The Centre for Research on Start-ups and Risk Financing (CREST) an Institute of Eminence Research Centre at IIT Madras has developed India’s first information platform on incubators and accelerators.
The platform, developed in partnership with YNOS, an IIT Madras-incubated start-up, contains comprehensive information on incubators and accelerators, which play an important role in helping start-ups navigate an uncertain entrepreneurial ecosystem. While India had about 1,000 active incubators, until now, the information about them was scattered and not easily available in a single location. Entrepreneurs had to spend a lot of time and effort to identify the incubator most suitable for their start-up.
The platform developed by CREST addresses this pain-point and helps the start-up founders to identify, compare and analyse incubators very easily. Called ‘Incubators’, this AI-powered platform will help start-up founders to identify incubators and accelerators across India and shortlist one that best fits their requirements.
Congratulating CREST, IIT Madras and YNOS for developing this platform, Dr. Jayesh Ranjan, IAS, said, “The growth of the Indian start-up ecosystem depends on a strong incubator ecosystem. Research has shown that there is a direct correlation between start-up formation and number of incubators. Recognizing this, various governments have focused on strengthening the incubation ecosystem in the country.”
Dr. Jayesh Ranjan added, “However, getting information about various incubation centres has always been a challenge. Since there are information platforms that provided a one stop resource on the incubation network in the country, entrepreneurs had to visit through multiple websites to get the information they needed. With the availability of Incubators, this problem has been squarely addressed. There is no doubt that the platform would significantly benefit entrepreneurs by presenting various incubation opportunities available to them and helping them to identify the perfect incubator for their start-up. I congratulate Prof. Thillai Rajan and his team for conceptualising this platform and developing this for the benefit of the start-up community.”
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Elaborating on the need for such tools, Prof. A. Thillai Rajan said, “During the initial few months after incorporation, start-ups face a high degree of uncertainty. They need a lot of support, handholding and mentoring as they start finding their bearings. It is here that Incubators for start-ups play would a very important role in helping start-up founders to navigate the uncertain terrain. The Incubators help the start-up founders at multiple levels: Firstly, it gives an exhaustive list of incubators in the country that start-up founders can reach out to for incubation support. Secondly, it provides information on various parameters which helps start-up founders to identify incubators suited for their requirement.”
ABOUT CREST, IIT MADRAS
The objective of the CREST is to augment academic and thought leadership in innovation, entrepreneurship and risk capital. Its Vision is to be globally recognized as a leading centre of research engaged in Scholarly research in the areas of creation, development, and financing of innovation, start-ups, and entrepreneurship. Creation of a world class unique data repository on Indian start-ups and ventures that seeks to address the major hurdle for engaging in high quality research.
This database would be made accessible for researchers and policy makers that can result in top tier publications. Cross country collaborative research, resulting in the use of unique data sets on start-ups and venture capital that increases the chances of break through findings. Evidence synthesis on the start-up and innovation ecosystem to inform policy makers and practitioners
YNOS Venture Engine, incubated by the IIT Madras Incubation Cell and located at the IIT Madras Research Park, is India’s leading Digital and Innovation Platform for the Early Stage Entrepreneurs, connecting entrepreneurs, investors, incubators, innovators, and subject matter experts. The mission of YNOS is to increase the success of early stage entrepreneurs. The offerings of YNOS helps early stage entrepreneurs to identify potential investors, understand the start-up landscape, estimate the valuation of an early stage venture, get access to funding and expertise, and many more.
The ground-breaking approach developed by YNOS helps to leverage the power of technology and domain expertise to deliver customized insights and recommendations to early stage entrepreneurs.