The campus is the new powerhouse of ideas. Make yours too. It doesn’t cost all that much to set up a business incubator
Campus incubators are, simply put, launch-pads for business ideas of students staff and alumni. They provide a mentoring environment and easy access to college faculty and facilities.
The basic infrastructure comprising space, electricity and internet connectivity can be set up at the cost of just under Rs 11 lakh. Additional funds would be needed for faculty, support staff, research equipment and the like. Where there are well equipped college laboratories and workshops, this component could be reduced by sharing these.
| DARE/estimates | |
| Total no. of colleges in India: | 13,000 |
| Assumption: 1/4th of this number open incubators in their campuses. | |
| Estimated No. of campus incubators | 3,250 |
| Assumption: Each incubates on an average 3 projects for a gestation period of 2 years. | |
| Each project on an average consists of 3 student entrepreneurs | |
| Estimated No. of projects under incubation every year | 4,875
|
| Estimated No. of incubatee entrepreneurs every year | 14,625 |
| No. of successful start-ups for varying success rates | |
| 10% | 487 |
| 20% | 975 |
| 40% | 1,950 |
| 60% | 2,925 |
| DISCLAIMER: This data and analysis are indicative and Cybermedia makes no warranties about its accuracy. You are advised to do your own analysis if you are evaluating a similar venture. | |
A number of reputed institutes of the country have taken the lead in establishing campus incubators. TeNet group IIT Madras, Technology Business Incubation Unit (TBIU) IIT Delhi, Society for Innovation and Entrepreneurship (SINE) IIT Bombay, TREC-STEP Business Incubator NIT Tiruchirapalli, Center for Innovation, Incubation and Entrepreneurship (CIIE) IIM Ahmedabad and NS Raghavan Entrepreneurial Academy IIM Bangalore, etc. are a few examples. These incubators are still in their nascent stages with most of them being established around five to six years back. Considering how little time they have been in business, they have a good track record, churning out on an average of 3 successful new companies every 2 years. Most of these campus incubators are joint endeavors by alumni and the college.
Assume each of the 13,000 colleges in India invests Rs 11 lakh for establishing a basic incubator in its campus. You will end up creating an ecosystem worth Rs 1,500 crore, built exclusively for nurturing start-ups in the country! Assuming even one-fourth of these 13,000 colleges decide to set up incubators in their campuses, the impact would be humungous! An incubator needn’t be a huge infrastructure equipped with the latest R&D and other state-of-the-art facilities. You can start off your campus incubator with a small spare room. Call that an incubator. As long as it can provide easy access to college faculty and facilities, it is an incubator for all aims and purposes.The investment for an incubator can be raised through government grants or alumni donations. IIT Delhi, for example, secured around Rs 95 lakh through government grants for supporting the activities. The government has now formulated a scheme to set up around 100 incubators in the country to encourage the development of new businesses. It has earmarked a budget of Rs 1.13 crore for 2007-08 for providing grants to 50 universities and training institutes for setting up these incubators! Many banks and private equity firms now realize the crucial role incubators play in developing new businesses and have come forward to fund them. For logistical information and support, you can approach institutions such as the Indian Institute of Entrepreneurship (IIE) and the Entrepreneurial Development Institute (EDI) which hold special workshops and mentorship programs for entrepreneurs. The National Entrepreneurs Network, an initiative by Wadhwani Foundation, provides an extensive support system for entrepreneurs.
Subscribe to this comment's feed
written by Chandan Agrawal, September 06, 2011
written by nfl football jerseys, October 18, 2010
Hope visiting this page will grab your trust, all anyone really wants is a trustworthy supplier who they can count on to deliver on quickly, correctly, and top quality every time!
written by Sunil Malhotra, August 18, 2009
written by Karan Gupta, April 07, 2009
Kindly contact me.
| < Prev | Next > |
|---|
Franchise & Retail Opportunities Show Pune 2011 is an internationally recognized event, which gives a platform for direct communication between the investors and principals. The event attracts a huge number of investors, to exchange their strategies to expand business. FRO 2011 Pune helps in developing the understanding and use of advanced technology, which is required to run a business properly. The expo invites almost each brand of market and allows the investors to choose the best option for them according to their budget and choice of business. It gives an interactive platform to investors and company owners to meet the requirements of each other. The show will also give a chance to explore the strategies for multi-unit franchisees and help in planning a sustainable growth by remaining profitable and loyal. Franchise & Retail Opportunities Show 2011 Pune is an important event for all those who are willing to franchise their business.