Incubation is sought after by students, young professionals, women founders, and those with modest financial resources. “This is a positive trend that indicates that the support system is working for those who need it,” the report said, adding that the rate of incubation is high among deep tech sectors such as AI/ML, data analytics, biotech, and other sectors.All of them have an incubation rate upward of 12 percent.The contribution of the incubated startups to the economy has also been significant. The annual average revenues in the initial years for every 100 incubated startups have been about ₹1590 crores. The average value of assets for every 100 incubated startups by the ninth year from incorporation has been estimated at ₹10627 crore. However, the revenue performance of startups associated with industry incubators is 50 percent higher as compared to those supported by academic incubators, it said.Launching the report, Amitabh Kant, G20 Sherpa and ex-CEO of NITI Aayog, said, “In the growth of the Indian startup ecosystem, incubators play a very crucial role, and their contribution has been expanding in recent years. Conceptualised initially to facilitate the formation of start-ups, today, Incubators perform multiple roles, such as bringing together scientific and business expertise, channelling capital to promising start-ups, and increasing awareness of startups in society.”“For the government, incubators are becoming the last link in identifying startup beneficiaries for various schemes and monitoring their progress. I am happy to note that two of the best institutions in the country have joined hands in bringing this timely as well as relevant publication on incubators. Their findings vindicate the policy emphasis on incubators while giving suggestions on how the incubation landscape can be further enriched through various interventions,” he added.Prof. Rishikesha T. Krishnan, Director, IIM Bangalore, said, “The value of innovation cannot be overstated. Incubators play an important role in supporting the unique needs of diverse creators not only by accelerating grassroots development but also by levelling the playing field.”Among the various significant findings of this collaborative research undertaking is that the cities of Chennai and Bangalore lead the startup ecosystem with their high concentration of industry and academic incubators. As IIMB stands at the heart of India’s knowledge capital, we look forward to continuing our sustained contribution to the city’s deep roots—its history and investment in the future of growth and innovation,” he said.Prof. V. Kamakoti, Director of IIT Madras, said, “For Bharat to become a superpower, we must aspire to make our country a startup nation. This effort involves interactions between multiple stakeholders. This report addresses this crucial point and the challenges.”
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