Incubating the Tech Toddlers
Date: Saturday , September 30, 2006
Over 90 percent of the money invested by venture capital firms in India is in late stage ventures. Very few innovative startups are being funded. If India needs to emerge as a technology super power, innovative startups need to be encouraged.
With thousands of engineering and management graduates rolling out of our IITs, IIMs, IISc, NITs and other prestigious engineering colleges every year, only a miniscule takes the entrepreneurial route.
The zeal to take the entrepreneurial path amongst the educated Indians is comparatively feeble to their western counterparts; this owing to social inhibitions, cultural backgrounds, and most often, the economic backdrop. Access to capital, particularly for early stage development, is a major hurdle.
In such a scenario, how do you create a vibrant entrepreneur community?
Some of the prestigious institutions of the country have taken a lead in creating incubation cells. They are encouraging techno-entrepreneurship among their wards by providing appropriate facilities and the infrastructure to realize their dreams, transition their ideas into products, start their own ventures. Going forward, incubators might well be the only viable option for early stage companies in India.
Knowledge and innovation are the natural resources of the 21st century, and developing the capacity to support the people and industries that possess these resources is a critical element to economic growth. In this context, incubators are a vital component of an effective technology-led economic development that India needs at this juncture.
Do let us know what you think.