IIT-M, IIM Bangalore release start-up incubation ecosystem report

CHENNAI: NSRCEL, the start-up incubator at IIM Bangalore, and the Centre for Research on Start-ups and Risk Financing (CREST) IIT Madras, on Friday announced the release of their joint research report ‘India Incubator Kaleidoscope 2024’.

Launching the publication, Amitabh Kant, G20 Sherpa, Government of India and ex-CEO, NITI Aayog said, “In the growth of the Indian start-up ecosystem, incubators play a very crucial role, and their contribution has been expanding in recent years. Incubators, conceptualised initially to facilitate the formation of start-ups, today perform multiple roles such as bringing together scientific and business expertise, channelising capital to promising start-ups, and increasing awareness of startups in society. For the government, incubators are becoming the last link in identifying start-up beneficiaries for various schemes and monitoring their progress.”

V Kamakoti, the Director of IIT-M said, “For Bharat to become a superpower, we must aspire to make our country as a Start-up Nation. This effort involves interactions between multiple stakeholders. This report addresses this crucial point and the challenges. I am sure the recommendation of this report will be immensely beneficial for all the stakeholders.”

The joint effort offers valuable insights and recommendations to policymakers and business leaders on how to create and nurture thriving start-up incubators, which are essential for job creation and economic growth.

Speaking about this study, professor Srivardhini Jha of IIT-M said, “Incubators play a crucial role in making entrepreneurship more accessible and inclusive across the country but their activities and impact are not well understood. This report addresses that gap and highlights the need to both raise the level of incubation activity and enhance the quality of incubation efforts nationwide.”