your password has been reset successfully, Please login again.

Are you a struggling Start-up? – Find your right Incubator

Incubators a source for start-ups to work in the right direction and aim for success.
BY Akshay Arora
Feature Writer, BusinessEx
Jul 01,2017

Start-ups generally face the problem in the initiation of business. Even if they start, its still difficult for them to create a network and attract investments. To overcome these barriers entrepreneurs generally go for help from incubators and mentors. A business incubator is a company that aims to provide support to start-ups by providing various services, to develop themselves in the market.The National Business Incubation Association (NBIA) defines business incubators as a catalyst tool for either regional or national economic development.

National Association of Software and Services Companies (NASSCOM) and Zinnov Consulting report reveals that India now has the third-highest number of start-up incubators and accelerators in the world after China and the US.

A report titled Incubators/Accelerators (I/As) says the number of incubators and accelerators in India grew drastically around 40% in 2016, with more than 40 of them seeing the light of the day.

According to above report analysis, academic institutions run around 51% of incubators, 31% are independent, while the rest are corporates around 9% and governments 8% in India.

In India, constant grow of start-ups increasing the demand for incubators as well. Incubators become a necessity for start-ups, various educationalists and experienced members of the industry are understanding the need and forming their own business incubator firms.But, it is not necessary that incubator will ready to provide necessary facilities to each entrepreneur, proper analysis of business idea and its feasibility will be checked by incubator first, then only start-up will be selected for further process.

A platform like businessex.com helps start-ups as well as an incubator to set up their profile on it and helps to make the connection with relevant interested parties. Entrepreneurs can find trusted incubators here and incubators can showcase their entity through this portal to potential start-ups.

Major Question that pops up in every entrepreneurs mind before engaging with an incubator is;

What kind of services can you provide to our start-up for development?

Incubators have myriad advantages for a start-up but major ones are:-

Sharing of operating costs

Incubators help start-ups save on operating costs like sharing overhead expenses, such as utilities, office equipment rentals, and receptionist services. This sharing of operating is for a fixed amount of period as per the agreement generally its between 6 months to 3 years.

Access to Capital

Referring to angel investors and venture capitalists and helping them on how to present themselves in order to convince them for investment helps start-ups with their investment needs. Also from an investors perspective, working with an incubator can lend some credibility to start-up, as hiring an incubator is a signal of dedication that entrepreneur has towards his start-up.

Networking

Each industry has its own list of specialised incubators possessing various connections in the industry.Having access to incubator surely helps start-up to connect with influential people to expand their business networks for faster growth.

Consulting and Administrative Assistance

Insightful advice and knowledge are shared by incubators if there are any business issues that affect the business functioning or expansion process. People having the knowledge and can take decisions on their own may overlook this speciality of incubators but its very helpful especially for struggling start-ups.

Mentoring

In todays life, Incubator role as mentor has also increased. Incubators are also focusing on providing mentoring services to those in need. Mentoring is a successful model to help start-up face difficult situations and take right decisions. Also, helps an entrepreneur to grow personally and professionally both.

Please add your Comment
SIMILAR Articles
February 22, 2018
Planning to start a business in wellness industry, well there are some segments in which you can sta ...More
By Akshay Arora
February 21, 2018
Exiting a business is a bit difficult so be prepared in advance as there are a lot of ways that you ...More
By Akshay Arora
February 21, 2018
Planning to expand your network the build your own network to do it more efficiently. Similarly, the ...More
By Akshay Arora
February 20, 2018
If you want to be a successful entrepreneur then find your way to success after reading the points b ...More
By Akshay Arora
February 20, 2018
Selling business is a big step so make sure that you must prepare and make up your mind before going ...More
By Akshay Arora
February 19, 2018
An entrepreneur always finds it hard to get an investor on board in the initial stage so there are a ...More
By Akshay Arora
February 19, 2018
There are a lot of businesses on a boom now but these are the unique ones which are worth investing. ...More
By Akshay Arora
February 19, 2018
Running a business is a dream of many a people so make sure that you do it the right way by giving i ...More
By Akshay Arora
February 09, 2018
Small businesses are building up their own brand name with the help of social media. Let's see how s ...More
By Akshay Arora
February 06, 2018
Buying an established business means that you are one step ahead than the entrepreneurs who just sta ...More
By Akshay Arora
February 05, 2018
An entrepreneur seeks the support of a mentor in the time of need so it is better that you find the ...More
By Akshay Arora
February 01, 2018
Union Budget 2018 has revealed some policies that impact MSMEs, startups and investors which are hig ...More
By Akshay Arora