IIT-M develops India's first information platform on incubators
Choosing the right incubator can significantly contribute to the success of the start-up in subsequent years.
IIT-Madras (File)
CHENNAI: The Indian Institute of Technology Madras (IIT-M) on Monday informed that it has developed India's first information platform on incubators and accelerators.
"The platform, developed in partnership with YNOS, an IIT Madras-incubated start-up, contains comprehensive information on incubators and accelerators, which play an important role in helping start-ups navigate an uncertain entrepreneurial ecosystem. While India had about 1,000 active incubators, until now, the information about them was scattered and not easily available in a single location. Entrepreneurs had to spend a lot of time and effort to identify the incubator most suitable for their start-up.The platform developed by CREST addresses this pain-point and helps the start-up founders to identify, compare and analyse incubators very easily, " said a release from IIT-Madras.
Called 'Incubators', this AI-powered platform will help start-up founders to identify incubators and accelerators across India and shortlist one that best fits their requirements, it added.
Incubation is a very critical phase in the start-up lifecycle.
Choosing the right incubator can significantly contribute to the success of the start-up in subsequent years.
The Incubators Platform can also benefit the CEOs and Managers of incubation centres to get the attention of start-up founders for their incubation centres and benchmark themselves against comparable incubators and constantly improve their effectiveness.
Other stakeholders associated with the development of the start-up ecosystem such as educational institutions, government and funding agencies, would also benefit from this platform.
"The platform will no doubt benefit the incubators too in many ways. Being a neutral platform, it gives an opportunity to incubators to get the attention of start-up founders, policy makers, and investors and showcase the strengths of their incubation centres. The managers of the incubation centres can also use this to benchmark their facilities with other incubators and constantly achieve higher levels of performance," opined Jayesh Ranjan, IT secretary to Telangana government.