Role and Importance of Technical Business Incubators in India Literature Review

IPEM Journal Management > Role and Importance of Technical Business Incubators in India Literature Review

Role and Importance of Technical Business Incubators in India: Literature Review

Mukul Jain , Dr. Chanchal Chawla

Vol 18 , Issue 1 , July 2024 | Pages: 30-42

DOI: 10.61691/IPEM_Mgmt.18.2024.30-42

Published Online: July, 2024

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Author Details

1. Mukul Jain, Research Scholar, Teerthankar Mahaveer University, Moradabad, U.P., India
2. Dr. Chanchal Chawla, Professor, Teerthankar Mahaveer University, Moradabad, U.P., India

Entrepreneurship is a well-defined discipline with autonomy that can operate independently and as a separate entity. It refers to the development of an entirely new organization. Entrepreneurship is a major factor and key to success for any individual who intends to develop an entirely novel and new business organization which is an entirely disciplined and independent entity. Business incubation is an economic development tool primarily designed to help create and grow new businesses in a community. Business Incubators help emerging businesses by providing various support services such as assistance in developing business and marketing plans, building management teams, obtaining capital, and access to a range of other more specialized professional services. Sherman and Chappell (1998). A Technology business incubator (TBI) is typically an organizational setup that promotes the setting up of an ecosystem to nurture various enterprises by providing support to them during their incubation period. The support may include providing state of the art facility for workspace, shared office services, and access to specialized equipment, labs, and workshops along with value-added services like fundraising, legal services, business planning, technical assistance, and networking support. The major aims and objectives of the technology business incubators are to produce profitable business enterprises that can create employment in the region. Technology Business Incubators: An Indian Perspective & Implementation Guidance Report by e-Centre for Internet and Society, India. This Review paper is focused on exploring various aspects which include the evolution and Functioning of Business Incubators in the Indian context, the role and support of government and non-government agencies involved in supporting and developing an ecosystem for business incubation, and exploration of various performance measures of Successful Business Incubator to foster Innovation, Entrepreneurship, and startup culture among the youth. This review will be useful in exploring various aspects of low performance of Business Incubators and will be useful in developing policies and strategies by the agencies involved to boost enterprise development locally and globally with the support of Technology Business Incubators.

Keywords

Business Incubator, Innovation, Incubation, Entrepreneurship, Technology
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Jain & Chawla. (2024, July 31). Role and Importance of Technical Business Incubators in India: Literature Review. Journal of IPEM, 18(1), 30–42. https://doi.org/10.61691/IPEM_Mgmt.18.2024.30-42