meaning of incubation center

□Business incubators are institutions that support entrepreneurs in

developing their businesses, especially in initial stages. These are
organizations geared towards speeding up the growth and success of start-
ups and early stage companies. Incubation is usually done by institutions
which have experience in the business and technology world.

□Incubation support includes providing technological facilities and advices,

initial growth funds, network and linkages, co working spaces, lab facilities,
mentoring and advisory support. They are often a good path to capital from
angel investors, government organizations, economic-development
coalitions, venture capitalists and other investors.

□Most of the incubators have potential capital to invest in growth startups,

or have links to potential funding sources. They provide access to
compliance services from professionals such
as accountants and lawyers; not to mention the invaluable mentoring and
networking support available at the incubation center, through the staff
and other entrepreneurs at the incubator.

□As early stage hand holders, incubators act as an integral part of the start-
up ecosystem. They act as a catalyst for both regional as well as national
economic development. There are different types of incubators: Academic
institutions; Non-profit development corporations; For-profit development
ventures; Venture capital firms, and combinations of the above.

□Some of the TBI services that include, Work space made available on a
stretchy and reasonable, but that is provided on temporary basis and few
common services like secretarial support, shared usage of office
equipments, business consulting, access to development support, etc.

□National Business Incubators Association (NBIA) defines the Technology

Business
Incubation as, "Business Incubation identifies the method of preliminary
and rising companies, provided that entrepreneurs with the know-how,
complex and utensils they need to make their ventures successful.
Incubation programmes branch out economies, commercialize
technologies, create jobs and create wealth". Through Business incubation,
dreams of new and emerging businesses are changed into actuality with
condensed risk.

working of incubation center.

□The Business Incubation works as an investor by putting resources into the

management, rather than just thoughts.

□The Business Incubator ascertains the capacity of the business visionary

just as the market capability of the dare to decide the business potential.

□Different techniques are utilized and applied to evaluate the business

person and business
potential. This requires the inclusion of agents, industry and business
advancement specialists.

□Exceedingly fruitful business visionaries have high interior locus of control

and a significant requirement for accomplishment. The Business incubation
process is said to be the systematic work that support the progress and
development of enterprises at the early stage.

□This incubation process develops the new conducive environment which

supports the new ventures by providing the assistance in launching the
business centers at minimal cost and optimizing the efficiency of
enterprises.