These #6 Indian, State-led Incubators are Helping Start-ups Kick off
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India is witnessing a growing trend of companies investing in new technologies. Two-three new start-ups are mushrooming every other day. The government, on its part, is implementing a number of new schemes every year, for the ease of doing business to present India as an attractive investment destination, conducive for start-ups to flourish.
Several business incubators have come forward to support and mentor entrepreneurs. They are offering services to young start-ups. Almost every business school has taken a step forward in forming an incubation center for aspiring student entrepreneurs, geared up to build their own start-ups.
Here is a list of six such government-recognized centers in India that work in tandem with state governments to help budding entrepreneurs understand the basics of the eco-system.
Kerala's Startup Village:
Start-up Village is a not-for-profit business incubator based in Kochi, Kerala in India. Kerala Start-up Mission was launched in April 2012 to facilitate the setting up of 1,000 technology start-ups over the next 10 years start searching for a potential billion dollar company among them.
It is based on the public-private-partnership model and is a joint effort of the government of India through its Department of Science and Technology wing, Techno-park TBI and the latter's host institute MobME Wireless. Start-up Village provides young business minds workspace, high-speed internet connection, legal and intellectual services and access to high-profile investors.
Gujarat’s CIIE :
Indian Institute of Management- Ahmedabad's (IIM-A's) technology business incubator Centre for Innovation Incubation and Entrepreneurship (CIIE ) helps entrepreneurs turn ideas into viable businesses.
Founded in 2007, the incubator is supported by the Gujarat Government and Department of Science and Technology to promote entrepreneurship in India. It also engages with prominent players across the technology sector. It effects changes in areas like energy, environment, agriculture, healthcare and affordable technology. Healthcare is one of the key areas of focus of CIIE, which has invested an undisclosed amount in two healthcare start-ups this year.
iCreate - Gujarat
iCreate, an incubator setup through public private partnership in Gujarat blends creativity, innovation, engineering, product design and leverages emerging technologies to evolve out-of-the-box applications.The incubator of the Government of Gujarat, set up under Prime Minister Narendra Modi's vision has diverse activities for students, faculties, aspiring entrepreneurs - who wish to learn more about next gen entrepreneurship. Last year, US-based technology major Cisco inked two agreements with International Centre for Entrepreneurship and Technology (iCreate) and GIFT in Gujarat for setting up an IoT innovation hub and a smart city project.
Hyderabad's T-Hub :
Hyderabad-based T-Hub (Telangana Hub) is a unique incubator, a product of the collaboration of the Government of Telangana, three of India's leading academic institutes -- IIIT-H, ISB & NALSAR-- and the private sector. The incubator is building a booming start-up ecosystem. This year telecom equipment company Qualcomm has signed a MoU with T-Hub to encourage new business ventures in the domain of mobile, Internet of Things (IoT), biometrics and wireless technologies.
Villgro Innovations Foundation, Chennai
Villgro is India's oldest and foremost social enterprise incubator. Villgro funds, mentors and incubates early-stage, innovation-based social enterprises that impact the lives of India's poor. Since 2001, Villgro has incubated 119 such enterprises, which have secured Rs 1195 million in follow-on funding, and touched over 15 million lives.
Villgro was recognised as an incubator under the Dept. of Science and Technology and Ministry of Micro-Small Medium Enterprises, Government of India.
XLr8 Andhra Pradesh Technology Business Accelerator
As an integral part of its Innovation and StartUp Policy, the Government of Andhra Pradesh created XLr8 Andhra Pradesh Technology Business Accelerator (XLr8AP), a joint venture with the Innovation Society of the Government of Andhra Pradesh, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the IC2 Institute of the University of Texas at Austin.
XLr8AP is working with technology startups in advanced capacity building, acceleration into the global marketplace and mobilization of venture capital. Their primary goal is to increase knowledge, wealth and employment in the State and beyond, as well as to establish collaboration with universities and their respective student populations to achieve the goal of the Government of Andhra Pradesh to develop “one entrepreneur per family.”