Entrepreneurs have a huge and anonymous kind of ideas in their head with great innovation and structure, but what all they need is someone or something that would help them build their start-up and business work and grow at their very initial stage, hence Incubation Centres for Startups are the best fit and huge success for the purpose.
Incubation Centre or Incubators are an organization, platform or team of experienced professionals that help startups to bootstrap during its early stages. They often provide mentoring, guidance, co-working space and funding (when required).
Here are the reasons how Incubation Centers help building startups at initial stages –
- Idea Validation
- Mentoring Support
- Co-working space
- Fund raising support
Idea Validation –
Founder always comes up with the best ideas for their start-ups considering it revolutionary but the cases aren’t true every single time. Every idea needs to be valuated and validated on whether it can work. The ideas may be innovative but may not have commercial potential to address a compelling problem.
It helps an entrepreneur decide if his idea can meet the market needs, carrying our market research and give feedback of their idea to help them determine the market ready prototype.
Mentoring Support –
The mentors help entrepreneur regarding the multiple aspects of business such as marketing, sales, business development, finance and operations etc., which they need to understand completely and plan beyond the technology solution for a problem.
Mentors with good experience in start-ups and businesses is a perfect option for young entrepreneurs in ironing out a lot of issues. Entrepreneurs sometimes get obstruct in a situation where they can’t figure out what they further need to do, so having a mentor beside them would be very effective in pointing out the right decision they need to do.
Co-working space –
There are hardly entrepreneurs who aren’t cash starved and are flooded with cash. At this stage, investing on building up fancy offices would be a costly proposition. Therefore, an incubator (Incubation Centre for startups) is a wise option where they get in network with various other start-ups which will eventually becoming a melting pot of various other ideas, so that they help each other riding difficult times.
Further, Incubation Centre for startups build long lasting relationships and friendships between entrepreneurs doing different start-ups.
Fund raising support –
Incubators are often well networked and entrenched in a wonderful ecosystem therefore, a potential point about incubators is we can always expect investor interest to develop via the incubator route. Most of the days, entrepreneurs get a clear chance of winning the investors interest by presenting their ideas in front of them.
The future of Incubation Centres for Startups would result in great success of the businesses enhancing the ideas at a very clear and brilliant pace. Entrepreneurs would be having a clear idea of the market conditions and how the ideas would result keeping all the outcomes in hand. Further, incubation centres carry forward huge support regarding funds when required and also help entrepreneurs develop their networking and present their ideas and proposals to investors.
Incubation Centres for Startups in Rajasthan –
- Rajasthan Angel Investor Network (RAIN)
- Rajasthan Venture Capital Fund (RVCF)
- TiE Rajasthan (The Indus Entrepreneurs)
- Startup Oasis
- GCEC Incubation Centre
- MNIT Innovation and Incubation Centre (MIIC)
- Atal Incubation Centre Banasthali Vidyapith
- IIM Udaipur Incubation Center
- Atal Community Innovation Center, VGU Jaipur
- BITS Pilani – Technology based incubator
- JECRC Incubation Centre & JU Entrepreneurship Cell
- Catalyst Atal Incubation Centre (AIC)
- AIC – JK Lakshmipath University
- Sri Karan Narendra Agri-Business Incubator (SABI)
1. Rajasthan Angel Investor Network (RAIN)
RAIN is a group of angel investors from Jaipur investing not only their money, but also time and expertise to the start-ups.
The governing board member of RAIN include Oscar Expo Design founder, Mahavir Sharma; CEO of Pratham Software, Puneet Mittal; Jewel Alliance Network MD, Manuj Goyal; CEO of 100 Co-founders Lab, Sanjay Yadav; and Neuro-Equilibrium founder, Rajneesh Bhandari. Some of their portfolio companies include Organic Shop, Blue Box, elation Edtech, Synersoft Technologies, Hotify Technologies, and more.
2. Rajasthan Venture Capital Fund (RVCF)
Rajasthan Venture Capital Fund (RVCF) is also an early-stage angel fund with an average ticket size of INR 1 Cr to INR 10 Cr. It was founded in 2002, sector focuses is on agriculture, food, healthcare and education and it has launched three funds so far — RVCF Fund I (which is under liquidation), RVCF Trust II – SME TECH FUND ( under divestment) and RVCF Trust III – RVCF India Growth Fund (actively investing).
3. TiE Rajasthan (The Indus Entrepreneurs)
TiE (The Rajasthan chapter of the global entrepreneurship fostering body) has also contributed to the growth of the state’s startups. Among the notable activities of TiE Rajasthan are TiECon, Smashup, Pitch Off at TiE Rajasthan, TiE Sprint, TiE International Startup Competition, Roundtable Sessions, and Member Retreats, which offer a great opportunity for investors and startups to network and connect, as well as learn from their peers.
4. Startup Oasis
Gujarat’s IIM Ahmedabad and the Rajasthan State Industrial Development and Investment Corporation (RICCO) have established a body called Startup Oasis. It offers a range of services including accelerator and incubator support and coworking spaces.
Startup Oasis claims to have incubated 202 startups such as Tinkerly (formerly SRJNA), Thrillophilia, Razorpay among thousands of others. With 76 startups under incubation currently, the company also offers coworking space in Jaipur available at INR 2.4K for one seat per month.
