Incubation of Ideas

On a rainy, slushy afternoon, a group of professors met to discuss and plan for setting up an incubation centre in a college campus. A simple definition of an incubation centre is to provide support to entrepreneurs who are starting their own businesses after their graduation. The centre will also serve as a vital source of motivation for budding entrepreneurs. They also promote innovation and creativity by facilitating knowledge exchange and collaboration between students, teachers and professionals. The key areas of an incubation centre are skill enhancement, networking opportunities, encouraging innovations and inculcating an entrepreneurial mindset. 

 

The Government of India has initiated the Atal Innovation Mission (AIM) to promote a culture of innovation and entrepreneurship. One of the primary objectives of AIM is to promote and establish world-class incubation centres. These centres will be established across the country. 

 

UGC guidelines stipulates that the incubation centres should come under the Institute Development Plan. The various stages in incubation are: The Pre-incubation stage, the Idea stage, the Seed stage, the Early stage, the Growth stage, the Expansion stage and the Maturity stage. Some of the activities that can be conducted by the incubation centre of a college are, expert talks on topics related to entrepreneurship, seminars and workshops on topics like problem solving and ideation, Ideathons where ideas are discussed, screened and suggestions are given.