Types of incubators in India-Startup incubators play a vital role in startups to make sure it gets the nourish and support it requires. The economic development of India depends on the high-growth of innovation for business. It is the ultimate agenda behind economic growth. Now we are going to look into four essential incubators that are necessary for business development, startup growth and supporting innovation. These four main types of incubators in India are:
Startup India: Probably India’s most famous initiative with support extending to tech entrepreneurs. This initiative is not only financial funding but also one with guidance support. It first came into existence back in January 2016 and had ever since supported many startups. With its ‘Fund Of Funds’ program, startups have access to the funding it requires.
T-Hub: Telangana government’s initiative which is now India’s primary incubator, has now transformed Hyderabad into startup capital. As per a report, T-Hub has successfully supported a total of 346 startups with different entrepreneurs, capitalists, and vendors all interacting on the same platform now.
NSRCEL: It is probably the oldest business incubator for India providing support to entrepreneurs of every section or sector. This is one of the most renowned incubators with developmental support through funding and academic research.
CIIE: Centre for innovation incubation and entrepreneurship provides incubation to entrepreneurs of IT, healthcare and educational space. It is based in IIM Ahmedabad. They also have partnerships with INFUSE, accelerator, stay hungry stay foolish, and many more.
Khosla Labs: This Bangalore based startup incubator came into existence with a goal to incubate startups with retail solutions and financial inclusions. Vinod Khosla and Srikanth Nadhamuni founded Khosla Labs with a motto “Ideate, Prototype, Validate and Launch.” Novapay is incubated by Khosla Labs which now serves retail and banking solutions.
Wadhwani Centre for Entrepreneurship Development: This initiative was a bit older than the others with an initial launch back in 2008. They provide incubation to tech entrepreneurs and have already worked with Richcore Lifesciences and Orkash. This initiative is based in ISB Hyderabad.
10,000 startups: With NASSCOM as hosts, this corporate-based incubator aims to provide incubation, funding, and support to a total of 10,000 tech entrepreneurs. Google is a founding partner of this initiative promoting startups scaling on a global basis.
SAP Labs India: This initiative came into existence back in 2016, but ever since its inception, it has been providing incubation to tech development and entrepreneurship in the country. Some startups incubated by SAP Labs are Nike, BLUbirhc, AI, Ecolibrium energy and many more. How SAP works are different than others. They provide incubation to the startups for the first year, and in the later years, they give robust mentorship programs.