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Business Startup Classroom: Every week we tell you about the essential things for startup through business startup. It is important for you to know about the needs and problems of startups and make some efforts for them. With the help of previous articles, you have understood the facts related to starting your startup and its funding. This time also we have brought some information for you which will be very useful for you.
In the articles till now, we have already understood that starting a startup is a difficult journey, where you move towards a big goal with lots of ups and downs. In startup, you need many people who can help you in this journey, reduce your chances of failure, give you the necessary facilities which are needed to start a startup. This is where the incubation centers start. So let us understand in today’s article how incubation centers play an important role in making a startup successful and what things a founder should keep in mind while selecting an incubation center.
what do incubation centers do
Suppose you have a seed, then to make it a tree, you will need the necessary knowledge from the ground to take care of it and the right skills to protect it. So incubation centers play this role for the seed in the form of startup.
These are organizations whose initial work ranges from ideation to market access and sales, funding support for startups. They work to provide working space, mentoring, marketing, product development, initial funding, network support, regular training, team support, labs, necessary tools, everything to your startup. Today, many government and non-government incubation centers (with the help of the government) are running in every state from the government side, where along with this support, initial grants are also given.
How to select incubation centers
To understand this, you have to explain yourself that what support do you need, or do you just need a place to work, or help with sales, marketing, funding. Today thousands of incubation centers are working in the country, you can take their support from anywhere, so whenever you select an incubation center, go to the website of that organization and see what kind of support is available there, founders Who are they, what is their experience, what kind of startups do they focus on, see the list of mentors, as well as research on which startups have been incubated here before and talk to them if needed.
It is important to mention here that each incubation center has its own selection criteria, where after applying, you have to go through various interview processes. Keep in mind that incubators charge you some equity or success fee to support you.
When to apply for incubation
Incubation centers have been made according to the stage of every startup in the country, you have to decide when you should go, what are the stages of startup and what are the requirements at that stage, in the Startup Classroom series Do read the article written above my funding.
Although I can say from my experience that you should try incubation in the early stages, it reduces your chances of failure a little bit, along with nowadays most of the centers provide a lot of free tools which are hosting, email, CRM, Billing saves you lakhs of rupees on marketing tools.
How to find Incubation Centers
There are a lot of government and non-government centers in the country today. Today there are many such schemes of the government which are giving funding support right from starting the startup. By visiting the website of Atal Incubation Centers of the Government of India, you can get information about many centers being helped by the government and the government. Along with this, all the big companies like AWS, Google are supporting the startup, SkillingYou itself was selected in the Top 100 Promising Startups of 2022 by Google and MEITY and whose support we are getting till now.
The selection process for Google Appscale 2023 has started, you can also apply here. Also, you can try 500 Startups, Cisco Launchpad, Indian Angel Network Startup, Incubators running in IITs, IIMs, Innoscale Global Foundation focused on Rural India.
Note: The author is the Founder and CEO of Skilling You, the views expressed are personal.
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