What’s most essential for a startup business and an aspiring entrepreneur?
A creative logo design, a professional website, a great team and a solid business idea? Is that it? The answer is a resounding NO!
You’ll also need to find out the best incubators and accelerators to get funds and learn the nuances of driving a new business to success. You’ll be pleased to know that as the Indian economy is gaining momentum, there has been a steep rise in the number of incubators and accelerators that have come to the fore to help out aspiring entrepreneurs make their dream ventures breathe to life.
These accelerators and incubators provide startups and small businesses with mentoring, support and most importantly funding. In short, they reduce the risk of failures for India’s new-age startups.
While a large number of incubators are backed by the government, many private players too have joined the bandwagon. Accelerators, on the other hand, are mostly supported by angel investors or VC firms. While incubation is done in very early stages of business development, accelerators work in the later or the last stages.
Let’s understand how incubators are different from accelerators to get a clearer picture of how they help new businesses flourish.
How are Incubators different from Accelerators?
Okay, this one is tricky! In fact, a large number of people believe that there’s no difference between incubators and accelerators. But you’ll be surprised to know that there’s a world of difference between the two.
Let’s check out the difference between the two.
As the name suggests, accelerators are programs or services that speed up new businesses. Accelerators help new businesses with coaching, strategic consulting, fundraising, graphic designs, etc. On the other hand, incubators provide the basic business services such as office space, infrastructure, networking opportunities and are used early for the development of a business idea into an actual product.
For your convenience, we have made a list of the top 50 incubators and accelerators segmented across various India cities.
So if you’re aspiring entrepreneur, brace yourself for we’re going to introduce you to India’s top 50 business incubators and accelerators.
Here’s we go:
Business Incubators and Accelerators In:
1. Indian Angel Network (IAN) Incubator – The pioneer of Angel Investing in India, Indian Angel Network (IAN) established the IAN Incubator with the support of National Science and Technology Entrepreneurship Development Board, Department of Science & Technology, Govt. of India. Once selected, the projects are incubated over a period of 12 months.
2. The Hatch – The Hatch has both physical and virtual incubators and accelerator programs. It is a non-profit organization and helps startups raise INR 1000,000 to INR 5000,000 of pre seed-stage funding through small-ticket co-investments by mentors and investors. They give a facility of 25,000 square feet space to operate from Gurgaon and Chandigarh.
3. Technology Business Incubator, IIT Delhi – TBI is conceived, programmed and implemented by the Foundation for Innovative and Technology Transfer(FITT)-the Industry interface unit of the Institute. The objective of the TBIU is primarily to promote partnership with new technology entrepreneurs and start-up companies. The entrepreneurs eligible for incubation program include an incubator nursery program initiated by one or more members of academic staff, students or alumni of one of the Institute or a faculty-student led company.
4. Tlabs – It is a startup accelerator as well as an early stage seed-fund for Indian internet and mobile technology startups. Investment of INR 1000,000 for 10% equity. Spread over 16 weeks, the program is broken down to 4 phases, batches starting in February and August.
5. GSF India – GSF Global Accelerator is a 13 week program to foster innovation in the fast growing digital economy of India. The accelerator invests around $25,000 to $30,000 for a single digit equity (5-8%).
6. Veddis – With offices in London and Gibraltar, Veddis has come to India and lowered its anchor in Gurgaon to set up its first incubation center. Veddis intends to invest over $10-20 million in its current incubate companies.
7. 5ideas – 5ideas Startup will invest INR 2.5 crores in selected startups, as well as deeply collaborate as operating partners with the startup teams for a period of 6 months to a year.
8. Information Technology Business Incubator (ITBI), JSSATE-STEP – ITBI is sponsored by the Dept. Of Science & Technology, Govt. Of India for nurturing ICT based start-up companies.
9. Amity Technology Incubator – Amity Technology Incubator is managed by Amity University. It focuses on information and communication technology and electronics and provides technology, business management, infrastructure, mentorship and financing support to startups.
10. SEED-MDI – It is Centre for Entrepreneurship at The Management Development Institute (MDI), in association with HeadStart Network Foundation.
