An introduction to the incubators in India
As technology grows, we have witnessed the birth of new startup companies every year. With the help of various accelerators and incubators in India, those startups with innovation and creativity have every opportunity to flourish. Accelerators are those enterprises that help in scaling the business of a new startup. They provide years’ worth of training in a short time and also bring sources of funding. Incubators are the companies that offer various services like working space, management training, etc. in order to assist new startups. It is a catalyst tool that plays a significant role in the establishment of a startup.
Here are the most popular startup incubators in India:
1. Amity Innovation Incubator
It is one of the top incubators in India which has helped many startups that became successful enough to be acknowledged in spaces like ‘The Power of Idea’. Amity Innovation Incubator (1) selects startups that have highly innovative ideas and the potential to make a revolution in the market. It is supported by DST, Ministry of Science & Technology, GOI. Amity Innovation Incubator provides services like mentoring, financial advisory, infrastructural assistance, expert advisory, etc.
As of now, they primarily focus on startups in clinical research, online video gaming, and other technology-based ideas. It is one of the primary incubators in India which supports a GIS-based company, and a SAAS based IT set up.
2. Prime Venture Partners
They provide the best in class mentoring as well as funding to help startups in India. They yearn to help smaller startups with big visions. Prime Venture Partners (2) incubate less than five startups a year which shows their dedication and focus on their work. It is one of the few incubators in India that stay close to the startups that they assist. They largely focus on startups in sectors like medicine and healthcare, logistics, B2B, consumer domain, Fintech, etc. Some of the famous startups that were incubated by Prime Venture Partners are OTO, MoneyTap, MyGate, Sunstone, Eduversity, etc. Prime Venture Partners have provided funding of up to 600,000 dollars.
3. CIIE IIMA ( Centre for Innovation Incubation and Entrepreneurship)
CIIE (3) is a free enterprise by IIM Ahmedabad, supported by the government of India and the Gujarat Government. The members of this incubator are faculty and alumni of IIM Ahmedabad and other like-minded people who wish to encourage creative startups. CIIE IIMA stands apart from the other incubators in India as they are not based on incomes. It was founded in 2002 as a research institute. In 2007, they became one of the fully functional incubators in India.
They focus on areas like technology, IT, cleantech, and socially responsible startups. Some of the successful startups that were incubated by CIIE IIMA are Thrillophilia, Travelyaari, Innoz, etc. They have made investments of up to 20 lakh rupees to various startups.
4. Indian Angel Network
IAN incubator or Indian Angel Network (4) is one of the prominent incubators in India which supports a wide range of startups across various arenas. They are supported by the National Science and Technology Entrepreneurship Development Board(NSTEDB) and Department of Science & Technology(DST) of the Government of India. Indian Angel Network supports many small startups and entrepreneurs to bring their smart ideas into reality. The services extended by them cover areas like technological support, mentoring, marketing strategies, training, planning of sales, recruitment advisory, developing seed funding, etc.
Indian Angel Network also helps to bring funding and partnerships from national as well as international sources. They have assisted in building many successful startups like Mukunda Foods, Skill Boost, IndiaCollegeSearch. The team of Indian Angel Network includes academicians, professionals in specific domains, experienced entrepreneurs, and other experts in the field.
5. Khosla Labs
Khosla Labs (5) is an incubator founded in 2012 by Vinod Khosla and Srikanth Nadhamuni. This company which is based in Bangalore, has helped various startups in areas like banking, medical and healthcare delivery, data science and analytics etc. It was started as an innovation lab with the aim to unravel huge problems faced by technological startups. They own top-notch in-house design solutions and a team of experts in information technology. Khosla labs build prototypes of their projects which are tested with a selected group of clients for the adequate response in order to improve their strategies.
6. Startup Village
Startup Village (6) is one of the first incubators in India, which is funded by both the public and private areas. They are supported by the Department of Science and Technology, Government of India, Technopark Trivandrum and MobME Wireless. The Startup Village incubator was founded in 2012 and is based in Kochi, Kerala. The senior mentor at this incubator is Chris Gopalakrishnan, who is a prosperous businessman from Kerala and the co-founder of Infosys. The vision of the Startup Village is to support and assist more than 1000 small startups by the year 2022. They mainly support technology-based startup ideas of college students.
7. TBI, BITS Pilani
It is an incubator initiated by BITS Pilani with support from the Department of Science and Technology (DST), Government of India. A wing of BITS Pilani named CEL or Centre for Entrepreneurial Leadership was established to support entrepreneurs and boost their business. It is one of the most potent incubators in India which assists in office space, training, advisory, etc. The infrastructural benefits given by TBI, BITS Pilani (7), include their huge office space which can accommodate more than ten firms at the same time.
Villgro (8) is another famous name among the top incubators in India. They give priority to small startups that might be able to aid the backward sections of the society. In the early stage of a startup, Villgro extends all kinds of services like product development, design, accounting, financial advisory, training, human resources management, legal advisory etc. Some of the successful startups brought up by Villgro are CoolCrop, BookMyBai, FlexMotiv, etc.
They have raised around 65 lakh rupees as funding for several startups in fields like education, healthcare, agribusiness, energy resources, etc. Villgro was acknowledged by the Department of Science and Technology and Ministry of Micro-Small Medium Enterprises, Government of India.
iCreate (9) incubator was developed by the Gujarat Foundation of Entrepreneurial Excellence (GFEE) as a joint venture of Gujarat Mineral Development Corporation Limited (GMDC) and Gujarat Entrepreneurship and Venture Promotion Foundation (GEVPF). The benefits given by iCreate include seminars, training, etc. for students who aspire to be entrepreneurs. They also conduct reach-out programs and networking tournaments, which will help small startups to grow. It was founded in 2011 and based in Ahmedabad.
10. Veddis Ventures
Veddis (10) is one of the leading incubators in India that focus on startups in the field of consumer technology. They have also brought up several fundings for companies based on media, social networking, IT, etc. It was founded in 2007 and is based in Gurgaon, Haryana. Veddis Ventures has offices in London and Gibraltar as well. They provide exceptional service not only in India but also in the USA and in many countries in Europe. Favista is a triumphant startup incubated by Veddis Ventures.