IIM Bangalore's startup incubator NSRCEL along with the Center for Research on Start-ups and Risk Financing (CREST) in IIT Madras released their joint research report titled, 'India Incubator Kaleidoscope 2024'.
The report was launched in the presence of Amitabh Kant – G20 Sherpa, Govt. of India, Rishikesh T Krishnan, director of IIM Bangalore, Anand Sri Ganesh, CEO of NSRCEL among others as part of SummitUp, the flagship event of NSRCEL.
Leading the joint report was Prof. Thillai Rajan A., head of CREST and professor of finance at the Department of Management Studies in IIT Madras, and Prof. Srivardhini K Jha, professor of entrepreneurship at IIM Bangalore and chairperson of NSRCEL.
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As per a press release, the report offers key insights and recommendations to policymakers and business leaders on creating and nurturing startup incubators, which are essential for job creation and economic growth.
Among other significant findings of the report, a key finding is that Chennai and Bangalore lead the startup ecosystem with their high concentration of industry and academic incubators, added the release.
Highlighting the report, Prof. Srivardhini Jha said it reflects the activities and impact of incubators, and focuses on the need to raise the level of incubation activity, and enhance the quality of incubation efforts nationwide.
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Prof. Thillai Rajan A. explained that the narrative on the Indian startup ecosystem has centered around start-ups and investors, and this report turns the spotlight on incubators, a significant link in the startup value creation chain.
He said that the research finds that incubators enhance the credibility of the startups that they support, adding that the incubated startups are two and a half times more likely to get funded as compared to the non-incubated ones.
Amitabh Kant pointed out that incubators play a very crucial role in the growth of the Indian startup ecosystem, and their contribution has been expanding in recent years.
He said, “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. Rishikesh T. Krishnan stated that the value of innovation cannot be overstated, and 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.
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Prof. V. Kamakoti stressed the need for India to become a 'startup nation' for the country to become a superpower, adding that the report addresses this crucial point and the challenges.
