Economic Affairs
  • Year: 2024
  • Volume: 69
  • Issue: 2

Driving innovation and economic development: The role of business incubators in agri-tech start-up ecosystems

  • Author:
  • Ashish Kumar Isher*, Veer P. Gangwar
  • Total Page Count: 11
  • Published Online: Mar 3, 2025
  • Page Number: 831 to 841

Mittal School of Business, Lovely Professional University, Phagwara, Punjab, India

*Corresponding author: ashishisher222@gmaU.com (ORCID ID: 0000-0002-5628-5725)

Online published on 3 March, 2025.

Abstract

The research delved into the crucial role of Business Incubators (Bis) in fostering the success of start-ups, focusing specifically on the burgeoning Agri-tech sector. Through a blend of primary data collected from Agri-tech start-ups with the help of a well-structured questionnaire and secondary data sourced from governmental departments, a comprehensive analysis was conducted to assess the impact of incubation services on start-up success. The findings underscored the significant growth in job creation within India's start-up ecosystem, particularly attributed to initiatives like Startup India. The data highlighted the substantial contribution of start-ups to employment generation and economic advancement. Additionally, the upward trend in venture capital investment in the agritech sector emphasized the industry's potential for growth and innovation. The study revealed a significant correlation between incubation services and start-up success. Services such as access to funding, mentorship, and legal support emerged as critical factors in driving start-up success.

⓿ Business Incubators are pivotal in enhancing Agri-techstartup success.

⓿ Agri-tech startups significantly boost job creation and economic growth in India, fueled by initiatives like Startup India and rising venture capital investments.

⓿ Business incubators provide critical support in funding, mentorship, and legal services

Keywords

Start-up, Business Incubators, Innovation, Economic Development, Entrepreneurial Ecosystem