Examples of business incubators in India: 1. The Amity Innovation Incubator 2. Centre for Innovation Incubation and Entrepreneurship (CUE IIMA) 3. IAN Incubator 4. International Centre for Entrepreneurship and Technology (ICRE- ATE) 5. Startup Village 6.
Example # 1. The Amity Innovation Incubator:
It was founded in 2008 and is located in Noida. It Focuses on Areas such as Rural Innovation and Social Entrepreneurship, Information and communication Technologies, Social media and ecommerce, Mobile computing and technologies, Analytics, Cloud computing and Big Data, Education and Education Technologies, Food and allied Technologies, Biotechnology and Life Sciences, Nanotechnology and Material Sciences. It provides Funding Upto INR 1 Crore.
It is a pioneering concept in the context of Indian Universities. Supported by DST, Ministry of Science & Technology, GOI, ‘Amity Innovation Incubator ‘has in a very short time of its existence earned an enviable position for itself with start-ups which have regularly been on top of the innovation curve and have been recognized on platforms like ‘The Power of ideas’, ‘Read Herring Global winner’, ‘Tata NEN’ and ‘NASSCOM’ Innovation Awards, to name a few.
Centre for Innovation Incubation and Entrepreneurship was setup by IIM Ahmedabad with support from the Government of India and Gujarat Government and operates through an autonomous not- for-profit entity. CUE comprises of IIMA faculty, alumni and other individuals and partners with like-minded organizations to foster entrepreneurship through incubation, ecosystem development and academic initiatives.
It is Located at Ahmedabad and was Founded as a research institute in 2002 and was turned into a full-fledged incubation centre in 2007.
Its Focus Area is Information Communication Technology, Cleantech and Social. It provides Funding INR 20 lakhs
Example # 3. IAN Incubator:
Indian Angel Network (IAN), the pioneer of Angel Investing in India, has established the-IAN Incubator with the support of National Science and Technology Entrepreneurship Development Board, Department of Science & Technology, Govt. of India. IAN Incubator powered by TiE Delhi-NCR provides a platform for sound technology/business ideas to become successful and investible businesses at the time when they are most susceptible that is the first few months before and after the creation of the venture.
The IAN Incubator powered by TiE Delhi-NCR supports techno-preneurs along their entire journey from an idea to enterprise and beyond.
The Incubator team works very closely with the Incubated companies and supports them through the pre-start-up/start-up phase of their business ventures. The Incubator works with entrepreneurs in stabilizing the product/service, business planning, formulating the market strategy and providing full support in operationalizing the business plan.
It helps in accessing seed funding, team building, providing strategic and operational guidance, marketing and promotion, advisories on IP and investment and everything else that will-help entrepreneurs survive in the competitive market and reach the stage where they can receiving further funding for growing their venture.
Simultaneously, the Incubator also provides a rich training and development program to enhance the skills and knowledge base of the entrepreneurs. The Incubator has a strong and dynamic core team and leverages the Angel network for mentoring and various other services.
The Incubator is also in the process of developing strategic tie-ups with, corporate, R&D labs, and industry associations to be able to provide comprehensive support to the Incubatees. A virtual incubator ensures that any physical distances do not inhibit the effectiveness of the incubation services.
Established from the support of National Science and Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Govt. of India.
The incubator helps entrepreneurs to convert their ideas in becoming successful and profitable ventures by supporting them in business planning, mentoring, recruiting their top team, commercializing their technologies, developing their products, getting early seed funding, help in forging partnerships at the national and global level, advice on intellectual property, training and development and many other things.
IAN is reputed for its huge network of successful entrepreneurs, domain experts, academicians and experienced professionals.
Its Focus Areas are IT/ITES, Telecom, Mobile VAS, Gaming and Animation, Internet/Web, Media and Entertainment, Education technology, Healthcare technology, Manufacturing Products, Alternative Energy, Clean Technology, Cloud computing, Retail technology
It provides support in getting seed-funding or securing loans from various sources such as Govt. grants, angel investors, seed & early stage funds and other sources.
Example # 4. International Centre for Entrepreneurship and Technology (ICRE- ATE):
Under the dynamic leadership of honorable Prime Minister Shri Narendra Modi, Gujarat has set-up a world-class Centre for Excellence for Entrepreneurship and Technology. It is an initiative of Gujarat Foundation of Entrepreneurial Excellence (GFEE) and a joint venture of Gujarat Mineral Development Corporation Limited (GMDC) and Gujarat Entrepreneurship and Venture Promotion Foundation (GEVPF). It conducts various seminars, reach-out programs, networking events and more for both students and aspiring entrepreneurs. The grooming and incubation program is conducted in a batch of 25 with duration of 13 weeks.
It is located at Ahmedabad and was founded in the year 2011.
Its Vision is – “be an ecosystem devoted to promote growth of entrepreneurial capital which leverages innovations and technology.”
Its Mission is – “Facilitate new age entrepreneurial pursuits of youth that focus on innovative applications for wealth generation, employment creation and global competition”.
Its success Mantra is – “Be the most coveted place to be in the world if interested in pursuits of technology and entrepreneurship”.
