Hummingbird News Desk
CHENNAI, 20 NOV: In a significant stride towards organizing and enhancing India’s start-up ecosystem, the Centre for Research on Start-ups and Risk Financing (CREST), an Institute of Eminence Research Centre at IIT Madras, has unveiled the country’s first comprehensive information platform on incubators and accelerators.
Developed in collaboration with YNOS, an IIT Madras-incubated start-up, the platform, named ‘Incubators,’ aims to simplify the process for entrepreneurs to identify, compare, and analyze potential incubators for their start-ups.
Despite the proliferation of start-ups in India, until now, information about the approximately 1,000 active incubators was scattered and not easily accessible in one location. This prompted entrepreneurs to invest substantial time and effort in identifying the most suitable incubator for their ventures.
The ‘Incubators’ platform, powered by artificial intelligence, addresses this challenge by providing a one-stop destination for critical information about incubators and accelerators across India. The platform was formally launched by Dr. Jayesh Ranjan, Principal Secretary, Departments of Information Technology, Electronics and Communications, Industries and Commerce, Government of Telangana, and Member, Board of Directors of T-Hub, the largest incubator in India.
Dr. Jayesh Ranjan commended the initiative, stating, “The growth of the Indian start-up ecosystem depends on a strong incubator ecosystem. Recognizing this, various governments have focused on strengthening the incubation ecosystem in the country.”
He emphasized that the ‘Incubators’ platform would significantly benefit entrepreneurs by presenting various incubation opportunities available to them and helping them identify the perfect fit for their start-ups.
The platform also offers substantial advantages to incubators, providing a neutral space for them to showcase their strengths, attract start-up founders, policymakers, and investors, and benchmark their facilities against comparable incubators for continuous improvement.
Prof. Thillai Rajan, A., Professor at the Department of Management Studies, IIT Madras, and Principal Investigator of CREST, highlighted the critical role of incubators in the start-up lifecycle, stating, “The role of an incubator and accelerator in the success of a start-up is as much as that of an investor, if not more. Therefore, it is critical that start-ups partner with the right incubator.”
The ‘Incubators’ platform provides detailed information on various parameters, including the start-ups supported by the incubator, success ratios in obtaining funding, the investor network, and the prevalence of virtual incubation support.
Prof. A. Thillai Rajan explained, “Apart from providing infrastructure, access to experts, partnerships with service providers, networks with investors, incubators also significantly influence the start-ups’ journey.”
Developed using the latest technology tools, the platform features intuitive filters for quick identification of suitable incubators, facilitating a streamlined and informed decision-making process for start-up founders.
The launch event saw the presence of key stakeholders, including government representatives, educators, and funding agencies, highlighting the potential widespread impact of the ‘Incubators’ platform on the entire start-up ecosystem in India.
Image : Dr.-Jayesh-Ranjan-R-IAS-Telangana-IT-Secretary-launches-YNOS-‘Incubators-Accelerators-platform-with-Prof.-A.-Thillai-Rajan-IIT-Madras-at-Hyderabad-on-20th-Nov-2023
Tags: #IITMadras #IncubatorsPlatform #StartUp #India
