The Role of Business Incubators in Fostering Innovation and Technological Advancement in India

Authors

  •   Sukanya Dikshit Assistant Professor, Atlas Skilltech University, Tower 1, Equinox Business Park, Ambedkar Nagar, Kurla West, Kurla, Mumbai - 400 070, Maharashtra
  •   Zuleika Homavazir Professor, Atlas Skilltech University, Tower 1, Equinox Business Park, Ambedkar Nagar, Kurla West, Kurla, Mumbai - 400 070, Maharashtra
  •   Vinima Gambhir Associate Professor, Atlas Skilltech University, Tower 1, Equinox Business Park, Ambedkar Nagar, Kurla West, Kurla, Mumbai - 400 070, Maharashtra
  •   Malcolm Homavazir Associate Professor, Atlas Skilltech University, Tower 1, Equinox Business Park, Ambedkar Nagar, Kurla West, Kurla, Mumbai - 400 070, Maharashtra

DOI:

https://doi.org/10.17010/amcije/2023/v6i2-3/173337

Keywords:

Business Incubators

, Innovation, Technological Advancement, Start-Up Ecosystem, India.

JEL Classification Codes

, I230, I280, O320, O330

Paper Submission Date

, June 5, 2023, Paper sent back for Revision, August 20, Paper Acceptance Date, August 25, 2023

Abstract

Purpose : This study examined how Indian business incubators foster innovation and technological growth. Given India’s growing economy and burgeoning startup scene, it is imperative to comprehend the role of business incubators.

Methodology : A thorough literature research and case study analysis were used to determine the effect of business incubators. The study assessed their contributions to financial access, mentorship, collaboration facilitation, and innovation support.

Findings : As essential components of India’s entrepreneurial ecosystem, business incubators have been shown to be effective in fostering innovation and directing the expansion of start-ups. Their contributions to fostering partnerships, guaranteeing mentorship, and streamlining financing availability stood out as noteworthy highlights. However, a number of issues that these incubators encountered also surfaced.

Practical Implications : Acknowledging and enhancing the advantages of business incubators may help to establish India as a center for innovation. Resolving these issues might result in a start-up environment that is more influential and long-lasting. The results opened the door for stakeholders and policymakers to increase the efficacy of the incubation model.

Originality : While numerous studies discussed the start-up ecosystem in India, this work offered a comprehensive understanding of business incubators’ instrumental role in fostering innovation and technology advancement.

Downloads

Download data is not yet available.

Downloads

Published

2023-09-01

How to Cite

Dikshit, S., Homavazir, Z., Gambhir, V., & Homavazir, M. (2023). The Role of Business Incubators in Fostering Innovation and Technological Advancement in India. AMC Indian Journal of Entrepreneurship, 6(2-3), 52–63. https://doi.org/10.17010/amcije/2023/v6i2-3/173337

Issue

Volume 6, Issue 2-3, April-September 2023

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

References

Bhagavatula, S., Mudambi, R., & Murmann, J. P. (2019). Innovation and entrepreneurship in India: An overview. Management and Organization Review, 15(3), 467–493. https://doi.org/10.1017/mor.2019.52

Cohen, S., & Hochberg, Y. V. (March 30, 2014). Accelerating startups: The seed accelerator phenomenon. Available at SSRN. http://dx.doi.org/10.2139/ssrn.2418000

Dempere, J., Qamar, M., Allam, H., & Malik, S. (2023). The impact of innovation on economic growth, foreign direct investment, and self-employment: A global perspective. Economies, 11(7), 182. https://doi.org/10.3390/economies11070182

Economic Times, (2021). From Ola to Flipkart, the success stories that India’s IITs, IIMs spawned. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/from-ola-to-flipkart-the-success-stories-that-indias-iits-iims-spawned/articleshow/81785382.cms

Grimaldi, R., & Grandi, A. (2005). Business incubators and new venture creation: An assessment of incubating models. Technovation, 25(2), 111–121. https://doi.org/10.1016/S0166-4972(03)00076-2

