What is an incubation center?
A startup incubator is a collaborative program designed to help new startups succeed and also to accommodate the idea of inventing in the students at a young age and also so that it can solve the modern-day problems that the human race face. Incubators help entrepreneurs solve some of the problems of modern society by innovation and crazy ideas and the will to chase them for good, with running a startup by providing workspace, seed funding, mentoring, and training these ideas can be revolutionary changes in the industry and can change the very fabric of reality. The sole purpose of a startup incubator is to help students to become successful entrepreneurs and grow their businesses and chase their dreams with their crazy ideas.
WHAT IS AN INCUBATION?
Incubators are institutions that support students with ideas for a startup business and provide them with the knowledge, funds, and other technical support that is needed in making their business idea into a reality. These are organizations that are geared towards speeding up the growth and success of start-ups and early-stage companies for the overall economic growth of a country, it is usually done by institutions that have experience in the business and technology world so that their experience can be used for a better output.
The main tasks of an incubation center include providing technological facilities and advice, initial growth funds, network and linkages, co-working spaces, lab facilities, mentoring, and advisory support for better and sustainable growth of the upcoming business idea and help them build a world-class company. They prevent the idea, funds, and other related artifacts from falling into the wrong hands and help them with nurturing their ideas for a fruitful outcome.
THE MAIN BRIEF
The Shivalik College started its own “Incubation Centre” for nurturing and overseeing innovation and entrepreneurship and also to inculcate the idea of innovation into the students. The aim is to encourage entrepreneurship among students with the colleges serving as focal points for their ideas and help home developing it into a full-scale business plan and also providing them the need to establish one. It has also been aimed to be turned into a platform for nurturing, encouraging, and developing innovative and entrepreneurial skills among its students. Entrepreneurship in India is on the verge of unprecedented explosive growth. Investors, venture capital, media, startup clubs, service providers, mentors, and training companies are going to grow at a geometric rate and the nation can benefit from it and the students can get the best out of it. And one important cog in the wheel is the incubator – the place where startups are born.
Just like when a baby is born, he or she is kept in the incubator for the first few hours and maybe days – this provides them a chance to adjust to the outside environment, and grow stronger before they face the outside world. In a very similar manner, a startup is incubated in an Incubation Center, which gives them a chance to bring their business in shape before they reach out to the world or try to step into the market with other competitors. The growth path of the IT industry in the world is only looking better and wider. After witnessing phenomenal growth in the last two decades, the IT sector now continues to grow its share both in revenue and job creation, better than any other industry and any other state in the IT sector in the world market.
The Incubation Centre is a space for new-age entrepreneurs and young minds to transform their innovative ideas into viable business propositions, which is the reason why Shivalik has built one on its campus to help students grow and learn simultaneously. Our primary vision is to facilitate a platform for a budding entrepreneur to start a business venture with minimum risks and maximum profit for the students so that they can one day successfully contribute to the overall GDP growth of the nation making the country an economic superpower. Incubation will ensure that incubates have access to technical assistance, financial help, and other support required for a smooth function and all of this will be generated through mentors with multidisciplinary expertise.
The mission of the Incubation Centre is to nurture and empower the next generation of entrepreneurs to serve and find solutions to modern-day problems which require technical knowledge and mad skills to tackle it up.
Written By:- SHASHANK MISHRA