Example # 5. Startup Village:
The Finance Minister announced in the budget speech of 2014-15 that it was proposed to Set up a “Start-up village Entrepreneurship Programme” for encouraging rural youth to take up local entrepreneurship programs. It was proposed to provide an initial sum of 100 crore for this”. The proposed Programme was to be implemented under National Rural Livelihoods Mission (NRLM). In order to operationalize the program, discussion were held with various organizations having experience/working towards of entrepreneurship Development Programme and State Governments.
Separate discussions were held with various banks to discuss critical challenges related to bank financing of enterprise projects, especially those of rural poor women and leading banks.
Startup Village is a technology business incubator in Kochi and it is India’s first incubator that is funded jointly by the public and private sector. The promoters of Startup Village are Department of Science and Technology, Government of India, Technopark Trivandrum and MobME Wireless. Kris Gopalakrishnan, co-founder of Infosys and the most successful IT entrepreneur from Kerala, is the chief mentor at Startup Village. It aims to incubate 1,000 product startups over 10 years and it primarily focuses on student startups from college campuses.
It is located in Kochi and was Founded In the year 2012
It Focuses on Technology product startups
Its Notable Startup is ‘iTraveller’
Example # 6. Society for Innovation and Entrepreneurship (SINE):
Society for Innovation and Entrepreneurship, is hosted by Indian Institute of Technology Bombay- IIT Bombay. It is an umbrella for promotion of entrepreneurship at IIT Bombay. SINE administers a business incubator which provides support for technology based entrepreneurship. It incubates an average of 15 startups at a time and has an infrastructure spread over an area of 10,000 sq.ft. It was founded in the year 2004 and is Located at Mumbai.
The resource centre at SINE provides the companies an access to data resources, experts and mentor pool. It also facilitates issue based talks and programmes.
a. Fully furnished offices
b. Personal computers & Printers
c. Telecom facilities
d. Internet connectivity
a. Business plan assistance
b. Mentoring support
c. Access to professionals with legal, financial, accounting, IP, and industry expertise
d. Showcasing events for exhibition of products and solutions
e. Networking events to facilitate interaction with investors and industries
f. Training programmes and seminars relevant to entrepreneurs
g. Seed fund support on case-to-case basis
a. Meeting and conference rooms equipped with projectors & audio/video conferencing facilities
b. High-end photocopying, fax, scanning machines
c. Pantry facilities
d. Lab facilities- SINE lab, Tinkers lab, access to institute labs
Its Notable Startups are Webaroo, Bhugol GIS, SMSGupshup
Example # 7. Science and Technology Entrepreneurship Park (STEP):
The Science and Technology Entrepreneurs’ Park (STEP) was established at IIT Kharagpur in Dec. 1986 with financial support from DST New Delhi, DST West Bengal, IDBI, IFCI, ICICI. Approval was accorded by DST on August 14, 1987. Operations commenced from Mar. 1989.
As per the mandate set by National Science and Technology Entrepreneurship Development Board (NSTEDB), DST, New Delhi, STEP IIT Kharagpur has come a long way in promoting STEP Incubator is based out in IIT Kharagpur. It helps the young firms to survive and grow by providing specialized support services during the critical period of a business venture i.e. the start-up phase. The goal is to nurture successful indigenous technologies and growth oriented entrepreneurs/enterprises. It provides space as well as seed fund to the startups.
Example # 8. Technology Incubation and Entrepreneurship Training Society (TIETS):
Technology Incubation and Entrepreneurship Training Society (TIETS) is a dynamic virtual incubation unlike STEP program at IIT Kharagpur (KGP) for entrepreneurship development society. It seeded the efforts to create an all-inclusive funding infrastructure at IIT Kharagpur. It was started in the year 2006. Creation of such an infrastructure triggered the invocation of the entrepreneurship process lifecycle of ideation, incubation and integration among the students and alumni of this institution.
TIETS has created an avenue for its incubatees where they get the fund support, mentoring, evaluation and prototype branding. The activities of the society are just the complementary of Science & Technology Entrepreneurs’ Park (STEP) of IIT KGP. STEP provides the real incubation space to its incubatees.
The activities of TIETS have led to the formation of the entrepreneurship cell of IIT KGP run by the students under the guidance of professors. This forum is an opportunity for the student entrepreneurs to give their idea a trial with the help of TIETS. This also guided the way to develop course wares and a variety of training programs for IIT stakeholders and public at large.
The Incubation and Entrepreneurship programme at IIT Kharagpur has a vibrant Entrepreneurship Cell (E-Cell). It is a non-profit student organization, dedicated to the cause of promoting entrepreneur- ship among students. It invites various eminent entrepreneurs to deliver lectures to educate students about the joys and hardships of entrepreneurship.
Guest Lectures, Business Plan workshops Case study workshops, Knowledge Camps, patent workshops are conducted throughout the year to involve students in activities that are essential to an entrepreneur. E-Cell also actively incubates startup ideas by linking the right investors with the right entrepreneurs.
