The parties have signed a memorandum of understanding (MOU) to provide engineering hardware startups with evaluation/trial licenses and to conduct events.
Key Highlights
- Ansys will provide evaluation/trial license for three months to the startups associated with SINE and support for the same.
- Ansys will conduct events in association with SINE to enable the success of engineering hardware startups.
Mumbai, June 11, 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.
