A Business Incubator is a facility designed to assist businesses to become established and sustainable during their start up phase. Typically, they do this by providing- shared premises, business advice, business services, access to investor, market and international networks, mentoring and a full-time, hands-on management team.
Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term.
The main goal of most business incubation programmes is to produce companies that create jobs and wealth in their communities. Business incubators nurture the development of entrepreneurial companies, helping them survive and grow during the start-up period, when they are most vulnerable.
Business incubators provide their resident companies with business support services and resources such as guidance, assistance with business planning and help obtaining financing. Incubators usually also offer companies rental space with flexible leases, shared basic office services and access to equipment all under one roof.
What makes a business incubator successful?
Incubator developers must first invest time and money in a feasibility study to lay the groundwork for a successful incubation programme. An effective feasibility study will help determine whether the proposed project has all the factors crucial to an incubator's success - a solid market, a sound financial base and strong community support.
Once established, model business incubation programmes commit to industry best practices such as structuring for financial sustainability, recruiting and appropriately compensating management with company-growing skills, building an effective board of directors, and prioritising management's time to place the greatest emphasis on resident assistance.
How do incubators help start-ups get funding?
Incubators help resident companies secure capital in a number of ways, including:
- Connecting companies with angel investors (high-net-worth individual investors).
- Working with companies to perfect venture capital presentations and connecting them to venture capitalists.
- Assisting companies in applying for loans.
- Assisting companies in accessing government agency (e.g. NZTE, Technology NZ) business assistance grant programmes.
List of Business Incubators in India
Name | Contact Person | Address | Contact Information |
---|---|---|---|
Centre for Innovation, Incubation and Entrepreneurship (CIIE) | Mr. Kunal Upadhyay - CEO | Indian Institute of Management, Vastrapur, Ahmedabad- 380015 | kunal@iimahd.ernet.in www.iimahd.ernet.in/ciie | /
Society for Innovation and Entrepreneurship (SINE) | Prof. N.L. Sarda- Professor in Charge | IIT Bombay, Powai, Mumbai - 400076 | nls@csc.iitb.ac.in www.sineiitb.org | Direct: 25767710
TBI ON EMBEDDED SYSTEMS AND VLSI DESIGN | Prof.S, Gurunarayanan Co-ordinator, TBI | Birla Institute of Technology and Science, Pilani - 333031 Rajasthan. | sguru@bits-pilani.ac.in www.bits-pilani.ac.in | Extn: 252
TBI for Composites | Dr.R. Gopalan, Executive Director | Composites Technology Park, 205, Bande Mutt, Kengeri Satellite Township Bangalore-560060 | drgopal@blr.vsnl.net.in | , 56681005
Centre for Biotechnology | Dr. S. Meenakshisundaram- Business Manager | Centre for Biotechnology, Anna University Chennai - 600025 | meenakshi@annauniv.edu www.annauniv.edu/biotech | ,
MITCON Biotechnology Centre | Mr. Kulkarni - Chief Executive | MITCON Biotechnology Centre, BAIF Campus Mr. Manibhai Desai Nagar Pune - 411052 | kulkarni@mitconbt.com www.mitconindia.com |
National Design Business Incubator | Mr. Mahesh. K Rovvidi - Chief Operating Officer | National Institute of Design (NID), Paldi, Ahmedabad - 380007 | ndbi@nid.edu www.ndbiindia.org | Extn 5001
Vellore Institute of Technology | Mr. A. Balachandran, Manager- TBI | VITTBI, Vellore Institute of Technology, Vellore-632014 | vittbi@vit.ac.in www.vittbi.com | - Direct
National Institute of Technology, Calicut | Mr. A.V. Francis, Officer on Special Duty, TBI | National Institute of Technology, Calicut - 673601 kerala | avf@nitc.ac.in | ,Direct - 2286604
J.S.S. Mahavidyapeetha | Prof. R. Raghunanadan - Chief Executive | J.S.S. Academy of Technical Education, C-20/1, Sector -62 Noida 201301 | ce@jssstepnoida.org www.jssstepnoida.org |
ICRISAT | Mr. S. Karuppanchetty - Deputy COO, Mr. Abdul Rahman Ilyas - COO | ICRISAT, 303 Bldg, Patancheru 5023224 | karuppanchetty@cgiar.org |
Kongu Engineering College | Prof. S. Balamurugan- Executive Director - TBI | Kongu Engineering College, Perundurai -638052, Erode, Tamil Nadu. | balamurugan@kongu.ac.in | , 220171, Direct 226650
Advance Materials Technology Incubator | Mr. Sanjay Bharadwaj - Co-ordinator | International Advance Research Centre for Powder Metallurgy & New Materials RCI Road, Opp. Ballapur Village, Hyderabad - 500005 | 91-40-24457104-7 |
Center for Entrepreneurship - SPJIMR | Prof. M. Suresh Rao - Program Co-ordinator | S.P. Jain Institute of Management & Research, Munshi Nagar, Dadabhai Road, Andheri (West), Mumbai - 400 058. | msrao@spjimr.org www.spjimr.org/cen tre_entrepreneurship/hom e.asp | / 0396 / 2401 Ext: 211
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