India Science, Technology & Innovation. (n.d.). Startup oasis portfolio. https://www.indiascienceandtechnology.gov.in/innovations/incubators/startup-oasis-incubation-center-sitapura-jaipur

Indian School of Business, DLabs. (2023). Blockchain impact lab launched at Indian School of Business. https://www.isb.edu/en/news-events/news-grid/Blockchain-Impact-Lab-launched-at-Indian-School-of-Business.html

Klofsten, M., Fayolle, A., Guerrero, M., Mian, S., Urbano, D., & Wright, M. (2019). The entrepreneurial university as driver for economic growth and social change - key strategic challenges. Technological Forecasting and Social Change, 141, 149–158. https://doi.org/10.1016/j.techfore.2018.12.004

Livemint. (2021). How India’s top startup incubators fare in 2021. https://www.livemint.com/industry/start-ups/how-india-s-top-startup-incubators-fare-in-2021-11620156470488.html

Lundvall, B. Ã…., Srholec, M., & Verspagen, B. (2018). An introduction to innovation and growth. In B. H. Hall & N. Rosenberg (Eds.), Handbook of the economics of innovation (Vol. 1). Elsevier. https://www.sciencedirect.com/handbook/handbook-of-the-economics-of-innovation/vol/2/suppl/C

Marques, S. C., Saba, H., Winkler, I., & Nascimento Filho, A. S. (2022). Business incubators and sustainability: A literature review. International Journal of Advanced Engineering Research and Science, 9(9), 471–482. http://dx.doi.org/10.22161/ijaers.99.51

Mittal, A. (2021, April 12). 4 days, 6 unicorns, $1.55 billion — A week like none other for Indian startups. The Economic Times. https://economictimes.indiatimes.com/tech/startups/4-days-6-unicorns-1-55-billion-a-week-like-none-other-for-indian-startups/articleshow/82019190.cms

Mungila Hillemane, B. S., Satyanarayana, K., & Chandrashekar, D. (2019). Technology business incubation for start-up generation: A literature review toward a conceptual framework. International Journal of Entrepreneurial Behavior & Research, 25(7), 1471–1493. https://doi.org/10.1108/IJEBR-02-2019-0087

Polder, M., van Leeuwen, G., Mohnen, P., & Raymond, W. (June 18, 2010). Product, process, and organizational innovation: Drivers, complementarity, and productivity effects. CIRANO - Scientific Publications 2010s-28. http://dx.doi.org/10.2139/ssrn.1626805

Rippa, P., Quinto, I., Lazzarotti, V., & Pellegrini, L. (2016). Role of innovation intermediaries in open innovation practices: Differences between micro-small and medium-large firms. International Journal of Business Innovation and Research (IJBIR), 11(3), 377–396. https://doi.org/10.1504/IJBIR.2016.078872

Shrotriya, S., Dhir, S., & Sushil. (2018). Innovation driven ecosystem for quality skill development in India. Benchmarking: An International Journal, 25(8), 2997–3020. https://doi.org/10.1108/BIJ-11-2017-0320

Soluk, J., Kammerlander, N., & Darwin, S. (2021). Digital entrepreneurship in developing countries: The role of institutional voids. Technological Forecasting and Social Change, 170, 120876. https://doi.org/10.1016/j.techfore.2021.120876

Startup Incubation and Innovation Center, IIT Kanpur. (2023). Startup portfolio. https://www.siicincubator.com/portfolio/portfolio.php

Thai, Q. H., Mai, K. N., & Do, T. T. (2023). An evolution of entrepreneurial ecosystem studies: A systematic literature review and future research agenda. SAGE Open, 13(1). https://doi.org/10.1177/21582440231153060

Xiao, W., Kong, H., Shi, L., Boamah, V., & Tang, D. (2022). The impact of innovation-driven strategy on high-quality economic development: Evidence from China. Sustainability, 14(7), 4212. https://doi.org/10.3390/su14074212

Zhou, X., Cai, Z., Tan, K. H., Zhang, L., Du, J., & Song, M. (2021). Technological innovation and structural change for economic development in China as an emerging market. Technological Forecasting and Social Change, 167, 120671. https://doi.org/10.1016/j.techfore.2021.120671