We @ pricecheckindia love startups. We really do. And this post is out of that love to support the community in any way possible.
Sometime back we were discussing options to find business incubation for our idea. We researched fairly and part of this article was the result of that research. We thought why not complete the research and publish it out for everyone’s use.
Startup incubators are a growing trend and a great thrust to support first time entrepreneurs across India. There are all kinds of efforts in this direction – Govt supported Institute based technology incubators, Private business incubators started by industry veterans and startup accelerators supported by companies and VC funds. Individually there are differences between how they incubate, structure the program, operate, support/fund and accelerate the ventures. We have tried to cover the fundamentals of each of them succinctly, but readers will do good to dive in each entity to understand more.
Difference between Incubators and Accelerators
We would like to talk about one major difference though. We generally hear two terms more often than others – Incubators and Accelerators – and people use them interchangeably. So what is the difference between the two ? Are they same ? The definitions of the terms is the answer.
Accelerators accelerate the speed of your business. In most cases an existing business or an idea. The programs are short and intense. They help you hone your idea and build it out. Whereas incubators incubate your early pre-product idea, help you make a prototype, and further make a product out of it. The engagement is longer than an accelerator. There are more nuances to above, but you can start with this fundamental definition.
We saw many lists made on business incubators and accelerators but we think a list by cities make more sense. Feel free to point out mistakes if any or add on to the current list in the comments below. We will append the suggestions to the post.
Business Incubators and Accelerators in Delhi NCR
- Indian Angel Network Incubator: Established from the support of National Science and Technology Entrepreneurship Development Board(NSTEDB), Department of Science & Technology(DST), Govt. of India. The ventures are incubated for 18-24 months. IAN is reputed for its huge network of successful entrepreneurs, domain experts, academicians and experienced professionals.
- The Hatch: The Hatch has both physical and virtual incubators and accelerator programs. The incubator program is 52 week long and included 13 weeks of accelerator program. Startups can operate out of 25,000 square feet facility in Gurgaon and in Chandigarh. Possibility of funding of up to Rs.10 lacs + Access to investors for funding up to Rs.1 cr.
- Technology Business Incubator, IIT Delhi: Proposals are accepted from ventures that should be initiated by one or more members of academic staff, students or alumni of the Institute or a faculty-student led company for this technology incubator. They are strict on venture selection and interested companies should
exploring tying up with college professors. DST and MSME grants are available for venture’s fund requirements.
- Tlabs: A startup accelerator by Times Internet Limited. Investment of Rs. 10 Lacs for 10% equity. The program lasts for 13 weeks with mentorship from renowned entrepreneurs and angel investors along with office space for the team. Batches in February and August.
- GSF: GSF boasts to be the only multi-city accelerator with presence in Delhi, Mumbai and Bangalore. It is spearheaded by Rajesh Sawhney, former President, Reliance Entertainment. The accelerator mostly invests around $ 25,000 to $ 30,000 for a single digit equity (5-8%).
- Veddis: This business incubator promises ready office environment including office space, technology infrastructure and critical support services required to develop products, manage web-presence. Investments range from $250k to $10M. Veddis has both investment and incubatee companies in its portfolio.
- 5ideas: Founded by Pearl Uppal (founder-F&U) and Gaurav Kachru (founder-dealsandyou). 2.5 cr per startup and deep collaboration for 6-12 months and 5 startups a time. Another interesting initiative – Founders-in-Heel – to boost women entrepreneurship specifically.
- Information Technology Business Incubator(ITBI ), JSSATE-STEP
- Amity Technology Incubator
- Technology based Incubator Society (TBIS), University of Delhi , South Campus
- Shriram Institute for Industrial Research , Shriram Scientific and Industrial Research
Business Incubators and Accelerators in Bangalore
- Microsoft Accelerator: 4 months of accelerator program with intake of two batches – summer batch(applications start in Nov) and winter batch(applications start in May). Provides free software and development tools via Microsoft’s BizSpark program.
