The Department for Promotion of Industry and Internal Trade (DPIIT) and Johnson Controls-Hitachi Air Conditioning India Ltd. have inked a Memorandum of Understanding (MoU) to build an incubator to assist businesses in Gujarat that are focused on manufacturing. In terms of Johnson Controls-Hitachi Air Conditioning India’s dedication to fostering innovation and bolstering the nation’s manufacturing environment, this is an important turning point.
The purpose of this Startup Incubator is to support technical innovation, sustainability, and energy efficiency by offering a strong platform to firms that are concentrated on particular manufacturing sectors. Under the direction of Sanjay Sudhakaran, Managing Director, Johnson Controls-Hitachi Air Conditioning India Limited, India & South Asia Region, and Sumeet Jarangal, Director, DPIIT, Ministry of Commerce and Industry, the Memorandum of Understanding was formalised. The joint secretary of the DPIIT, Sanjiv, was also present during the signing-off ceremony.
According to Director of DPIIT, Ministry of Commerce and Industry Sumeet Jarangal, India is moving closer to a Viksit Bharat as a result of the Prime Minister’s “design in India, design for the world” philosophy. With several programmes like the Make in India and Production-Linked Incentive Scheme, he continued, the Indian government is dedicated to growing the manufacturing sector. He underlined that developing an ecosystem of startups and an innovation pipeline are critical components of strengthening India’s manufacturing sector.
He expressed optimism that the collaboration with Johnson Controls-Hitachi Air Conditioning India Ltd. will give the nation’s youthful innovators and entrepreneurs the much-needed support and direction.
Providing Mentorship and Guidance
The manufacturing entrepreneurs will receive mentorship and coaching on a range of crucial topics, from concept-to-prototype development, project viability evaluation, and go-to-market strategies, from the Johnson Controls-Hitachi Air Conditioning India Limited incubator. In order to enable the commercialisation of unique items, the organisation will also assist clients in managing future financial demands in addition to other essential services like legal and intellectual property filing.
The Government of India and DPIIT deserve praise for their innovative idea and for offering this special platform that links entrepreneurs with the industry, opined Sanjay Sudhakaran, Managing Director of Johnson Controls-Hitachi Air Conditioning India Limited in the India & South Asia Region. He stated that it’s time for India to achieve a similar level of success in the manufacturing sector, having already demonstrated its inventiveness and entrepreneurial skill in the IT sector with many unicorns. He added that Johnson Controls-Hitachi Air Conditioning India Limited has made significant investments in India to build top-notch R&D and production capabilities.
The Gujarat Connection
The Johnson Controls-Hitachi Air Conditioning India Limited is supported by Japanese innovation, technology, and industry-leading experience. He underlined that the Global Development Centre and the production site in Kadi, Gujarat—one of the biggest air conditioner manufacturing facilities in India—are dedicated to providing Indian consumers with cutting-edge, high-end, and feature-rich air conditioning products.
The company is thrilled to work with DPIIT to establish a cutting-edge incubator at its Kadi, Gujarat, location, according to Sanjay Sudhakaran. This strategic partnership between Johnson Controls-Hitachi Air Conditioning India Ltd. and DPIIT demonstrates the company’s commitment to innovation in the manufacturing sector and is in line with the Indian government’s goal of promoting industrial growth and technical advancement. Manufacturing-focused businesses would receive the critical support and mentoring needed to realise their ideas through this incubator.
A startup incubator is a collaborative program designed keeping in mind to help new startups succeed. The main goal of a startup incubator is to help entrepreneurs grow their businesses. Mostly, startup incubators are non-profit organizations that are usually run by both public and private entities.
Startup incubators play the most needed and important part of the startup ecosystem. Read the full article to know more about startup incubation centers in India.
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Startup incubators are organizations that help business people to build up their business, particularly in the underlying stages. Incubation facilities are typically provided by institutions that have experience with the business and innovation world. Startup Incubators in India support incorporates giving technical facilities and advice, initial development fund, network, and linkages, collaborating spaces, lab offices, tutoring, and advisory help Indian startup Incubators.
Here’s the list of top 10 startup incubation centers in India:
1. CIIE IIMA
Centre for Innovation Incubation And Entrepreneurship – IIMA
Startups Funded:
EzySolare
Glowship
Glass
At the heart of IIM Ahmedabad lies this center for innovation incubation & entrepreneurship which stands as a pioneer in the field of the entrepreneurial sector as an incubator which has given birth to many startups. Established in 2007, CIIE is a not for profit company governed by a board comprising government, industries, and IIMA representatives. It helps in cultivating a rare breed of entrepreneurs by incubating, accelerating, mentoring, and funding the startups. This Indian startup incubator engages with ventures across tech and impact areas like energy, environment, agriculture, healthcare, and affordable technology.
2. IAN incubator
Indian Angel Network
Startups Funded:
FarMart
NativeSpecial
Starting in April 2006, the IAN startup incubator is established by India’s angel network (IAN), India’s largest group of angel investors established with the support of DST. The members of the sector being prime leaders in the entrepreneurial sector, in addition to money, also provide high quality mentoring, vast networks, inputs on strategy as well as execution. Sectors of the investment are agriculture, e-commerce, gaming, internet, mobiles, etc.
