On Oct 16, 2023, IIT Bombay signed a Memorandum of understanding with Synopsys Inc towards establishing a Synopsys Semiconductor Lab for Virtual Fab Solutions at the Institute. The vision of this initiative is to foster a globally competitive semiconductor ecosystem in India. The MoU signing event was attended by dignitaries from Synopsys including Mr. Shankar Krishnamoorthy, GM, EDA Group, Synopsys and an alumnus of the Institute, and Mr. Aveek Sarkar, VP, Synopsys.