“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 …