Asian Journal of Innovation and Policy

Asian Society for Innovation and Policy (아시아기술혁신학회)
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New Venture Incubation Framework: An Indian Academic Model

  • Received : 2018.11.02
  • Accepted : 2018.12.23
  • Published : 2018.12.31
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Abstract

Institution-based Technology Business Incubators are on the rise in India, as a means of promoting innovation-based tech start-up ecosystems, due to increased policy initiatives. Against this background, we have traced the origin and process of building a start-up ecosystem in IIT Madras, Chennai of India, based on semistructured interviews held with the stakeholders of the ecosystem. Subsequently, we have ascertained the key components of IIT Madras start-up ecosystem, and the process of incubation comprising pre-incubation, incubation and post-incubation phases. Finally, we have derived the key lessons from the ecosystem development experience and incubation process which enable generation of start-ups from both students and faculty, apart from alumni and ex-industry executives. Though this ecosystem model has emerged over a period of time through learning and experience, the ecosystem is able to generate more than 100 start-ups, majority of them being from students and faculty. Thus, the evolved start-up ecosystem of IIT Madras is able to generate faculty-supported and student-led entrepreneurship successfully.

Keywords

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Figure 1 Start-up incubation framework at IIT Madras

Table 1 Number of semi-structured interviews

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Table 2 Chronology of the emergence of start-up ecosystem entities in IIT Madras

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Table 3 Services/Facilities provided at Nirmaan

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Table 4 Dimensions of incubation support for entrepreneurship & start-up generation

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Table 4 Start-up generation at IIT Madras - sources, process and outcomes

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