NSRCEL, the startup incubator at IIM Bangalore, and the Centre for Research on Start-ups and Risk Financing (CREST) IIT Madras, today announced the release of their joint research report, ‘India Incubator Kaleidoscope 2024’.
The joint effort was led by Prof.ThillaiRajan A., Head, CREST and Professor of Finance, Department of Management Studies, IIT Madras and Prof.Srivardhini K Jha, Professor of Entrepreneurship, IIM Bangalore and Chairperson of NSRCEL. It offers valuable insights and recommendations to policymakers and business leaders on how to create and nurture thriving startup incubators, which are essential for job creation and economic growth.
Speaking about this study, Prof.SrivardhiniJha said,“Incubators play a crucial role in making entrepreneurship more accessible and inclusive across the country but their activities and impact are not well understood. This report addresses that gap and highlights the need to both raise the level of incubation activity and enhance the quality of incubation efforts nationwide.”
Elaborating further, Prof.ThillaiRajan A., IIT Madras, said,“The narrative on the Indian startup ecosystem has centered around start-ups and investors. This report turns the spotlight on incubators, a significant link in the startup value creation chain. ‘Tell me who your friends are, and I will tell you who you are’ is a well-known proverb. In much the same way, our research finds that incubators enhance the credibility of the startups that they support. This manifests more compellingly in startup funding. Incubated startups are two and a half times more likely to get funded as compared to the non-incubated.”
Launching the publication, Shri Amitabh Kant,G20 Sherpa, Government of India andex-CEO, NITI Aayogsaid,“In the growth of Indian startup ecosystem, incubators play a very crucial role, and their contribution has been expanding in recent years. Conceptualized initially to facilitate the formation of start-ups, today incubators perform multiple roles such as bringing together scientific and business expertise, channelizing capital to promising start-ups, and increase awareness on startups in the society. For the government, incubators are becoming the last link in identifying startup beneficiaries for various schemes and monitoring their progress. I am happy to note that two of the best institutions in the country have joined hands in bringing this timely as well as relevant publication on incubators. Their findings vindicate the policy emphasis on incubators, while giving suggestions on how the incubation landscape can be further enriched through various interventions.”
Prof.Rishikesha T. Krishnan, Director, IIM Bangalore, said,“The value of innovation cannot be overstated. Incubators play an important role in supporting the unique needs of diverse creators not only by accelerating grassroots development but also by leveling the playing field.”
Among the various significant findings of this collaborative research undertaking is one—that cities of Chennai and Bangalore lead the startup ecosystem with their high concentration of industry and academic incubators. As IIMB stands at the heart of India’s knowledge capital, we look forward to continuing our sustained contribution to the city’s deep roots—its history and investment in the future of growth and innovation”.
Prof. V. Kamakoti, Director, IIT Madras, said,“For Bharat to become a superpower, we must aspire to make our country as a Startup Nation. This effort involves interactions between multiple stakeholders. This report addresses this crucial point and the challenges. I am sure the recommendation of this report will be immensely beneficial for all the stakeholders.”
The report was launched in the presence of Amitabh Kant - G20 Sherpa, Govt. of India, Rishikesha T Krishnan – Director, IIM Bangalore, Anand Sri Ganesh – CEO, NSRCEL among others as part of SummitUp the flagship event of NSRCEL, IIM Bangalore.