Atal Incubation Centres can help to grow and evolve your startup

Atal Incubation Centres can help to grow and evolve your startup

As you know, it’s not easy to launch a startup as more you grow the more problems you would face. As these challenges vary from awareness and sustainability of businesses to legal and enforceability issues. In the entrepreneurial journey, it’s hard to start without guidance and assistance. So here finally, these Incubation Centres have the solution to all your problems.

Niti Aayog has started incubation centers under Atal Incubation Mission in 2016. These centers are called Atal Incubation Centers that would nurture startups and entrepreneurs to become scalable and sustainable.

Atal Incubation Centers (AIC) objective is to promote entrepreneurship and motivate Job Seekers to become Job Creators. The Government has started this scheme to establish incubation centers in both academic (high educational institutes and R & D institutions) and non-academic sectors (companies\corporate\technology parks \industrial parks \any individual).

Under this Scheme, the Government has selected about 80 academic and non-academic applicants to be Incubators. These Incubators belong to the different area of India to outreach entrepreneurs and startups.  Now, these Incubators would link with new innovator and small enterprises to help them grow. These collaborating startups with Incubators are called Incubatees.

How can an Incubator help?

  •  Incubation centers help incubatees to start from scratch.
  • AICs are established for specific sectors such as water and sanitation manufacturing, transport, energy, health, education, agriculture, etc.
  • Every state has their own incubation centers.  Here the list of shortlisted incubators http://niti.gov.in/writereaddata/files/
  • Incubation centers will provide financial support to grow into a self-dependent company.
  • AIC’s unit will provide infrastructure facilities for a certain period.
  • Furthermore, incubators assign experts from different sectors for mentoring.
  • It also provides business planning support to encourage startups.
  • For the monthly review, Incubatee needs to submit a complete report.
  • However, the standard incubation period for every firm is only 2 years.

Selection Process for becoming incubate:

Every Incubation center has its own criteria to select the applicants. Here is an overview of the process that generally each center follows:-

  • First of all, Submit an online application together with the business plan.
  • Next, the center will do a screening process to select qualified applicants.
  •  Accordingly, the management team will contact the qualified applicant for further discussion at the firm.
  • Then the representative team will perceive the proposed business idea along with discussion in detail and formal presentation at the firm.
  •  After final analysis, an agreement will sign in between an incubatee and incubator.
  • Hence, all the documents including business model, details of infrastructure and capital requirements will submit to the firm.

To know in brief, here are some links of Incubation centers:

http://www.nitrkl.ac.in/Industry/Industry-Relations/Policy.aspx

http://www.iitk.ac.in/siic/d/content/incubation-admission-procedure

http://www.iimcip.org/incubation/process/

http://www.aicbanasthali.org/

https://www.iimu.ac.in/media/events/recents-events/iimu-incubation-center-one-day-workshop

https://icubedelhi.in/

Consequently, Incubation centers will create more opportunities not only for job creators but also for job seekers.

Hope this post will help you to start your own venture.

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