3. Sine
Society for Innovation & Entrepreneurship
Startups Funded:
Aqua
Bhugol
ideaForge
Established in 2004, sine stands for the society for innovation & entrepreneurship. This Indian startup incubator is hosted by IITB as an umbrella for the promotion of entrepreneurship, financially assisted by DST and technology development board to provide seed support in form of grants, interest-free loans, soft loans, or equity participation over 5 years. Sine provides help to startups in the impact areas of technology-based entrepreneurship.
4. STEP
Science and Technology Entrepreneurship Park
Startups Funded:
iKure Techsoft.
Science and technology entrepreneurship park (STEP) was established as an Indian startup incubator for new startup ideas in IIT Kharagpur in the year 1986. it receives financial support from the department of science and technology (DST) and the national science and technology entrepreneurship development board (NSTEBD). Its goal is to nurture successful indigenous technologies and growth-oriented entrepreneurs/enterprises. It provides space as well as seed fund to the startups.
5. Nsrcel
Nadathur S. Raghavan Centre for Entrepreneurial Learning
Startups Funded:
Science Hopper
Gamatics
BubbleNut Wash
Highway Delight
The Nadathur S Raghavan center for entrepreneurial learning (NSRCEL) at IIM Bangalore hosts the biggest nonprofit startup incubator set up with the support from the Michael and Susan dell foundation for nurturing startups in their early growth state. It aims at grooming entrepreneurs to bring about innovation in public sectors of the society. It provides a few lucky startups with a robust set of wrap-around services including mentoring support, consulting services, and training programs, thus enabling them to get the most exposure. NSRCEL currently nurtures almost 18 startups probably the highest number to be taken up by an educational institution in India. Since the foundation in 2000, NSRCEL’s rapidly growing open mentoring initiatives have conservatively estimated that it may have directly impacted more than 10,000 entrepreneurs, aspiring entrepreneurs, or other participants in the ecosystem.
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Centre for Entrepreneurship and Innovation (CEI) is one of the centers of excellence established by the Indian Institute of Management (IIM) Calcutta to accomplish a more prominent understanding of an effective mechanism for the promotion of professional management practices in Indian organizations, as well as to stimulate the development of these startups in india for societal benefit. CEI’s vision is to be recognized as a program of worldwide prestige, where students, faculty, alumni, industry, and policymakers collaborate, learn, and innovate. The team comprises faculty from different functional areas and disciplines which makes it easier to get inputs and mentoring. Some of its areas of work are entrepreneurial research and case development and venture creation.
Kerala Startup Mission ( previously Technopark TBI) came into existence as a startup incubator in 1990 at Kerala State Capital. KSM companies employ more than 50000 IT professionals. Spread across 760 acres of land with 9.33 million sq. ft built up space ( completed ) & 3.5 million sq. ft (Work in Progress) and over 350 companies operational at present. This startup incubator has successfully provided a platform to attract investors for their startups.
The brainchild of IIM Lucknow, IIML – Incubator stands as a pioneer in turning entrepreneurial ideas into viable businesses. managed by a separate council under the institute, it receives. all directions of functioning from it. IIML – Incubator ensures that the startups growing under it get all the benefits from it which include financial, mentorship, and infrastructural support throughout incubation. It also promises technical assistance from trained professionals in their areas of expertise.
9. pupilfirst
pupilfirst Incubator (previously Startup Village)
Startups Funded:
MindHelix Technologies
finahub
tagNpin
pupilfirst (previously Startup Village) is a not-for-profit startup incubator based in Kochi, India. It started in April 2012. On January 1, 2016, Kerala Startup Mission assumed control over the physical space of the famous pupilfirst at Hi-Tech Park in Kalamassery. The association meant to launch 1,000 innovative new businesses throughout the following ten years and start the quest for the following billion-dollar Indian organization. It focuses primarily on student startups and telecom innovation. It is India’s first incubator that is supported financially together by people in public and private divisions. The promoters of pupilfirst are the Department of Science and Technology, Government of India, Government of Andhra Pradesh, Technopark, Trivandrum, and MobME Wireless. Since 2012, pupilfirst has helped nearly 590 physical and virtual incubates in Kochi and 200 in Vizag.
10. Villgro
Villgro
Startups Funded:
Yostra Labs
VAHAN
SkillTrain
BEMPU
Villgro, earlier known as Rural Innovations Network, is one of the top from the list of incubators in India. Villgro is India’s most established and first social venture incubator. This incubators is also one of the social entrepreneurial firms in India. Villgro funds, mentors, and incubates early-stage, innovation-based social enterprises that impact the lives of India’s poor. It was established in 2001 by Paul Basil with the mission of hatching early‐stage, imaginative organizations and has since worked in finding a huge number of advancements and pioneers, and brooded over 100 businesses.
All these startup incubation centers has given a boost to the growth of startup ecosystem in India. We have tried to discuss the startup incubation centers in India that have helped many startups from the scratch.
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Startup incubators are institutions that help entrepreneurs to develop their business, especially in the initial stages. Incubation function is usually done by institutions that have experience in the business and technology world.
How do Incubators help startups get funding?
Most incubators run demo days where the entrepreneur has a chance to present his idea before investors to secure funding. Investors also like startups from incubators as they have a certain amount of faith in well-known incubators and expect the ideas and startups to be vetted to a large extent.
How many Incubators are there in India?
India has the 3rd highest number of incubators with over 250 incubators being present in India.
Avantika Bhardwaj
