund of Rs 600 crs. IvyCap has raised and deployed Rs 250 crore in its maiden fund last year. Speaking on the occasion, Dr. Anju Gupta, Co-founder and President of IvyCamp said, "We are happy to partner with SINE as this will not
only support entrepreneurs but actually build knowledge networks across student and the global
alumni network of IIT Bombay.