Why Virtual Incubation Matters?

- BY Akshay Arora
Feature Writer, BusinessEx
- |
- Dec 12,2017
- |
10 Mins Read
Virtual incubation is the need of the hour in India’s 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?
Positive Impact:
- A startup can get mentorship easily through online platforms.
- A startup can get access to an incubator 24/7 and also saves time as there is no need to be in the same place. An international startup can also use the services of Indian incubator.
- An entrepreneur can search for the incubator relevant to the segment the startup catering in.
- A startup can also network with potential investors and other relevant business associates through virtual incubators.
- These will help startups in tier II and tier III cities to expand their business with proper guidance.
- These incubators are not only for early-stage startups but also caters to businesses.
Negative Impact:
- The early stage startups require face to face incubation as it is not possible to do all the tasks virtually.
- In tier III areas in India, there is a general problem of electricity and internet services so it may be helpful for startups or not.
- Incubators also provide co-working space and resources which will not be there in virtual incubation.
- To introduce someone face to face makes a better impression rather than online so in the virtual incubation, a startup can network only online.
- It is also a time-consuming process for an entrepreneur to decide which the suitable incubator for the startup is, as there are a lot of incubators registered on the platforms.
- Sometimes people create fake incubator platforms to raise funding for startups.
Conclusion
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.
More from Akshay Arora
Why Entrepreneurs Should Change...
To sustain competition, entrepreneurs have to cope...
October 05, 20213 Min Read
Want to Start a Photography Business?...
A photography business is not primarily based on the...
October 07, 20213 Min Read
Startups Entering the Unicorn Club
In total, 31 companies have turned into unicorns until...
October 08, 20213 Min Read
Start Your Business by Creating...
Before setting out in the business marketplace, it...
October 11, 20213 Min Read
Here’s How Retailers Can Increase...
After the pandemic-led lockdown, bring customers to...
October 12, 20213 Min Read
Startups Attracting Investment...
The funding spree has continued as a cohort of startups...
October 15, 20213 Min Read
Start Your Food Truck Business...
Starting a food truck business is comparatively easier...
October 16, 20213 Min Read
These Sectors Give 33 Unicorns...
All these startups are coming from diverse backgrounds...
October 23, 20213 Min Read
India Gets Its 32nd Unicorn This...
Acko caught the limelight after securing $255 million...
October 30, 20213 Min Read
How Engineering R&D Playing a Crucial...
The Indian ER&D services sector is expected to reach...
November 12, 20213 Min Read
Amazon, Asian Paints and Tata Tea...
Kantar analyzed 418 brands across 30 categories and...
November 29, 20213 Min Read
‘Close the Deal’ Program Initiated...
In the program, personal limitations were identified...
December 04, 20213 Min Read
Recommended for you
- October 05, 2021
- October 08, 2021
- October 11, 2021
Latest News & Articles
- October 05, 2021
- October 07, 2021
- October 08, 2021