“A Technology incubator effectively links talent, technology, capital, and know-how in order to boost techno entrepreneurship and to accelerate the process of economic development through new companies” .
A more or less exact description of an Incubator could be as below
Technology business incubators…nurture and grow start-ups in the Technology driven economy. They offer start up companies with office space, networking oppurtunities, seed funding support, and some value added services such as mentoring, accounting, and legal advice etc usually in . The incubators tend to be NOT FOR PROFIT organisations but tendto charge equity stakes for the subsidies availed.
Exactly similar to a large corporation not being merely composed of a building, the incubator is also not limited to the physical facility and its shared services. Instead, it is composed of a group of expert working together for improving the success rate of Young Companies in the start up phase.
Attention need to be given to provide networking oppurtunity with the corporate community and the incubatees. The corporate community has significant role to play in moulding successful global venturesas well as the types of services that need to be provided by the incubator. The Incubator shall work instrumental to provide the necessary value addition to the Incubatees in this area, which unfortunately is missing in most Incubators.
Incubation at Technopark TBI, Trivandrum is different …
A very happy beginning to T-TBI in 2009, having bagged three of the most prestigious awards by our Incubatees . Again Technopark TBI proves to be the Best TBI in the Country by delivering the requisite output.
- Light Logics won the ISBA 2009 Award for the Best Start up Engineering company for 2008 .
Indian STEPs(Science & Technology Entrepreneurship Park) and Business Incubators Association [ISBA] and TREC-STEP jointly organised “The International Conference on Business Incubation: Creating an Innovation Economy through Entrepreneurs and Incubation” from 29th to 31st January, 2009 at Chennai.
This international conference on Business Incubation saw the confluence of great minds in Incubation which brings together the incubation and interface experts, promoters and the potentials in business incubation across the globe. There were 300 participants from Incubation arena with 48 International delegates.The conference focussed and deliberated on evolutionary issues and trends in business incubation, complementing factors for incubation, incubation mapping, latest incubation tools and techniques, new perspectives development and future hold for development of Innovation and Entrepreneurship through Business Incubators.
This year ISBA instituted Awards for the Best Start up Entrepreneur. On 31st evening Jan 2009 ISBA Awards were given away during the Valedictory Session of ISBA 2009 Conference. The award ceremony was a proud moment for Technopark TBI with Two of the Incubatees MobMe Wireless Solutions P Ltd winning the “ISBA 2009 Award for the Best Start up ICT Company of 2008″ and Light logics Holography and Optics P Ltd winning the “ ISBA 2009 Award for the Best Start up Engineering company for 2008 “ .The Awards were given away by Dr. Ponmudi, Honorable Minister for Higher Education, Govt of Tamil Nadu.
The Award Committee received a total of 64 proposals from various Incubators across India. The ISBA National Award is a recognition for the outstanding startups and entrepreneurs