11. Technology based Incubator Society (TBIS), University of Delhi, South Campus – This TBI is aimed at working in different areas of Industrial Microbiology & Biotechnology with an emphasis on fermentation based production of different bioactive molecules. TBI is supported by the Department of Science and Technology (DST). It also has a close association with National Research Development Corporation (NRDC), Federation of Indian Chambers of Commerce and Industry (FICCI). Association of small and medium entrepreneurs (ASME) and others.
12. Shriram Institute–Technology Business Incubator (SRI-TBI) – Shriram Institute-Technology Business Incubator (SRI-TBI) has been setup in the premises of Shriram Institute for Industrial Research, Delhi under the sponsorship of Department of science & technology (DST), Government of India. The SRI-TBI provides services in the fields of plastics, rubbers, specialty chemicals and waste management.
13. Microsoft Accelerator – With a 150+ mentor network and associations with notable organizations, Microsoft has a 4-month accelerator program in two batches – summer batch (applications start in Nov) and winter batch(applications start in May). It offers variety of programs, including Accelerator Plus and Scale Up, are designed to get seed- and series-funded startups the growth and traction they need to be successful in the future.
14. Khosla Labs – Khosla Labs is a startup incubator and innovation lab that focuses on solving large scale problems driven by technology and entrepreneurial zeal. Based on the project traction and business plan, the project gets funded by the Khosla Ventures seed fund and a new company gets spun-off by the lead entrepreneurs from the lab.
15. NSRCEL, IIM Bangalore – The incubator provides office space, Hi Speed Internet facility and uninterrupted Power supply. NSRCEL also provides seed money support. The funding is primarily through government grants and its disbursement is in accordance with the guidelines that have been laid down by the primary funding agency.
16. Angel Prime – It is an incubator that plans to set up multiple startup companies mainly in three areas – Electronic Payments, Ecommerce, Smartphone & Tablet based apps for the Indian market. It will invest USD $200K-$600K with no set rules for equity.
17. Kyron – It is a $50 million accelerator with $100,000 in seed funding for a 10 % equity in the startup. The accelerator will invest in two batches of 10 startups each year and incubate 125 companies.
18. GSF India, Bangalore– GSF Global Accelerator is a 13 week program to foster innovation in the fast growing digital economy of India. It is designed to help product-oriented start-ups.
19. IIIT-Bangalore Innovation Centre – The Innovation Centre offers space, connectivity and other infrastructure facilities at a nominal cost to the startups. Moreover, students are encouraged to work in the enterprises or R&D centres in the Innovation Centre.
20. E-health-TBI, PES School of Eng. Tech Park – This incubator is managed by University of California Santa Cruz. It focuses on health sciences and provides business management, practicing and mentorship support to startups.
21. Global Incubation Services, JSS Institutions Campus – Global Incubation Services (GINSERV) is a Technology Business Incubator (TBI) and a business accelerator. It has been promoted by JSS Mahavidyapeetha, Mysore, with the support of National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India.
22. Start-up Village – This is a learning platform for entrepreneurs that verifies results, and rewards founders with a real degree from partner Universities. It is in a Public Private Partnership with Govt. of Kerala.
23. Society for Innovation and Entrepreneurship (SINE), IIT Bombay: SINE has so far incubated 47 companies, with 17 companies presently in the incubator. The incubator is housed in an area of 10,000 sq. ft., spread over two premises within the campus.
24. Unltd India – It is a launch pad for social entrepreneurs. The incubator offers both financial and advisory services, making a crucial contribution in early-stage start-ups.
25. Venture Nursery – It is a business accelerator that runs a program called BOOTCAMP for 13 weeks and minimum twice a year. Venture Nursery gets 5% equity for accelerator support. Angels associated with Venture Nursery may invest up to 25,00,000.
26. Seed fund – It is an incubator with its own space of about 2,000 square feet.
27. GSF India, Mumbai – Like Delhi and Bengaluru, GSF India has its center in Mumbai too.
28. SP Jain Institute of Management Research Center – This incubator program serves potential entrepreneurs with or without a business idea, keen to launch a business venture.
29. The Startup Center – The Startup Centre is a Hub and Accelerator for Early Stage Technology Startups in India. Accelerator program works with team with product V1.0. Funding of INR 10,00,000 is available. Teams should be based out of Chennai.
30. Villgro, IIT Madras – This is an incubator for social enterprises. Funding per enterprise is up to INR 50,00,000 (milestone based) and is invested as equity and/or quasi-equity.
