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Startup incubators
- 1. STARTUP INCUBATORS -AS AN OPPORTUNITY FOR ENTREPRENEURSHIP -DEEKSHA TIWARI ADITI KOUNDLE MANISHA KHIWAL
- 2. WHAT ARE BUSINESS INCUBATORS • A BUSINESS INCUBATOR IS A COMPANY THAT HELPS NEW AND STARTUP COMPANIES TO DEVELOP BY PROVIDING SERVICES SUCH AS MANAGEMENT TRAINING OR OFFICE SPACE. • THE ULTIMATE GOAL OF INCUBATION IS TO LAUNCH PROFITABLE, SUSTAINABLE ENTREPRENEURIAL COMPANIES. • INCUBATORS CAREFULLY SCREEN POTENTIAL BUSINESSES BECAUSE THEIR SPACE, EQUIPMENT, AND FINANCES ARE LIMITED, AND THEY WANT TO BE SURE THEY'RE CHOOSING TO NURTURE BUSINESSES WITH THE BEST POSSIBLE CHANCE FOR SUCCESS. • THERE ARE APPROXIMATELY 900 BUSINESS INCUBATORS NATIONWIDE
- 3. • I – INNOVATION & ENTREPRENEURSHIP • N – NETWORKS AND COLLABORATION • C – COMPETITIVENESS • U – UNDERSTANDING THE ROLES (PUBLIC / PRIVATE SECTOR) • B – BUY -IN • A – ACCESS TO RESOURCES • T – TECHNOLOGIES • O – OUTREACH • R – REVIEW : MONITORING AND EVALUATION
- 4. • INCUBATORS PROVIDE: • INFRASTRUCTURAL SUPPORT I.E. OFFICE SPACE, MEETING ROOM • PLATFORM TO DO NETWORKING • MANAGEMENT ASSISTANCE • OTHER SUPPORT SERVICES, SPECIFIC TO INCUBATORS
- 6. SOME INCUBATORS START UP COMPANIES IN INDIA • NSRCEL, IIM BANGALORE • CIIE, IIM AHMEDABAD • SINE, IIT BOMBAY • TECHNOLOGY BUSINESS INCUBATOR (TBI), IIT BHU, VARANASI • SIDBI INNOVATION & INCUBATION CENTER, IIT KANPUR • RURAL TECHNOLOGY BUSINESS INCUBATOR (RTBI)
- 7. SERVICES PROVIDED BY INCUBATORS AMONG THE MOST COMMON INCUBATOR SERVICES ARE: • HELP WITH BUSINESS BASICS • NETWORKING ACTIVITIES • MARKETING ASSISTANCE • HIGH-SPEED INTERNET ACCESS • HELP WITH ACCOUNTING/FINANCIAL MANAGEMENT • ACCESS TO BANK LOANS, LOAN FUNDS AND GUARANTEE PROGRAMS • HELP WITH PRESENTATION SKILLS • LINKS TO HIGHER EDUCATION RESOURCES • LINKS TO STRATEGIC PARTNERS • ACCESS TO ANGEL INVESTORS OR VENTURE CAPITAL • COMPREHENSIVE BUSINESS TRAINING PROGRAMS
- 8. FOUR PHASES OF BUSINESS INCUBATION Pre Incubation Early Stage Classic Incubation Graduation
- 9. PRE INCUBATION > RESEARCH SUPPORT, TRAINING, BUSINESS PLANNING EARLY STAGE > ADVICE, MARKETING, TECHNICAL, LEGAL, ACCOUNTING CLASSIC INCUBATION > ACCOMMODATION, FUNDING ACCESS, NETWORK, SUPPORT GRADUATION > MARKETING CLOSE SUPPORT
- 10. REASONS TO JOIN BUSINESS INCUBATORS 1. SEAL OF APPROVAL. 2. ADMINISTRATIVE SUPPORT 3. FACILITIES 4. CROSS FERTILIZATION 5. MENTORSHIP AND PROFESSIONAL SERVICES 6. ACCESS TO CAPITAL 7. CONNECTIVITY
- 12. THE KEY INGREDIENTS • CERTAIN INGREDIENTS SEEM NECESSARY FOR SUCCESSFUL INCUBATION. • A STRONG LOCAL BUSINESS INFRASTRUCTURE IS CRUCIAL. • RESOURCES SUCH AS FREE MENTORS, ENGAGEMENT WITH LOCAL ENTREPRENEURS AND LEGAL, FINANCIAL AND MARKETING SERVICES ARE ALSO VITAL FOR SUCCESS.
