IIT Bombay, set up by an Act of Parliament, was established in 1958. Over the years, the institute has made tremendous strides in the area of academic and research activities, and has become recognized as one of the centers of academic excellence in the world.

In 2000, IIT-B made a foray into entrepreneurial development by establishing its incubator at the Kanwal Rekhi School of Information Technology. This was a landmark step and the institute has come a long way since then with a number of student companies already incubated at the IIT incubator and several faculty members now eager to incubate their companies.

To give further impetus to the ever-prevalent entrepreneurial culture at the campus, and increasingly contribute to the Indian economy, IIT-B is joining hands with the Wadhwani Foundation and 4 other institutes to found the National Entrepreneurship Network.

"We feel privileged to be a founding member of NEN and hope to take entrepreneurship activities to greater heights at IIT Bombay. I hope that the vision and generosity of Mr. Romesh Wadhwani that has been driving this initiative will lay the foundation for ushering a vibrant environment for entrepreneurship in India."
- Prof Ashok Misra,
  Director IIT, Powai Mumbai