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Business Incubators in India. Anshul Saxena CINE. What are Business Incubators. Incubation is a dynamic process of business development. Incubators nurture young firms, helping them to survive in their early stage. Incubators provide: Infrastructural support i.e. office space, meeting room

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what are business incubators
What are Business Incubators
  • Incubation is a dynamic process of business development.
  • Incubators nurture young firms, helping them to survive in their early stage.
  • Incubators provide:
    • Infrastructural support i.e. office space, meeting room
    • Platform to do networking
    • Management assistance
    • Other support services, specific to incubators
slide3

Source: http://www.1000ventures.com/presentations/business_incubators.html

benefits of incubation
Benefits of Incubation
  • For Tenant Companies
  • For Corporate World
    • The new technology / product gets developed
    • Informed investment choice
    • Possibilities for takeover
  • For Govt.
    • Economic development
    • Social benefits
    • Encouragement to innovate
model
Model
  • Linear Model of Innovation:
    • Origin of all innovation lies in Research activities
    • Role of universities
  • Since Universities receive Govt. grant, so ideas of current national interest incubated
  • Apart from R&D support, managerial support also required to develop business
    • Commercial feasibility to the ideas
  • Networks in suitable places can prove handy
indian scenario
Indian Scenario
  • Incubation at nascent stage
  • Mostly in a college / university, e.g.
    • TREC – STEP (NIT, Trichy)
    • Society for innovation and entrepreneurship (IIT – B)
    • Nirma Labs
    • Technology Business Incubators – IITD
    • TBI@KEC (Kongu Engg. college, TN)

These incubators provide technological support

    • STPI (Software technology parks)
    • CIIE, IIMA
example
Example
  • Main Activities of SINE are to:
    • Incubate early stage entrepreneurial ventures based on technology and innovation.
    • Create physical infrastructure and support systems necessary for business incubation activities.
    • Facilitate networking with professional resources, which include mentors, experts, consultants and advisors for the incubatee companies.
    • Identify technologies/innovations which have potential for commercial ventures.
    • Promote and foster the spirit of entrepreneurship.
    • Carry out activities that facilitate knowledge creation, innovation and entrepreneurship activities.
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STP
  • Remarkable Govt. initiative
  • Special incubator in software sector
  • Objectives of STPs are
    • To establish and manage infrastructure resources i.e. Data communication facilities, core computer facilities
    • To promote development and export of software services
    • Fast clearance (single window) for statutory services
    • To train professionals
  • Currently in about 34 cities across India
taking examples from europe
Taking examples from Europe
  • Extensive network of incubators
  • Incubators in or near by famous universities
    • Provides technical and R&D support
  • Some expertise to offer
    • Management
    • Technological
    • Networks
  • In fact, Incubators position themselves according to the additional expertise they offer
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Platform to pitch to VCs and PE funds
    • Help in preparing pitches
    • Incubators have some VCs as either stakeholders or Board members
    • Incubators develop good track record and rapport with certain VCs
  • Network among Incubators
    • Incubators develop network among themselves
    • Help them in utilizing networks with VCs and other research firms
  • Some examples: Manchester Business school incubator, IT univ. of copenhagen, London science park etc.
slide11
Govt. assistance
    • UK trade and investment (UKTI), an arm ok UK foreign ministry works with incubators
    • Organizes programs wherein motivates young companies to be part of these incubators
    • Also invites foreign startups
    • Provides Legal and other statutory services to incubators
the way ahead
The way ahead
  • Govt. initiatives to develop incubators
    • Public-Private partnerships
    • Some benefits and sops to develop and manage incubators
    • The return in this business (incubators) come after a gap of time, Govt. needs to fill this gap in PPP
  • Indian incubators have to think beyond R&D assistance
  • Networks with VCs and other firms also required
slide13
Incubators can be segmented according to the ideas they incubate.
  • Infrastructure
    • Taking one step forward
    • Good infrastructure: a hygiene factor to companies