Accelerators & Incubators in India : The pioneer gap has prevented many Indian innovations to shape into realities, but now with increasing number of accelerators and incubators entering the Indian startup eco system, the future seems brighter. These accelerators and incubators are offering multiple solutions, both through online and offline mediums. They are triggering the next revolution in the Indian economy, that of bridging the Pioneer Gap.
Accelerators and incubators, though often used interchangeably, refer to different sets of solutions providers. An interesting analogy is to compare roles played by both of these to human life’s early stages. An incubator typically acts as a mould while a start-up starts to take shape; more like a parent provides shelter to a child during the childhood to adolescence period. An incubator provides office space and lots of initial sheltering support to the start-up. On the other hand an accelerator steps in after the incubation and provides overall strategy to a start-up more like a father guiding and supporting a child from adolescence to adulthood. In many cases accelerators also invest in these start-up companies apart from other types of accelerating solutions. Another way to differentiate between these two is that, an incubator is guiding a start-up to ensure a success rate of the innovation whereas an accelerator provides wide range of support to ensure a survival rate to the start-up. In both the cases, the major role played is during the early stages of a start-up.
In India as of now, there are more than 60 such players which are guiding and or funding around 500 startups each year. If you are an entrepreneur looking out for an appropriate incubator or accelerator, the best strategy is to closely monitor their announcements.
Article contributed by Manisha Mishra. Manisha is an experienced professional having more than 9 years of work experience spread across various sectors like Telecom, Retail, Education, Entrepreneurship. She is passionate about writing and can be reached at manishamishra at gmail dot com