Incubators are key stakeholder in the startup ecosystem of any country. According to the “Fuelling Entrepreneurship” report published by the Department of Science and Technology (DST), there were 68 technology business incubators, 38 business accelerators/incubators in the country as of 2014. In addition, according to the recently released Start-up India Action Plan, 35 new incubators are planned to be set up on a PPP basis and 50 new bio-incubators are planned to be established though the Biotechnology Industry Research Assistance Council (BIRAC).
Below are seven startup/ business incubators recently launched in India, in last one year.
American technology firm Nvidia’s Inception is a virtual incubator program to support startups with revolutionary ideas in Artificial Inttelligence (AI) and Data Science. It helps members during critical stages of product development, prototyping, and deployment.
Support/ Grants – Selected startups will receive a custom set of benefits, from hardware grants and marketing support to access to the latest Nvidia deep learning technologies and training with deep learning experts.
Launched in December 2016, Satoshi Studios is South East Asia’s first blockchain incubator backed by a bitcoin company, GBMiners. It has a 3-month intensive residence program in New Delhi for startups from south-east Asia region.
Support – Selected startups will get 50,000 USD in funding for 8%-15% equity in the company.
Launched in October 2016, ThinQbate is a community-based startup incubator with a focus on giving individuals the autonomy and resources to grow. The idea is to let the entrepreneur focus on their core product, while the incubator will help them with everything else.
Support – Coworking space with facilities like desks with high bandwidth WiFi access, conference rooms, printers, cafe, relaxation zones and potential funding.
Launched in September 2016 by Jagan Institute of Management Studies Founder Manish Gupta UDGAM is a business incubator which aims to nurture fifty early stage startups across Delhi and Jaipur. The selected startups are given an opportunity to be a part of Udgam’s Incubation Program at Gurugram and Jaipur for six months, to be a part of an Entrepreneurship course of six weeks and also be provided financial support through seed-funding.
Support/ Grants – Office space, assistance in marketing, networking, logistics, mentoring and recruitment and capital funding.
Plugin by Intel
Bengaluru & Mumbai
Jointly organized by Govt. of India’s Department of Science & Technology and SINE of IIT-Bombay, Plugin is a one-of-its-kind incubation program exclusively for hardware startups in India. It provides incubation support for hardware & system startups in India with a focus on moving from proof of concept to final product that can be taken to market.
Support – Upfront cash support of 10 lakhs per startup and an additional 10 lakhs of equity/convertible equity funding will be offered to each team during the program.The selected startups will also get access to Intel India Maker Lab in Bengaluru & SINE facilities in Mumbai.
Business Incubator Program by National Instruments
Launched in April 2016, National Instruments India’s Business Incubator Program aims to provide increased access to its technology, technical training and support to shared local communities like domestic small and medium-sized enterprises (SMEs), academic incubation centers and startups.
ISEED by IRMA
Launched in August 2016, The Incubator for Social Enterprises and Entrepreneurs for Development (ISEED) at Institute for Rural Management Anand (IRMA) is an incubator specifically for development of rural people through professional management that is why it focus on startups working in agriculture and allied practices. The three verticals of ISEED are:
1. Agriculture and small agribusiness
2. Sustainable habitats and sanitation
3. Servicing rural India covering rural tourism, clean energy, education and ICT.
Support/ Grants – The incubators offers its incubatees a nurturing and empathetic entrepreneurial ecosystem through mentoring and networking support, collaborative research, entrepreneurship training and capacity building.
[Top-most Image – Shutterstock]