Startup incubators have been around from the time when companies started joining the corporate world. These organizations are known to offer seed capital to startups that are all set to serve the customers. Entrepreneurs today might get stuck with their startup journey due to a lack of efficient funding assistance. They can start seeking angel investors, accelerators, VC firms, etc. Although each of them has its own benefit, you should know the potential of startup incubators. In this article, I will give a detailed explanation on startup incubators.
A Detailed Explanation On Startup Incubators
These are some modern organizations that offer startups with necessary resources so that they could run their business smoothly. Startup incubators are known for giving the guidance required from the time a startup begins its journey to the time it emerges as a successful one. The resources offered by them can range from office space, seed capital to the network of other investors and potential customers. However, the most important asset they possess is the years of experience to build a successful business.
Popularity Of Startup Incubators In India So Far
Startup incubators have shown popularity while offering seed funding for startups in India. Several startup incubators exist in India which are supported by either government or private organizations. Among them, some are focused on a single industry, while others might be available for every industry that exists in today’s modern world. You should have a brilliant business idea and startup incubators are always there to help you. All the metropolitan areas have startup incubators to back startups from all over the country.
4 Different Types Of Startup Incubators
1. Incubators Backed By Government
These are the incubators that are ready to offer seed capital to startups which seem to have a bright future in the country. Mostly, tech startups are the ones who are able to secure investment from government bodies. Tech startups have already gained traction in the country, and startup incubators are ready to help them with all the resources. The most famous startup incubator by the government in the country is Startup India.
2. Incubators Backed By Private Organizations
Some private organizations might feel other startups could have more potential to give more benefits in the future. Thus, they start investing in some of the new businesses. Besides tech startups, incubators supported by private owners could also back retail solutions. Startups working in the retail industry have a huge chance to grow in the country.
Academics have always been a popular choice of investment among several startup incubators. Some of the IIMs are ready to provide education and experience in the field of healthcare and management services. However, they are not willing to offer money as openly as other startup incubators we have seen before. Startup incubators backed for academics are more involved in providing industry knowledge.
This is the last one in the list of types of startup incubators. Just like startup incubators backed by the government and private organizations, the ones backed by corporate institutions are ready to support most of the tech startups. They can also help accelerate other organizations that are ready to be a part of the IT industry. Startups can get mentoring and network support from corporate incubators.
Some Startup Incubators In India
This is the list of some of the popular startup incubators that are serving within the country. Each of them has targeted a different industry.
- Agri Business Incubator – The organization is located in Andhra Pradesh, and is supporting all the business related to agriculture.
- IITGTIC- The organization is located in Assam. IITGTIC is supporting startups in IT, mechanical, healthcare, and renewable energy industries.
- Business Incubation Centre- The organization is located in Bihar. Until now, this incubation support is helping companies dealing with electronic system design.
- CIBA- This organization is located in Goa. CIBA deals with industries such as food processing, information, and communication technology, and clean technologies.
- NSIC- The organization is located in the capital of India, Delhi. NSIC supports the industries dealing with energy and pump manufacturing.
- ARSDSTAR – ARSDSTAR is also located in Delhi. It provides support to startups from industries such as mobile computing, web technology, power system, ICT, nanomaterials, and so on.
To Sum Up
So far, we have gone through a detailed explanation on startup incubators. Also, we have seen that the tech industry has bagged most of the incubation support in India. This is enough to indicate the country has very high expectations from the prevalent and emerging technologies. Now, the startup incubators are also providing support to any entrepreneur who is building a marketplace startup. Due to an increase in the use of the internet, eCommerce has also gained traction in the country and across the globe. People love to shop online with just a few taps and clicks on their smartphones. Moreover with such support, it is expected that the tech and eCommerce industry will only grow without any obstacle in the future.