We might see 35 incubators coming up under the Startup India initiative
New Delhi, India | Red Newswire | Jan 18, 2016 Last Updated at 7:00 PM IST.
Many student-entrepreneurs find that the academic incubators lack technical expertise that is very important for early stage startups. Aditya Nayak (name changed) of IIT-B is one of them and founder of an AI startup.
Nayak said, “It’s not enough to provide working space for a subsidised fee and leave it at that. In the early stages we need help figuring out an appropriate business model and ensuring we don’t experience quick cash burns that send us crashing in a few months.” Nayak turned to a private incubator after disappointed by an academic incubator and since then his startup has been able to churn out a much stronger business model.
The startup action plan unveiled by PM Modi includes setting up of 35 new incubators based upon PPP (public private partnership) model. Dr. Apoorv Ranjan, founder of Venture Catalysts said, “The reform in startup policies indicates we are moving in the right direction. However, private incubators are better in technical knowledge and mentoring.”
Source: ET Bureau