Mechanical Engineering Department, National Institute of Technology, Kurukshetra, Haryana, India.
‘Business Incubation’ is emerging as one of the most innovative instruments to support small enterprise creation and development all over the world. This is a relatively recent and innovative system, derived from the earlier SME support programs but with its own distinctive characteristics. The concept of nurturing start-up and early-stage groups at managed workspaces appears straightforward but is complex in structure and execution. Incubators provide local, on the-spot diagnosis and treatment of business problems, dramatically lowering the early stage failure rate. The exceptionally fast growth of business incubators all over the world has baffled even the researchers. Business incubation theories, systems, strategies and techniques are getting transformed every day. In this direction in India, following on the world pattern, several initiatives have been taken over the last decade to encourage the concept of business incubation. This paper discusses the relevance and draws growth profile of incubators in India.