5. GCEC Incubation Centre
GCEC Incubation Centre (GIC) is a venture of VGU and GCEC and is backed by the Department of Technology, Rajasthan.
GIC with the vision to provide a platform for conceiving, realizing, promoting & nurturing knowledge-based Innovation & Entrepreneurship. We invest our efforts and money in innovative startups from pan India with path-breaking growth stories. We are a world-class team, with a diverse range of capabilities and strengths.
6. MNIT Innovation and Incubation Centre (MIIC)
MNIT Jaipur has set up a Technology Business Incubator (TBI), with the support of Indian Government’s Department of Science and Technology (DST) in December 2016. Registered as a non-profit body, the MNIT incubator is named as MNIT Innovation and Incubation Centre (MIIC). Till now, MNIT has incubated 58 startups including Bodhi AI, ECOWRAP, Proxbotics, Safarnama and more.
7. Atal Incubation Centre Banasthali Vidyapith
Banasthali Vidyapith (The world’s largest women-only residential institute) has also emerged as a prime contributor to the Rajasthan’s startup ecosystem through the establishment of its incubator, the Atal Incubation Centre (AIC).
Banasthali Vidyapith partnered with NITI Aayog to set up this incubation center. AIC is focussed on developing incubation programmes which are especially designed to meet the needs of women-led startups. Banasthali Vidyapith’s portfolio includes Miss Chhotees, Educloud, Robokart and more.
8. IIM Udaipur Incubation Center
The Indian Institute of Management (one of the leading institutions in India) Udaipur has taken a central role in the incubation ecosystem in the city. IIM-U’s incubation centre with the approval of the government’s department of science and technology in 2016.
The incubation centre includes faculty, students and alumni of IIMU, domain experts, mentors and service providers from the industry. The centre offers programs such as Launch N Zoom 2.0 Accelerator, business plan competitions and more. Some of the incubatees at the centre include Doodhbhandar, Mati Amrit Clay, Prodigious, Pichain Innovations, and Tootb Healthtech among others.
9. Atal Community Innovation Center, VGU Jaipur
ACIC-VGU Foundation focuses on building the entrepreneurship and innovative ecosystem in the state of Rajasthan and bring up the good craft, design and Livelihood startups in the country by nurturing the ideas with world class mentors and infrastructure support.
The moto of ACIC-VGU Foundation is to restore the cultural value of the Rajasthan design & art and bring the profitability prospect to the same.
ACIC-VGU Foundation aims to foster and build the startup ecosystem in every 3 tier cities of the state and restore their design & art values through promoting entrepreneurship in these allied fields.
10. BITS Pilani – Technology based incubator
The Technology Business Incubator at BITS Pilani was set up in 2004, and formally inducted into a separate not-for-profit society called Pilani Innovation and Entrepreneurship Development (PIEDS), in 2012. Since inception, the incubator has played a pivotal role in supporting 75 startups, and many more who did not graduate and folded up.
The Incubator has been instrumental in defining and supporting an innovation, commercialization and entrepreneurship ecosystem at the Pilani Campus. Directly or indirectly, the incubator has motivated and inspired many BITSians to take up entrepreneurship. As per an estimate, BITS students and alumni have formed more than 300 startups after the incubator was set up in 2004, which may be attributed to the incubator and the ecosystem created in BITS, with many of them creating economic value for investors, and leading to job creation.
11. JECRC Incubation Centre & JU Entrepreneurship Cell
JIC assists start-ups with converting their early-stage companies into highly scalable, commercially viable businesses. JIC envisions fostering an entrepreneur-friendly culture around academics & research.
JECRC Foundation with 150+ alumni start-ups and presently 25+ incubated start-ups launched its JECRC Incubation Center which was inaugurated by Mr. Avnish Sabharwal, Managing Director, Accenture Ventures & Open Innovation and Shri Amit Agarwal, Vice Chairperson, JECRC University on 28th Feb, 2020. On the same day, the “Start-up Policy” of JECRC Incubation Center was also launched. JECRC Foundation is the first institute in the state of Rajasthan that has well defined start up policy of its own for the students who want to do start-ups.
12. Catalyst Atal Incubation Centre (AIC)
Catalyst AIC is an incubation center set up by IFMR Society in Jaipur, in partnership with NITI Aayog’s Atal Innovation Mission. The center supports and helps scale inclusive tech startups that build solutions focused on unserved and underserved communities in India.
13. AIC – JK Lakshmipath University
Atal Incubation Centre (AIC) is an initiative of Atal Innovation Mission, NITI Aayog to promote a culture of innovation and entrepreneurship. The AIC serves as a platform for nurturing innovative ideas, promoting entrepreneurship, supporting innovators, mentoring youth in general and women in particular.
14. Sri Karan Narendra Agri-Business Incubator (SABI)
S-ABI is an agri-innovation hub and agri-business incubation center of Sri Karan Narendra Agriculture University (SKNAU) Jobner, Jaipur, Rajasthan, India. It is supported by the Department of Agriculture, Cooperation & Farmers Welfare, Ministry of Agriculture & Farmers Welfare, Govt. of India, New Delhi under the RKYV-RAFTAAR Scheme.
It offers well equipped incubation space, technical and business mentoring, networking with agribusiness industry, scientific and information resources, conducive and supportive environment for agri startups and opportunities for availing government grants-in aid through pre seed and seed stage funding.
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