Incubators support at initial phase to start and settle the business and accelerators helps to fuel the setup to grow in a fast pace of technology, MSME sectors, Industries, Products & Services. Startup incubators are a growing trend and a great thrust to support first time entrepreneurs across the world. There are all kinds of efforts in this direction – Government supported Institute based technology incubators, Private business incubators started by industry veterans and startup accelerators supported by companies and VC funds.
Individually there are differences between how they incubate, structure the program, operate, support/fund and accelerate the ventures. Incubator support the startup with necessary infrastructure, technology, prototype development, research assistance, help in getting funding assistance in business consulting, registration of firm, sales & marketing strategy and other necessary support. Growth through innovations and application of technology create startup eco system to foster innovation, concept creation, product development with an object to nurture successful technologies. To support holistic support environment to potential studies & entrepreneurs to translate their dreams into reality. Perspective entrepreneurs to convert their innovative ideas in to commercially viable products. Green technology, clean technology, waste to wealth, water & sewerage management. To foster innovation, research and entrepreneurial activities. Provide support & create environment to translate knowledge and innovation into creation of successful entrepreneurs information & mentoring Enhance communication and professional skills by interacting with recognized professionals.
Accelerators accelerate the speed of your business. In most cases an existing business or an idea. The programs are short and intense. Whereas incubators incubate your early pre-product idea, help you make a prototype, and further make a product out of it. The engagement is longer than an accelerator. Our business model has turned into a combination of an incubation center and a digital platform where we serve two markets, the startups – for whom we act as the incubator – and the investors, for whom we act as the investment portfolio management advisor. This is the platform created for start-ups and motivated individuals to present their innovative products, technologies, ideas at incubation stage, to potential investors, research heads, VCs and industry captains to explore funding, investments and collaborative opportunities. The audience would usually be represented by Industry Leaders, Domain Experts, Venture Capitalists, Investors and Policy Makers.
Worldwide, the Micro Small and Medium Enterprises (MSMEs) have been deemed as the engine of economic growth facilitating job creation at the grass roots, balancing economic development, inclusive growth and more importantly fostering and bolstering the spirit of entrepreneurship which is critical for a nations' economy. Indian MSMEs face enormous challenges in terms of productivity, technology upgrading and establishing a credible foothold in the global arena. MSMEs have to consistently scale up efforts to fuel manufacturing, innovate products / technologies, reconfigure and customize with creativity, assured quality and value addition to enhance the share in domestic and global market.