31. Rural Technology and Business Incubator (RTBI), IIT Madras – This is the sole incubator focusing on rural technologies and businesses across India. It helps in financing by giving seed capital and other sources.
32. Technology Business Incubator, Centre for Biotechnology, Anna University – The business manager for this incubator is Dr. S. Meenakshisundaram.
33. Centre for Innovation Incubation and Entrepreneurship (CIIE), IIM Ahmedabad – It aims to incubate technology-based innovations and help commercialize them. In partnership with their mentors, corporates, development agencies, IIMA community and investors, CIIE cultivates a rare breed of entrepreneurs by incubating, accelerating, mentoring and funding innovative start-ups.
34. National Design Business Incubator (NDBI), NID Ahmedabad – It is an independent entity located within the premises of National Institute of Design set up with the support of Department of Science and Technology, Government of India. There is a 3-year Service Tax Exemption for incubatees of NDBI.
35. Mudra Institute of Communications – Its aim is to encourage the concept of entrepreneurship in the communication sector.
36. The Morpheus Gang– It is an accelerator that focuses on startups that are in their early stages. It has a four-month program with a strong network of over 100+ graduated companies from previous portfolio.
37. The Hatch: Like Delhi/NCR, the Hatch also operates a center in Chandigarh – To help out new businesses and aspiring entrepreneurs.
38. Wadhwani Center for Entrepreneurship Development, ISB, Hyderabad – It’s focus is to incubate and promote entrepreneurial ventures by students. The incubatees get to earn mentorship as well as financial support.
39. CIEE, IIIT Hyderabad – This is an accelerator and an incubator that supports startups working on computer vision, natural languages and speech recognition, with future expansion plans into the ARNR and gaming domain.
40. Life Science Incubator at IKP Knowledge Park – This incubator offers a space of around 3,200 sq. ft. for 8 incubatees to encourage and nurture startup companies and spin offs in pharmaceutical and biotechnology related areas. This incubation lab is operational since January 2006.
41. SIDBI Innovation & Incubation Centre, IIT Kanpur – This incubation center has been set up in collaboration with Small Industries Development Bank of India (SIDBI) to foster innovation, research, and entrepreneurial activities in technology-based areas.
42. Venture Center at NCL, Pune – This is India’s largest science business incubator. It specializes in technology startups offering products and services exploiting scientific expertise in the areas of materials, chemicals and biological sciences & engineering.
43. Technology Incubation and Entrepreneurship Society (TIETS), IIT Kharagpur – An incubation program that helps in promoting entrepreneurship by providing a conducive environment of nurturing and mentoring to the prospective entrepreneurs.
44. TBI, BITS Pilani – This incubator has been set up by the Birla Institute of Technology and Science (BITS), Pilani in association with the Department of Science and Technology (DST), Government of India in the area of Embedded Systems and VLSI Design.
45. TREC STEP, NIT Trichy – This is one of the first Science Parks/Technology Business Incubators in the country, promoted in 1986 by the DST together with Government of Tamil Nadu, and the host institution National Institute of Technology, Tirchy. It acts as a launch pad for budding technopreneurs.
46. Technopark TBI – This incubator had won the best incubator in Asia award in 2012. It is a joint initiative of Technopark and the DST.
47. Technology Business Incubator, NIT Calicut – The Technology Business Incubator TBI-NITC was set up by the National Institute of Technology Calicut at Kettangal, in Kozhikode district. It is supported by the National Science and Technology Entrepreneurship Development Board (NSTEDB).
48. Amrita TBI, Amrita Vishwa Vidhyapeetham – This is a non-profit incubator supported by the Govt. of India. They fund, mentor and nurture ideas, startups and entrepreneurs.
49. Technology Business Incubator, VIT – It was established at Vellore Institute of Technology with the Sponsorship of the Department of Science and Technology, Government of India to assist budding entrepreneurs to incubate their technology venture.
50. Tekincube – It was been founded by IPS Academy, Indore in June 2011 to help early stage business ideas & inventions. It’s an Incubation & seed fund firm that helps early stage business ideas develop prototypes and expand.
Over to You!
You’ve just seen 50 of India’s best incubators and accelerators…..
Now if you too are looking to make your dream business ventures breathe to life, it’s time to contact one of these incubators and accelerators and give wings to your entrepreneurial spirit and your business idea.