Example # 9. Kerala Startup Mission (KSUM):
It was formerly known as ‘Technopark Technology Business Incubator’, is the India’s first and most successful Non Academic Business Incubator, hosted and housed inside the Asia Largest IT Park Technopark. Technopark Technology Business Incubator (T-TBI), a joint association of Technopark, Trivandrum and the Department of Science and Technology (DST), Government of India, to help the technology business start-ups, started operation during 2007. KSUM is the pioneer champion among incubators which functions with a vision to support and nurture the startups in the state of Kerala.
It also is the first non-academic business incubator. The Technopark TBI spreads over 20,000 sq. ft is situated in the lush green and world class IT infrastructure, The Technopark, the biggest in the continent. Since launching in 2006, our family includes more than two hundred of India’s most promising startups.
“To become the best Technology Business Incubator in the Asia Pacific region by identifying and promoting the true innovators and entrepreneurial talents all over the region and to bring excellence to the early-stage companies through value enhancement services of technology and business incubation by imparting necessary training in technical & managerial skills to become successful Technopreneurs and Business Enterprises”
KSUM works to achieve the objective – “To identify entrepreneurial talents among youths and students to promote an entrepreneurial culture in Kerala”.
Example # 10. UnLtd India:
It was founded in the year 2007 and is located in Mumbai. UnLtd India is an incubator for social entrepreneurs. It is working with early-stage social entrepreneurs to help them to develop as leaders, accelerate their impact, Prepare their organisations for scaling and further investment. It has 4 key programs i.e. Incubation support, Bootcamp, Social Mashup and a national conference for early-stage social entrepreneurs.
Mission of UnLtd is “We find, fund and support exceptional individuals whose ideas, passion and entrepreneurial skills can bring about long-term solutions to India’s social problems”.
Incubation program provides seed funding, organizational and leadership support, access to follow-on funders, peers and experts. It has a Network Program to replicate their model across India through affiliate partners, who support social entrepreneurs in their city/state.
It supports social entrepreneurs at the beginning of their journeys (typically 0-5 years old). And works with them to Test, Build and Grow high impact products/services. It supports non-profit as well as social enterprise models.
The incubator wishes to Work with some of India’s most inspiring change makers and develop their talents as part of a vibrant team.
Example # 11. Srijan Capital:
Founded in July 2011, the Bangalore-based early stage investment firm has so far, invested in three companies, including mobile app provider Aurality and Consumer Daddy, a consumer complaints registration platform besides a startup in the event ticketing space. It is currently incubating online coupons and discounts startup Coupon Rani.
Srijan Capital is a seed stage incubation and investment firm started by Ravi Trivedi, that works on a rather unconventional model. Ravi also works as a Principal at Southeast Interactive Technology Funds, an early stage technology venture capital fund headquartered in North Carolina, USA. He is a charter member of TIE Bangalore and a Mentor/Advisor to IIM – A’s accelerator program.
It provides seed stage investment to technology startups. It target startups that are based out of India, or have India as a target market and its incubation period is for a year. It does Funding of INR 20 to 40 lakhs.
Srijan’s founder believes in the philosophy that India as a market has several opportunities, and several green field areas, so an entrepreneur has several opportunities to be the first mover. “We see a lot of first time entrepreneurs, and I recommend them creating a trusted set of advisors or mentors for your company. These advisors could be those who have gone through the experience, of have industry experience, and can help the entrepreneur in navigating the journey.
It focuses on Areas such as Ecommerce, SAAS, mobile, social media, and consumer internet.
Example # 12. Venture Center:
It was founded in the year 2006 and is located at Pune. The Venture Center is India’s largest science business incubator. The Venture Center is a technology business incubator specializing in technology startups offering products and services exploiting scientific expertise in the areas of materials, chemicals and biological sciences & engineering.
Venture Center strives to nucleate and nurture technology and knowledge-based enterprises by leveraging the scientific and engineering competencies of the institutions in the “Pune region” in India. The Venture Center aims to empower and enable scientists and engineers in pursuing technology, innovation and entrepreneurship objectives.
Its Focus areas include Technology startups offering products and services exploiting scientific expertise in the areas of materials, chemicals and biological sciences & engineering.
Its Mission is “To nucleate and nurture technology and knowledge-based enterprises for India, by leveraging the scientific and engineering competencies of the institutions in the region”.
Vision of Venture Center is – “To be the organization that will be credited with creating, shaping and sustaining a “Pune cluster” of innovative technology businesses with a significant economic impact regionally, nationally and globally within the next 20 years”
(a) Nucleation of new business by creating the environment and opportunities for know-how providers, entrepreneurs and financiers to meet each other and form business teams
(b) Nurturing businesses through their start-up phase by creating and running an efficient business incubator offering not only space but also access to technology support, business mentoring, networks, scientific and information resources, and a generally conducive and supportive environment.
(c) Promoting and running an active program for identification, creation, acceleration and translation (into practice) of technology ideas suitable for new venture creation.
(d) Running an active program in building and sharing resources, networks, competencies and special expertise in select areas at the interfaces of technology and innovation, business and entrepreneurship, and government and policy.