Technology Business Incubation
– a novel approach to business development
Courtesy Jobnet Magazine
The globalisation process is moving up the R&D value chain and in this direction the present objective is to encourage higher value addition activities and preservation of natural resources through the development and application of high technologies such as biotechnology, new materials; computers, telecommunications and information techniques and systems, micro-electronics, etc. Creation of completely new industries requires the application of knowledge intensive innovative technologies. To apply innovative technologies, the results of original basic research need to be properly nurtured in a favourable environment. In India, a major effort has been made in the past to support basic research covering a wide range of fields. As a next step, the “incubation” stage should follow where potentials of new industries are studied. The next step should follow an “innovation stage”, which helps new industries to grow on a larger commercial scale. In this “Innovation process”, focus is given to specific high tech industries. In this direction, the “Technology Incubator” has a crucial role to play.
A Business Incubator may be defined as an organisation which offers a range of business development services and access to small space on flexible terms, to meet the need of new start-up companies. The package of services offered by a business incubator is designed to enhance the success and growth rates of the incubating companies. Business Incubators envisage a systematic approach to new enterprise development, which can be described as consisting of the following dimensions:
• Enterprise development;
• A business and technical consultancy network;
• Entrepreneurial synergy;
• Flexible affordable working space;
• Technical Infrastructure; and
• Shared office services
These six dimensions describe the purpose, benefit, design and management of business incubators. These dimensions work together to provide the unique defining character of a business incubation programme. In a Technology Business Incubator, the focus is on developing knowledge based companies in the emerging areas of technology.
The JSS Mahavidyapeetha through the JSS Academy of Technical Education, NOIDA promotes an IT Business Incubator with financial support from the Department of Science and Technology, Government of India. The Academy has been established in a sprawling campus of 28 acres in the institutional area of NOIDA. The proximity to the industrial area and the Software Technology Park (STPI) ensures healthy interaction with industries and access to high-class infrastructural facilities for the establishment of IT related companies.
MISSION
The mission of IT Business Incubator is to create an entrepreneurial culture among the students and faculty, and to promote technology-based start-up companies in the region to maximise their impact on economic development.
OBJECTIVES
1. To provide a managed workspace with low cost office facilities and business and professional services necessary for nurturing and supporting early stage growth of technologies and technology based enterprises.
2. To cover some of the risks involved in the early stages of incubation of technologies and enterprises particularly in the area of emerging technologies.
3. To provide various forms of business planning and managerial advice, finance and accounting, access to business networks, legal services and other value addition to the business.
4. To generate sustainable income for the incubator to plough back in supporting more & more incubates, there by net wealth creation for the country.
