How Incubator Programs Are Encouraging Start-Ups In Tier2 And Tier 3 Cities In India1

1. How Incubator Programs Are Encouraging Start-Ups In Tier2 And Tier 3 Cities In India? An Overview Compared to Tier 1 cities in India that saw the maximum funding, Tier 2 and Tier 3 cities funding remained stagnant. While Bangalore, Mumbai, and Delhi NCR garnered the maximum investments and taking up the lion’s share of the total country funding, the Tier 2 cities funding was negligible. Today many entrepreneurs, angel investors, Venture capital firms, and incubators are working to scale up the start-up operations in Tier-2 cities and bring in more funds.

2. Many tier 2 cities such as Ahmedabad, Indore, Chandigarh, and Kochi recently organized an event powered by BIG shift, an Inc42 initiative, to celebrate the start-up system in Tier 2 cities. This platform provided nearly 400 early-stage start-ups to come together. Thirty start-ups were invited to pitch in their ideas to the mentors and investors. New opportunities have come up in the Pandemic season for start-ups to develop new ideas, including many innovations that are now relevant in the new world order post covid. The pandemic saw many incubators bringing together diverse partners and a shared vision of elevating the start-ups in Tier2 cities in India. The pandemic has presented new challenges and a tectonic shift on how things are done by creating a new ecosystem from which everyone can benefit. Incubator programs like Indiarath have played a pivotal role for entrepreneurs to sustain their start-ups and diversify to other geographical locations. They have designed programs that help entrepreneurs access financial support and mentorship to build suitable business models, products, and access to the customer network. Another key vision of this accelerator program was to create a platform with a level playing field between experts and talented founders and an unbiased approach towards sectors or geographies. This approach was to challenge the existing trend of having start-ups only in the urban areas in Tier 1 & Tier 2 cities. This led to most of the opportunities restricted only to urban areas and one of the main reasons for negligible growth in Tier2 cities start-ups.

3. How Incubator Programs Are Helping Entrepreneurs In Tier 2 Cities? A typical incubator program such as Indiarath runs 24 weeks program divided into three broad categories. 1. Skill development for entrepreneurs by experts through masterclass sessions. They provide inputs on handling challenging real-life situations, strategies for branding, product designing, and business remodeling. 2. Dedicated Mentorships by industry experts for helping start-ups to achieve tangible results over six months. 3. Connecting to global networks to build a more robust and broader market reach. Every incubator has unique programs to support start-ups. Some incubators are a part of a large Venture capital fund, while others are part of large organizations. Certain incubators combine all types and have diverse programs that act as incubators, accelerators, and venture capital funds.

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