IIM-B, IIT-M release India Incubator Kaleidoscope 2024 Report; Gives Insights on Startup Ecosystem
The report, launched during the SummitUp event featuring prominent figures like Amitabh Kant, G20 Sherpa, emphasizes the urgent need for policymakers and business leaders to prioritize the development of effective incubators.
The Indian Institute of Management (IIM) Bangalore's NSRCEL and the Indian Institute of Technology (IIT) Madras's Centre for Research on Start-ups and Risk Financing (CREST) have launched a groundbreaking research report titled “India Incubator Kaleidoscope 2024.” The report sheds light on the crucial yet often overlooked role that incubators play in fostering entrepreneurship across India.
Professor Srivardhini Jha, a lead researcher on the project, emphasized the report's significance, stating, “Incubators play a crucial role in making entrepreneurship more accessible and inclusive across the country, but their activities and impact are not well understood. This report addresses that gap and highlights the need to both raise the level of incubation activity and enhance the quality of incubation efforts nationwide.”
Key Findings of the Report
Incubator Growth and Distribution
- India is home to over 1,100 incubators for startups, with 45% located in southern states.
- Tier I cities account for nearly half (48%) of these incubators, showcasing a concentration in urban areas.
- Regional variances are notable: Chennai has a high percentage of academic incubators (82%), while Bengaluru and Gurugram are hubs for industry-focused incubators (71% and 84%, respectively).
- India has only 0.8 incubators per million people, significantly trailing behind countries like the US and China, which boast 8-10 incubators per million.
Incubator Utilization Trends
- A mere 8.2% of startups leverage incubators, with only 20% of these incubators supporting 98% of startups.
- More incubators correlate strongly with increased startup activity, evidenced by a 0.84 correlation.
- Incubators attract diverse groups, particularly students, women founders, and low-income entrepreneurs.
Impact of Incubation
- Startups within incubators secure their first funding twice as quickly, with 27.1% obtaining it within a year versus 15.4% for non-incubated startups.
- Incubated startups are five times more likely to win awards and file patents.
- The longevity of incubated startups is notable, lasting 15% longer before closure.
- Economically, every 100 incubated startups generate approximately INR1,590 crores annually, with their average asset value projected to reach INR10,627 crores by year nine.
Q: Why choose IIM Bangalore executive MBA course?
Q: Are there any exchange programmes in PGP courses at IIM Bangalore?
Students of the two-year PGP in Management have the opportunity to get double degrees by being a part of the Double Degree (DD) programme of IIM Bangalore. During this DD exchange, the selected students study at their home institution in the first academic year and are transferred to the host institution for the second academic year. The institute has collaborated with ESCP Europe Business School (Paris, France), Bocconi University (Milano, Italy) and Hitotsubashi University Business School, School of International Corporate Strategy (Hitotsubashi University, Japan) for the same.
Q: What is the IIM Bangalore PGP course all about?
Post Graduate Programme or PGP offered by IIM Bangalore is a two-year full-time residential course. Candidates pursuing PGP from IIM Bangalore are awarded an MBA degree. The programme lasts for six trimesters, spread over two years, with a summer project inclusive.
The course is offered in two specialisations, namely General and Business Analytics. The duration of the course is spread over six trimesters across two years, with a summer project intermediary.
The PGP students of IIM Bangalore are required to earn a minimum of 45 credits and a maximum of 51 credits in elective courses over three terms in their second year. The electives cover a wide array of topics. Mentioned below is a sample list of the electives offered here:
Social Entrepreneurship
Infrastructure Development
PPPs and Regulation
Business Analytics and Intelligence
Spreadsheet Model-Business Decision
Current Economic Scenario; Indian Economy and Policy Matters for Business
Global Securities Markets, etc.
Professor Thillai Rajan A. of IIT Madras remarked on the findings, stating, “This report turns the spotlight on incubators, a significant link in the startup value creation chain. Our research finds that incubators enhance the credibility of the startups that they support, leading to greater funding opportunities.”
Professor Rishikesha T. Krishnan, Director of IIM Bangalore, highlighted the broader implications, noting the role of innovation in supporting diverse creators and leveling the playing field.
A Call to Action for Stakeholders
The report, launched during the SummitUp event featuring prominent figures like Amitabh Kant, G20 Sherpa, emphasizes the urgent need for policymakers and business leaders to prioritize the development of effective incubators. Professor V. Kamakoti, Director of IIT Madras, reinforced this message, stating, “For Bharat to become a superpower, we must aspire to make our country a Startup Nation. This report addresses crucial challenges and offers recommendations for all stakeholders.”
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