- Khosla Labs: Brainchild of famed Vinod Khosla. Not much info available yet. Spearheaded by Srikanth Nadhamuni, Head of Technology at Unique Identification Authority of India (UIDAI), as the CEO of the labs. Read an article about their intent here.
- NSRCEL, IIM Bangalore: Physical incubation facility at IIM Bangalore campus. Support included subsidized facilities like office space, power and infrastructure and services like finance, legal, HR etc. Offers seed funds under DIT TIDE scheme.
- Angel Prime: Incubator founding team promises to work like co-founders with entrepreneurs. USD $200K-$600K as investment and no set rules for equity. Raised funding from Mayfield India. Focus areas include mobile internet, e-commerce and tablet/mobile app space.
- Kyron: Lalit Ahuja, John Cook and Larry Glaeser. $50 million accelerator with $100,000 in seed funding for a 10 % equity in the startup. Plans to invest in two batches of 10 startups each year and to incubate 125 companies. First batch in February, 2013
- GSF: See above in Business incubators in Delhi section for more details.
- IIIT-Bangalore Innovation Centre
- E health-TBI, PES School of Engg . Tech Park
- Global INcubation SERVices, JSS Institutions Campus
Business Incubators and Accelerators in Mumbai
- Society for Innovation and Entrepreneurship(SINE), IIT Bombay: SINE extends the role of IIT Bombay by facilitating the conversion of research activity into entrepreneurial ventures. Financial assistance is provided by DST. Infrastructure spread over 10000 sq.ft., can accommodate about 15-17 companies. A necessary requirement for incubation is linkage with IIT Bombay.
- Unltd India: Works with early-stage social entrepreneurs. Programs include incubation, an intensive accelerator and a coworking facility for social entrepreneurs called
The Hub. 3 tier seed funding going from Rs.80,000 to Rs.20 Lakh.
- Venture Nursery: A physical business accelerator program called BOOTCAMP is run for 13 weeks, minimum twice a year. Maximum of 8 starts are selected at a time. Venture Nursery gets 5% equity for accelerator support. Angels associated with Ventury Nursery may invest upto 25 Lacs after graduation.
- Seedfarm, Seedfund: Physical Incubator has its own space of about 2,000 square feet in Bombay, right next to the Seedfund office.
- GSF: See above in Business incubators in Delhi section for more details.
- SP Jain Institute of Management Research Center
Business Incubators and Accelerators in Chennai
- Startup Center: Two programs – resident and accelerator. Resident program focuses on minimum viable product in first three months. Program fee is Rs 50,000 + 1% equity -
scholarships are available too. Teams get software freebies. Accelerator program works with team with product V1.0. Funding of Rs 10 Lacs available. Teams need to be based out of Chennai.
- Villgro, IIT Madras: Incubator for social enterprises. Funding per enterprise is up to Rs 50 Lacs(milestone based) and is invested as equity and/or quasi-equity. Focus verticals include Healthcare, Education, Agriculture and Energy.
- Rural Technology and Business Incubator (RTBI), IIT Madras: Unique distinction of having been funded both by the World Bank’s InfoDev Project and DST as the only incubator focusing on rural technologies and businesses in India. Provides seed capital and further supports financing through other sources.
- Technology Business Incubator, Centre for Biotechnology, Anna University
Business Incubators and Accelerators in Kerela
- Start-up Village: Public Private Partnership with Govt. of Kerala. Rs.100 cr for 1,000 student startups over a span of 10 years. Students entrepreneurs in the state of Kerala would get attendance and marks grace under this program. Startups recognized by DST would have tax exemption for 3 years for amounts up to 50Lacs.
- Technopark TBI: Joint initiative of Technopark and the DST, won best incubator in Asia award in 2012. More than 165 startups incubated in last 9 years. Startups are incubated for 11 months, which can be increased later for 11 more months. A nominal fee is charged for infrastructure. Funding support through DST, DSIR.
