IIM Bangalore and IIT Madras collaborates for India’s startup incubation ecosystem

IIM Bangalore’s startup incubator NSRCEL along with the Centre for Research on Start-ups and Risk Financing (CREST) in IIT Madras announced their joint research study titled, ‘India Incubator Kaleidoscope 2024’. As part of SummitUp, the premier event of NSRCEL, the report was introduced in front of Amitabh Kant, the G20 Sherpa, the Indian government, Rishikesha T. Krishnan, the director of IIM Bangalore, and Anand Sri Ganesh, the CEO of NSRCEL.

Prof. Thillai Rajan A., head of CREST and professor of finance at IIT Madras, Department of Management Studies, and Prof. Srivardhini K. Jha, an IIM Bangalore professor of entrepreneurship and NSRCEL chairperson, led the joint report. According to a press release, the study provides policymakers and business leaders with important insights and suggestions on how to establish and support startup incubators, which are crucial for the development of jobs and economic expansion.

The report's major finding, among other noteworthy conclusions, is that Bangalore and Chennai, with their large concentration of university and industrial incubators, are at the forefront of the startup ecosystem. Prof. Srivardhini Jha highlighted the report, stating that it reflects the activities and impact of incubators and emphasizes the need to increase the quantity and quality of incubation initiatives across the country.

The story around the Indian startup ecosystem has predominantly focused on investors and start-ups, but this analysis highlights incubators as a crucial component of the startup value creation chain, according to Prof. Thillai Rajan A. He stated that studies show incubators boost the legitimacy of the businesses they back, and that the chances of funding an incubated firm are 2.5 times higher than that of an unincubated one.

Prof. V. Kamakoti emphasized that in order for India to become a superpower, it must first establish itself as a "startup nation," and he said that this important issue is covered in the paper along with the difficulties.