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Role,-Need-and-services-of-Incubation-center

Role, Need and services of Incubation center

Entrepreneurship in India is on the verge of explosive growth. This also throws new opportunities for the ecosystem to take shape. Creating sustainable entrepreneurship development business in the area of ICT especially first generation entrepreneurs, Nurturing the innovative ideas to commercially viable business prepositions and encouraging commercialization of R&D outputs into commercial ventures are the role of incubation centers.

Datacom & Telecom products, Educational tablets, interactive whiteboards and digital pads along with lecture management software, software product for serving professional in medical field, software product for the travelers.

Need for Incubation:

Business incubation provides growth for SMEs and startups with the ideal location to develop and grow their businesses, offering everything from virtual support, renta-desk through to state of the art laboratories and everything in between. They provide direct access to hands-on intensive business support, access to finance and expertise and to other entrepreneurs and suppliers to really help businesses and entrepreneurs to grow - faster.

Starting any business is fraught with uncertainty, financial burdens and resource issues, but more so with innovative and entrepreneurial businesses due to the complexity of the products and services being developed and, often, the length of time it takes to fully develop the product. Incubators (or "business incubation environments") are ideally placed to help innovators and entrepreneurs to overcome some of the hurdles and to negotiate a path to the all important finance and mentoring all entrepreneurs need.

It provides the support functions, mentorship and resources to individual entrepreneurs or entrepreneurial setups. It enables them to get expert advice and technical guidance they need to survive for a longer time Private incubators are a handful, but gradually growing. These numbers are expected to double within the next two years.

Common services provided by incubation centers

  • Help with basics business

  • Networking activities

  • Marketing assistance

  • High-speed Internet access

  • Access to bank loans, loan funds and guarantee programs

  • Links to strategic partners

  • Access to angel investors or venture capital

  • Advisory boards and mentors

  • Management team identification

  • Technology commercialization assistance

  • Help with regulatory compliance

  • Intellectual property management

Software Technology Parks of India was established and registered as an autonomous society under the Societies Registration Act 1860, under the then Department of Electronics (the present Department of Information Technology), Ministry of Communication and Information Technology, Government of India on 5th June 1991 with an objective to implement STP/EHTP Schemes, set-up and mange infrastructure facilities and provide other services like technology assessment and professional training.

Incubation center at STPI

STPI offers ultra-modern facilities available to small units and entrepreneurs with minimal capital expenditure to nurture innovation, product development, facilitate exchange of ideas in the Information and Communication Technology Sector.

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HSTPI provides the incubation facilities for the promotion of the start up units and SMEs in Chennai from the year 2007 onwards which includes

  • PLUG N PLAY incubation space with basic amenities

  • Internet Enabled workstation.

  • Centralized Air-conditioning, power backup.

  • Conference ad training facility

  • Library

  • Business support center.

So far 13 companies had used STPI Incubation facility and moved to the commercial places for further expansion. At present there are 12 IT Industries are using the Incubation facility who are working in the area of Network Management and IT Security Solutions, Applications in Cloud Computing environment, E-Commerce & health care, Web Site Development & Systems support, Machine Learning technology, software testing services for Datacom & Telecom products, Educational tablets, interactive whiteboards and digital pads along with lecture management software, software product for serving professional in medical field, software product for the travelers.

TStart up IT industries and entrepreneurs can approach STPI to avail Incubation facility.

For further details visit website www.chennai.stpi.in