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WHY ARE INCUBATORS A NEED OF THE HOUR?

Published on July 26, 2021

Startups in India have received enormous scrutiny in the recent years. They have bloomed as an important source of huge employment generation in India. India’s large population of 1.3 billion plays a vital role in providing opportunities for the growth of startups as it provides vast commercial potential. Change in the mindset of the people is another factor as more and more number of people are joining the same including the high profile executives. In addition to it, huge foreign and Indian investments also add on to the opportunities for startups in India.

But as per the report of International Journal of Financial Management and Economics, 2019, Indian Startups and entrepreneurs in India are facing many problems and challenges such as the requirement of financial resources, revenue generation, bureaucratic and political corruptions, challenges to register a company lack of good branding strategy, etc., to name a few. Many startups in India lack even the basic assistance like good infrastructure and despite having the huge Indian markets, there lacks the creativity of creating market awareness.

This is where the Incubation Centers and Incubators appears as a great help. Below are some reasons why your startup need an Incubation assistance

1.Low Cost Accessibility to Sophisticated Infrastructure

The major concern of the startup always remains the infrastructure as they tend to be new and low on budget. An Incubation center provides them the access to decent and sophisticated infrastructure throughout their tenure at low and affordable cost.

2.Low Cost Office Space

For any startup or entrepreneurs, having a decent office not only provides them a good working space but also a focused environment. It has been evident that having a physical office shows legitimacy and seriousness and it will help entrepreneurs have face to face communication with their peers and associates. There also includes subjective benefits like having separate ‘work’ and ‘life’.

3.Internet Access

Development of business majorly depends upon online approaches these days. Through internet accessibility, connecting to masses have become easier and productive. At Incubation Centers, there is full time internet accessibility which not only helps the entrepreneurs connect online but also gives them scope of learning and research.

4.Administrative Support

Bureaucratic assistance is a requirement from the beginning of the very establishment of the startups but the same is a little persuasive and tough to attain in India. Incubators makes it easy for the startups to get in touch with the authorities and government employees.

5.Accessibility to mentors

Be it technical, biochemical or educational, every startup need guidance in all its phases. Incubators provides them the access to influential and high profile entrepreneurs and accountants and they also help them connect to human resource professionals, investors, lawyers and researchers.

6.Workshops, events and panel discussions for business development

Incubation centers avails access to mentors and also specifically arrange the workshops, panel discussions time and again with influential people related to the required sector for their business development.

7.Assistance in getting registration

Startup registration process in India is not only time taking but also a rigorous process and many entrepreneurs find it difficult to get done without any external support and hence comes the Incubators who help ease the entire process.

8.Financial Assistance

Last but not least, financial support is required for any startup to grow on a big scale whether it is in terms of marketing or getting lucrative investments from investors. Incubators help the startups and entrepreneurs connect with investors, develop a budget plan and get funds for the same.

Understandably, being an entrepreneur comes with its own sets of challenges but fortunately there are many ways a startup can improve, develop and grow its business. One of them being incubators. Indian startups are only growing both in numbers and innovations, thus Incubators are the need of the hour.

Ms.Deepika Telang
Incubation Manager


Published By

Dream Hatcher Incubation Center


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