Startup Journey for the Entreprenuer is always been challenging, where entrprenuers have multiple questions on how to start, legal framework, compliance, scalling up, market opportunities and many more doubts which need to be handled carefully.
How about someone will always be there around to support you to answer and support business owners ? It will indeed make the roads much more easier when owners are mentored by domain experts, isnt it…..thats what Incubators do !
Whether you are just getting started or are looking to startup, incubators can serve as a great platform to provide that much-needed support and push to build a solid foundation. Many people confuse incubators and accelerators. However, the difference lies in the name. Similar to an incubation chamber, incubators help the seeds of startup ideas germinate and evolve into the beginnings of future organisations. On the other hand, accelerators “accelerate” already nascent startups into maturity. Incubators tend to be slightly long-term associations while startup founders find their calling, while accelerators focus on fast growth in a relatively short time.
These Incubators are empowered with support from Govt. of India’s Startups Aspiration Fund. The above pool of capital is available for the startups under management of incubator institutions.
Here is the list of prominent incubators which providing nurturing and handholding support in the startup eco-system to build successful ventures ahead !
- Indian Angel Network (IAN) Incubator : IAN has established an Incubator with the support of National Science and Technology Entrepreneurship Development Board, Department of Science & Technology, Govt. of India. This Incubator helps techno-preneurs and entrepreneurs in stabilizing the product or service, business planning and formulating the market strategy while providing complete support in making the business plan operational. It also helps in accessing seed funding, team building, providing strategic and operational guidance, marketing and promotion, advisories on IP and investment for the entrepreneurs to grow their venture. Startups can access various sources of funding including the Indian Angel Network (IAN), which is India’s largest group of Angel investors having 125 active investors, providing funding up to $1 million.The incubation period is for a period of 18 to 24 months. A winning application will be eligible for incubation. The selection process may take up to 90 days. Their preferred sectors include 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 and Retail Technology.If you are already being incubated elsewhere, you can join the IAN Incubator by availing the facilities provided by the IAN remotely.Email your business plan at Incubator@indianangelnetwork.com.
- AngelPrime : Focusing on startups in the middle that need seed capital, AngelPrime is hugely passionate about supporting startups and invest in not more than 3-4 companies a year. It is for those startups targeting global markets in the US, Europe, Asia and Africa. AngelPrime operates in the Scale Hacking phase of startup, where the startup iterates and fine tunes the product as well as increase the customer base to meaningful numbers. AngelPrime welcomes startups who are working on an idea, built an early version of the product and have some attraction. In addition, you should have atleast one co-founder in place, your business should have a big market potential and you should have a passion to work 7 days a week, 16 hours a day on your startup. If you are an entrepreneur and meet the aforementioned criteria, you can apply by emailing a brief description about your background with LinkedIn profiles and a brief description of the product to firstname.lastname@example.org right away.
- iCreate : The International Centre for Entrepreneurship and Technology (iCreate) 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). The centre conducts programs to groom potential candidates, facilitate the incubation of the business idea, mentoring, networking and seed funding. It has an advisory board chaired by Shri N.R. Narayana Murthy and other eminent experts from academia and industry.The centre operating from GMDC building in Ahmedabad 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. February 2014 batch has already started. Contact Devesh Rathore (Devesh@icreate.org.in) to enquire about the next batch and other details.Aspiring entrepreneurs with or without a project idea or team can click here to apply for grooming and incubation program.
- Khosla Labs : A startup Incubator founded by Vinod Khosla and Srikanth Nadhamuni in 2012, Khosla Labs is located in Bangalore, offering a platform for creative and driven entrepreneurs with ideas to test and experiment. The project gets funded by the Khosla Ventures seed fund based on the project traction and business plan. Khosla Ventures’ mission is to assist great entrepreneurs determined to build companies with lasting significance. Khosla follows a new model, Entrepreneurs In Residence (EIR), which is integrated to the core team. The core team brainstorms and comes up with several ideas and design in house products. Then comes the prototyping, the pilot tests and market validation.Khosla Labs, a tech Incubator, is looking to create and nurture startups using technology and entrepreneurial zeal to address key challenges.
- 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.If your startup is not located in Kochi, you have the flexibility to work from your own facility. You can email at email@example.com for further details.
- Villgro : Co-founded by Paul Basil who was awarded the Ashoka Fellowship in 2002 for his outstanding social entrepreneurship, Villgro was recognized as an Incubator under the Dept. of Science and Technology and Ministry of Micro-Small Medium Enterprises, Government of India. The incubation and investment programme offers early-stage enterprises with services required to commercialize their inventions and grow. The services include mentoring, fellowship, funding and networking. Incubation application form is here.
- Venture Center : It is a technology based Incubator and is the trademark of Entrepreneurship Development Center, a non-profit company hosted by the National Chemical Laboratory, Pune, India. Venture Center nurtures startups by giving not only space but also provides access to technology support, business mentoring, networks, scientific and information resources. The focus areas include material science, chemical synthesis, biomedical sciences and technology, chemical and process engineering, research, technology and knowledge management.Technology Development Board (TDB) seed fund at Venture Center is now open to receive investment proposals as part of Round 8. The application deadline is May 30th, 2014. The minimum financial assistance to the incubated entrepreneur is Rs. 1 lakh while the maximum is Rs. 25 lakhs. To know more about applying at Venture Center, just click here.
- Startup centres: These are incubation centres that have been set up in association with the institutes listed below. They foster startups within a student-driven environment, providing a funding of Rs 50 lakhs per year for three years.
NIT Agartala NIT Patna IIITDM Kancheepuram NIT Silchar NIT Goa NIT Arunachal Pradesh PDPM-IIITDM Jabalpur IIT Bhubaneswar VNIT Nagpur MNNIT Allahabad NIT Delhi RGIIM Shillong ABV IIITM Gwalior
- Atal Innovation Mission (AIM)An initiative launched by NITI Aayog, the Atal Innovation Mission has set up Atal Incubation Centres (AICs) across the country that are going to facilitate around 500 labs, providing a grant of Rs 10 crores for a period of five years. AIM’s Self-Employment and Talent Utilization (SETU) programme is part of the Government of India’s prime undertaking to promote a culture that envelops innovation and entrepreneurship. Its objective is to serve as a platform for the promotion of world-class innovation hubs, grand challenges, start-up businesses, and other self-employment activities, particularly in technology-driven areas.
AIM also provides scale-up support of Rs 10 crore over a period of two years to established incubation centres. In 2017, NITI Aayog selected five additional incubators to be funded under this mission – the bio-incubator at C-CAMP, NIT TREC STEP, Amrita TBI, NSRCEL, IIM Bangalore, and 91springboard.
- Ministry of Electronics and Information Technology (MeitY)Through the Ministry of Electronics and Information Technology’s Technology Incubation and Development of Entrepreneurs (TIDE) scheme, startups that function in the technology domain can avail incubation assistance. The total grant-in-aid on offer is Rs.155 lakhs, where Rs 125 lakhs is used to support the incubation and the rest is for development of infrastructure. TIDE centres have also become hotspots for VCs and investors who provide extensive networking and growth opportunities. The TIDE centres are listed below:
- Society for Innovation and Entrepreneurship (SINE), IIT Bombay
- Amrita Technology Business Incubator (Amrita-TBI), Bengaluru
- Technology Innovation and Incubation Centre (TIIC), Atal Bihari Vajpayee Indian Institute of Information Technology & Management (ABV-IIITM), Gwalior
- Foundation for Innovation and Technology Transfer(FITT), IIT Delhi
- Entrepreneurship Development Cell (EDC), Banasthali Vidyapith