Are you looking for the best incubators for startups in India? You are in the right place. In this article, we will explore some of the leading business incubators you can trust with your million-dollar business idea in India.
What are incubators for startups?
You sure need to know what are incubators for startups. The incubators for startups are the places where the startups live. These are the places where you get your ideas and concepts turned into successful ventures.
A startup incubator is a program designed to help growing companies or startups successfully launch and mature into the next stage of life.
The term startup incubator is a common reference to programs that provide guidance and resources to startups, or that provide a physical facility for the startups to operate in, with the intent of helping the startups to mature into successful businesses.
With that in mind, it is safe to say that an incubator helps your idea blossom into a fully formed company, capable of disrupting industries.
Here are some of the best incubators for startups in India.
1). IAN incubator
IAN (India Angel Network) is the largest incubator in the nation founded by the country’s top angel investors.
IAN incubators have incubated over 200 startups and over 100 have exited in the last 5 years. They have been recognized as the best incubators by Inc. Magazine 4 times in the last 3 years.
Established in 2006, IAN incubator for startups in India not only provides financial support, they also give you access to quality mentoring, vast networks, and strategies on the best way to execute your startup idea in India.
In recent years, the incubator has been known to operate in agriculture, e-commerce, gaming, the internet, mobiles, among others.
Centre for Innovation Incubation & Entrepreneurship is a leading incubator and a knowledge-sharing platform in India, bringing together entrepreneurs, investors, and industry experts.
Just like IAN Incubator in India, CIIE gives you access to everything you need to start and grow your startup in India.
You get access to mentoring, training programs, networking, workshops, funding, among other things crucial to growing your company to new heights.
CIIE has been known to focus on the following types of startups in India;
- Consumer Internet
- Enterprise Tech
- Financial Inclusion
In fact, these famous startups Biosense, Razorpay, Lal10, Thrillophilia, have gone through this incubator in India.
The Nadathur S Raghavan center for entrepreneurial learning (NSRCEL) is another one of the best incubators for startups in India.
Created with the able support from the Michael and Susan DELL foundation with only one goal; nurture startups in India through mentoring support, consulting services, and rigorous training programs.
At the moment, Nsrcel incubator for startups in India houses at least 18 startups, making it one of the biggest educational institution startups in India.
Here are some of the notable startups nurtured through this incubator in India;
- Science Hopper
- BubbleNut Wash
- Highway Delight
The Indian School of Business is a premier institution for entrepreneurship and innovation. It is one of the few schools in the world that is ranked among the top 50 management schools by the Times Higher Education World University Rankings and top 15 business schools and top ten management schools by the Financial Times Ranking.
On top of this, ISB has started an incubator to help its budding entrepreneurs navigate the startup world.
Enters the DLaps.
DLaps is one of the top incubators for startups in India. Inside, you will find co-working spaces, meetings, and conference rooms, among other services.
While the incubator doesn’t focus on a specific industry, most of the startups inside now provide Healthcare solutions, Health and Wellness product and services, and Social innovations.
In fact, some of the notable startups include;
- Chakr Innovation
5). PayPal Incubator
Founded in 2013, PayPal Incubator focuses on Fintech startups in India. It was started as a sector agnostic accelerator and tech incubator, but they, later on, expanded it to focus on what it does today, fintech.
The program runs for five months and you get access to mentorship, infrastructure support, and networking opportunities. The program has produced some notable startups such as Finbox, Neoeyed, Paymatrix, Scalend, Tybo, among others.
How do I join a startup incubator?
While some incubators do not have any formal admission criteria, you can expect to be selected if you have a compelling business idea that you can prove to be a great startup.
Either way, here are some steps you can take now to increase your chances of getting accepted into an incubator.
1). Be serious about your application
The application process is always rigorous, and some incubators are picky in what they look for. Make sure you follow the instructions and fill them out properly.
No matter how awesome your idea is, if your personality doesn’t match that of the incubator, it will be difficult for you to connect with the team.
2). Build your startup assets
A startup means many things to many people. It means you can do whatever you want, with no boundaries. Most of the time, it also means you have to do as much as you can with the resources available to you.
You don’t want to make the mistake of thinking that a successful startup is all about your product. It is true that your product or service plays a very important role, but the execution of the product and the team is just as important. If your startup does not have traction, it will become very difficult to get into an incubator even if you have an awesome product.
You need to work on building great relationships. Even if a startup incubator is not about you, they will still need to have a relationship with you.
Even if your dream incubator didn’t take you in, it is not the end of the road. Keep in touch with them by sending them your latest milestones.