- 13. THE CHANGING ROLE OF STARTUP INCUBATORS • UNDOUBTEDLY, INCUBATORS BRING BENEFITS TO ALL STAKEHOLDERS IN THE INNOVATION PROCESS. THEIR ROLE IS TO CREATE SHARED PROSPERITY. ENTREPRENEURS GAIN A RANGE OF BENEFITS THAT HELP THEM INCREASE THEIR CHANCES OF CREATING SUSTAINABLE COMPANIES, WHILE EARLY-STAGE INVESTORS BENEFIT FROM ACCESSING A BUNDLE OF HIGH-QUALITY STARTUPS THAT HAVE ALREADY RECEIVED PROFESSIONAL ADVICE. • CORPORATIONS ARE ALSO STARTING INCUBATION PROGRAMMES, AS IT PROVIDES THEM WITH A PIPELINE OF POTENTIAL ACQUISITION TARGETS. AND PROFESSIONAL SERVICES COMPANIES CAN BUILD THEIR FUTURE CLIENT BOOK BY PROVIDING FREE ADVICE TO NEW BUSINESSES. • THE ROLE OF STARTUP INCUBATORS WILL CONTINUE TO EVOLVE. AS WELL AS HELPING NEW BUSINESSES SURVIVE, INCUBATORS ARE BEGINNING TO ADD VALUE TO STARTUPS AND BENEFIT THE WIDER BUSINESS ECOSYSTEM.
- 14. UNLTD INDIA • A STARTUP INCUBATOR FOR SOCIAL ENTREPRENEURS OFFERING BOTH FINANCIAL AND ADVISORY SERVICES. UNLTD INDIA STARTED IN MUMBAI IN 2007 BY POOJA WARRIER AND RICHARD ALDERSON OFFERS A COMPLETE ECOSYSTEM OF SEED FUNDING, INCUBATION SUPPORT AND CO-WORKING SPACE, HELPING EARLY-STAGE SOCIAL ENTREPRENEURS TO TURN THEIR DREAMS INTO REALITY. RUNNING FOUR KEY PROGRAMMES, STARTUPS CAN CHOOSE A PROGRAMME TO MEET THEIR NEEDS. THE PROGRAMMES INCLUDE INCUBATION SUPPORT, BOOTCAMP, BOMBAY CONNECT – A LABORATORY AND CO-WORKING SPACE AND SOCIAL MASHUP – A NATIONAL CONFERENCE FOR EARLY-STAGE SOCIAL ENTREPRENEURS. • THE CORE INCUBATION SUPPORT MODEL IS DESIGNED TO PROVIDE TWO LEVELS OF SUPPORT. LEVEL 1 SUPPORT IS FOR THOSE WHO HAVE AN IDEA OR PILOT STAGE PROJECT WHERE UNLTD INDIA OFFERS THEM A GRANT OF UP TO 80,000/- AND AN AVERAGE OF 160 HOURS OF HANDS ON SUPPORT OVER THE COURSE OF THE YEAR. LEVEL 2 SUPPORT IS FOR THOSE WITH EARLY-STAGE LOCALLY BASED PROJECTS, WHICH HAVE THE POTENTIAL TO CREATE LARGE SCALE, SUSTAINED IMPACT. UNLTD INDIA OFFERS THEM A GRANT OF UP TO RS. 2 LAKHS AND AN AVERAGE OF 220 HOURS OF HANDS ON SUPPORT OVER THE COURSE OF THE YEAR. • UNLTD INDIA ALSO RECENTLY ADDED A LEVEL 3 SUPPORT CALLED THE GROWTH CHALLENGE THAT TARGETS STARTUPS WITH A PROVEN MODEL READY TO SCALE. AS IT IS STILL IN THE EARLY STAGE OF DEVELOPMENT THE UNLTD INDIA NETWORK WILL FOCUS IN THE NEAR TERM ON LEVEL 1 AND 2 SUPPORT ONLY. • APPLICANTS MUST BE BASED IN MUMBAI, THANE, PUNE, SOLAPUR, RAIGARH, SATARA OR AHMADNAGAR. THE ORGANIZATION SHOULD NOT BE LEGALLY REGISTERED FOR MORE THAN FOUR YEARS. APPLY RIGHT HERE.
- 15. STARTUP VILLAGE • INDIA’S FIRST INCUBATOR THAT IS FUNDED BY THE PUBLIC AND PRIVATE SECTOR. IT IS A TECHNOLOGY INCUBATOR LOCATED IN KOCHI. STARTUP VILLAGE PROVIDES A PLATFORM FOR YOUNGSTERS TO CREATE THE LATEST TECHNOLOGY IN TELECOM SECTOR. THEY DO PROVIDE FUNDING FOR STARTUPS. LAUNCHED AN INITIATIVE PROGRAM CALLED SVSQUARE WHERE YOUNG ENTREPRENEURS FROM INDIA ARE SENT ON AN ALL-EXPENSE PAID TRIP TO THE U.S, EXPOSING THEM TO THE STARTUP ENVIRONMENT IN SILICON VALLEY. STARTUP VILLAGE ALSO RUNS AN EDUCATIONAL CAMPAIGN, DEV1000P TO CREATE 1000 PROFESSIONAL APP DEVELOPERS. THIS PROGRAM IS OPEN TO COLLEGE STUDENTS ALL OVER THE COUNTRY. • THE INCUBATION PROCESSING FEE IS RS.2000 AND IF SPACE IS AVAILED THEN RS. 1000 PER MONTH PER SEAT (MEMBERSHIP – RS.10, 000). THE INCUBATION IS FOR THREE YEARS WHERE ENTREPRENEURS ARE PROVIDED WITH MENTORING, ACCESS TO TECHNOLOGY, SUBSIDISED BUSINESS SERVICES THROUGH PARTNER NETWORK AND INTRODUCTIONS TO POTENTIAL INVESTORS.