Entrepreneurship being the in thing in this era, comes with loads of challenges, the major one being getting the seed capital to bring the idea into life. The sweet gospel is that there are venture capitalists and non profits making organizations that are willing to hold your hand and see you walk this entrepreneurship journey successfully. With that unique idea that guarantees great returns in future, potential investors will not bat eyelids, trying to gamble on whether to absorb you are not, they will gladly take you in.
The main goal of a business incubator is to encourage the development of new business within the local community. By assisting a local entrepreneur to start a company in the area, the community is likely to benefit from an increase in the number of available jobs in the area and the additional revenue that is brought to the city or town as a result of the new business activities. Both elements can help to revitalize a local economy and thus enhance the quality of life for everyone who lives and works in the area.
World over, Micro and Small Enterprises (MSEs) are recognized as an important constituent of the national economies, contributing significantly to employment expansion and poverty alleviation. Ministry of MSME – the nodal Ministry for the development of entrepreneurship has initiated the Business incubator.
Government’s startup policy gives prime role to incubators by giving them recognition, regulation guidelines and financial help. The identified incubators have to provide various assistances to Startups. Incubators have an important role in the government’s Startup India Scheme. As part of the Scheme, the government has recognized 56 incubators across the country for supporting the startups. These incubators can recommend startups for availing benefits under the Startup India Scheme.