Virtual incubation is the need of the hour in Indias booming startup ecosystem. India which is in among the top three countries in terms of the number of incubators but still over 90 per cent of the startups unable to make it after 1 year and some after 5 years. The solution to this problem is virtual incubation which is still not utilised by many of the incubators in India. The virtual incubation is the service which is available to an entrepreneur twenty-four seven and to international businesses as well.
An incubation which can be done digitally so that entrepreneurs can easily find on the search engine as per their needs. Some platforms are there which helps business or startup to network with incubators for their development. The one of a kind platform BusinessEx is a place where you can find relevant incubators for your startup.
The virtual incubation can be done by any incubator and it is alleged that over 70 per cent of the incubator services can be done online. The services like mentorship, networking, decision making, skill building can be done online and it will also help incubators to raise some extra funding.
How will this bring change for startups?
The virtual incubation will surely improve startup functioning as they have twenty-four seven access but it is better to meet in person also. There are platforms like BusinessEx where you can also pitch incubator and they can also pitch a startup. There are pros and cons of everything but it is better to make an informative decision. This incubation brings ease for startups to go digital for all the problems. If a startup is an early stage it is preferred to have an incubator associated with it and if the entrepreneur has some experience and network in the industry then virtual incubation will also work. But at the end entrepreneurs have to decide which option suits their startup best.