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Incubation hubs are being revolutionized in Indian states

State governments are encouraging startups, setting up incubation hubs, accelerators and funding startups for them to grow and aiming to reach cities as well as small towns. Each state is working towards building a strong network of entrepreneurs while competing with other states for the title of ‘The Startup Hub’. Several states launched their own startup programmes and have set up incubation centers which will give more opportunities to entrepreneurs to enroll themselves. Odisha launched ‘Startups Odisha Yatra 2.0’, a mobile incubator that explored over 100 educational institutions in 60 days. Observing the success of Startup Odisha Yatra 2.0, the CM launched another campaign called ‘Startup Express’.

Kerala government set up the Kerala Startup Mission (KSUM) for entrepreneurs’ development and incubation ventures placed in universities and colleges. Currently, Kerala has about 375 mini-incubators acting as kick-starters for students studying there. The innovation streak reached other states such as Bengaluru, Himachal Pradesh, Mumbai, and a newly launched incubation hub in Manesar. The idea is to support startups and incubation hubs by funding them and giving them access to mentors, facilities, etc. The government is also taking steps to enhance the startup culture.

Recently, another step initiated under the Startup India Seed Fund Scheme (SISFS), with a budget allocation of over ₹477 crores out of a total fund of ₹945 crore corpus fund was approved for Incubators. The Ministry of Commerce and Industry stated “the government through stakeholder’s consultations seeks regulatory and policy-related recommendations for enhancing the ease of doing business and reducing the compliance burden for the startup ecosystem. It also facilitates participation and engagement of Indian startup ecosystem at international platforms.”

 

 

 

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