- Technology Business Incubator, NIT Calicut
- Amrita TBI, Amrita Vishwa Vidhyapeetham
Business Incubators and Accelerators in Ahmedabad
- Centre for Innovation Incubation and Entrepreneurship (CIIE), IIM Ahmedabad: Comprise of faculty, alumni and students of IIMA, mentors and service providers from the industry who span a variety of functional areas, sectoral domains and geographies. Recently launched $25mn Cleantech fund.
- National Design Business Incubator(NDBI), NID Ahmedabad: Incubator focus to promote design focussed entrepreneurship. Physical incubation period in NDBI is 24 months which can be extended further by 6 months or more. Physical Incubatees of NDBI are eligible for Service Tax Exemption for three years. Grants are provided through funds from DST, TePP and DIPP.
- Mudra Institute of Communications: Communications Technology Based Business Incubator. Good infrastructure of communication technologies like Digital Design & Publishing, Digital I-Mac lab, Television Audience Measurement Lab etc. Additional Technical, financial, infrastructural, physical and intellectual support.
Business Incubators and Accelerators in Chandigarh
- Morpheus: Morpheus Startup Accelerator focuses on “super-early stage startups” in a program for 4 months. The accelerator has a strong network of over 100+ graduated companies from previous portfolio. They take 6-9% of equity for the time, support and an investment of 5 Lacs rupees. Founders of this accelerator are based out of Chandigarh, but startups dont need to move to Chandigarh, and interactions happen over phone, skype etc.
- The Hatch: See above for details.
Business Incubators and Accelerators in Hyderabad
- Wadhwani Center for Entrepreneurship Development – ISB, Hyderabad: Business incubator at ISB, funded and established by Wadhwani Foundation. Another program is K-Hub – a hybrid business incubator in collaboration with Govt. of Andhra Pradesh for new and emerging SMEs. A entrepreneurship development fund is proposed to be setup under PPP involving Govt., Investors, and ISB.
- CIE, IIIT-H Foundation
- Life Science Incubator at IKP Knowledge Park
Other important business incubators across India
- SIDBI Innovation & Incubation Centre, IIT Kanpur: IIT Kanpur has set up the SIDBI Innovation & Incubation Centre (SIIC) in collaboration with Small Industries development
Bank of India (SIDBI) to foster innovation, research, and entrepreneurial activities in technology-based areas.
- Venture Center at NCL, Pune: A CSIR Initiative for technology businesses (inventors and scientist entrepreneurs). Various programs – Lab2Mkt program, Mining Program, Social Entrepreneurship Program and BioIncubation. Funds available through DSIR, TePP, MSME and DBT.
- Technology Incubation and Entrepreneurship Society (TIETS), IIT Kharagpur
- TBI, BITS Pilani
- TREC STEP, NIT Trichy
- Technology Business Incubator, VIT
- 500 Startups: Founder by Dave McClure famous angel investor from Silicon Valley. Raised $50mn in 2012 (global fund).Phase 1: $25K investment.~9 in India (so far), including Teleport, MyGola, Cucumber town.
- Malviya Centre for Innovation Incubation & Entrepreneurship , IIT BHU
- Technology Business Incubator, KIIT University
It will be awesome to have comments, suggestions and additions to this list – pls. leave your comments. We promise to update them to maintain this as a master resource. We have also seen people don’t really understand the various funding schemes of govt. for entrepreneurs – yeah, govt. keeps everything a great black box – you can bank on us to solve it in the coming time.
[Update - Feb 01, 2013]
Some more useful related links
- There are some concerns about how some of these accelerators operate – a great post by VijayAnand-The Startup Center here.
- Find a detailed post on Govt. funding options here.
- Visuals are always better, so we added a representation of above data. This way you can possibly share this with your friends on social media.