IIT Bombay and Groww Foundation Launch Landmark Partnership to Drive Deep-Tech Innovation

IIT Bombay today announced a landmark partnership with Groww Foundation, aimed at accelerating deep-tech innovation and enhancing India's translational research ecosystem. The collaboration is set to introduce a multi-component initiative that empowers student innovators, supports the development of functional prototypes, and fosters a seamless pathway for taking breakthrough academic ideas into real- world applications.

The initiative will be anchored within the Desai Sethi School of Entrepreneurship (DSSE) at IIT Bombay, leveraging its dynamic ecosystem to provide early-stage teams with the infrastructure, mentorship, and structured evaluation systems.

Speaking about the collaboration, Prof. Shireesh Kedare, Director, IIT Bombay, said, "This partnership with Groww Foundation represents a significant step in strengthening India's deep-tech innovation pipeline. By bringing together structured programs and a dedicated innovation space, we are creating a comprehensive pathway for students to translate ideas into solutions. This collaboration reinforces IIT Bombay's commitment to nurturing technologically skilled and socially conscious innovators.”

A cornerstone of this collaboration is the Groww Innovation Space — a state-of- the-art 15,000 sq. ft. facility located in the DSSE building. Complementing this physical hub is the launch of an annual Grand Challenge that will invite interdisciplinary teams of students, researchers, and faculty to develop breakthrough solutions in key focus areas, including holistic education, sustainable livelihood, healthcare, and women’s empowerment, among others.

Kalpana Swaminathan, Head of Groww Foundation, said, “At Groww, we believe that innovation rooted in technology and research-driven entrepreneurship is the key to shaping India’s future. Our partnership with IIT Bombay’s DSSE is designed to unlock the full potential of aspiring student innovators by providing them with the resources and mentorship needed to transform bold ideas into impactful ventures. Together, we aim to build a thriving ecosystem that not only nurtures deep-tech solutions but also contributes to sustainable and inclusive growth across multiple sectors.”

Over a period of four years, student-faculty teams will receive funding and sustained guidance from faculty and mentors, with high-performing interdisciplinary student teams gaining potential access to support for incubation. The program will provide development support to approximately 100 teams each year as part of their entrepreneurship and capstone coursework, enabling nearly 400 teams over four years to build, test, and refine their solutions.

This collaboration marks a significant milestone in advancing India’s technology innovation landscape and fostering a new generation of entrepreneurially minded technologists committed to sustainably building for the future.

About IIT Bombay:

The Indian Institute of Technology Bombay, set up in 1958 as the second IIT, is recognised worldwide as a leader in the field of science and engineering education and research. The Institute was granted the status of 'Institution of Eminence' by the Ministry of Education (the then Ministry of Human Resources Development) on July 9, 2018. IIT Bombay is reputed for the quality of its faculty, cutting edge research, industry relations and the outstanding calibre of students graduating from its undergraduate and postgraduate programmes.

The Institute has 17 academic departments, 47 other academic entities (Centres/ Programmes/ Academic facilities/ Hubs/ Externally funded centres and Labs) and three schools. Over the last six decades, more than 75,000 engineers and scientists have graduated from the Institute. It is served by 751 faculty members and about 150 visiting and part-time faculty considered not only amongst the best within the country but also highly recognised in the world for achievements in the field of education and research. On June 19, 2025, IIT Bombay was ranked 2nd in India and 129th in the world in the Quacquarelli Symonds (QS) World University Rankings for 2026.

About Groww Foundation:

Groww Foundation is dedicated to building inclusive and sustainable communities across India. The foundation focuses on expanding access to quality education, advancing research and development, and driving skill development initiatives for a sustainable livelihood and quality of life.

Through partnerships with nonprofits, educational institutions, governments, and community organisations, Groww Foundation supports on-ground and technology-driven programs with a focus on long-term impact. These initiatives strengthen essential services and promote socioeconomic empowerment, ensuring wider access to opportunities created by India’s growing digital and economic transformation.