It
has been a difficult time for businesses of all sizes due to the uncertainty of
this global pandemic, but the impact on startups with shorter cash runways has
been severe. Until this pandemic runs its course, survival and sustainability
is the key focus for entrepreneurs. In this global economic environment, and at
a time when startup founders are forced to rethink the fundamentals of their
ventures, a sophisticated support system like an incubator or startup
accelerator can be a blessing.
There
are a number of startup incubators operating in
The greatest benefit is being on a
journey with a network of fellow founders to lean on, learn from and grow with.
Like
many incubators around the world, there are a handful of incubators in India
that have gone virtual for short and mid-term needs of startups arising amid
the global pandemic situation. The primary function of such virtual incubators
is now to cater to startups located across the country and maintain community
engagement and enthusiasm to a level experienced in a physical centre.
1.Supreme Incubator
Supreme Incubator has been
active in the entrepreneurial ecosystem for the past 2 years - organizing
regular events and mentorship meetups. With their Summer cohort, the program
has transitioned to a fully digital model where the 30 selected founders now
get together on regular video calls to share progress, meet mentors or join
workshops. With a virtual program, they have expanded the scope of support
offered and startups incubated. The mission is to make
The program of SI has received great reach with
over 100 applications in the first cohort (Winter 2020) and 350+ applications
in the second cohort (Summer 2020), currently, more than 600 entrepreneurs have
applied to the program.
2.Catalyst by Societe Generale
Offering
global exposure and mentorship, Catalyst, a 12-week innovation programme from
Societe Generale’s global solution centre in
3.NSRCEL by IIMB
With programs specifically
catering to entrepreneurs with profit ventures and social ventures, also
student and women entrepreneurs, NSRCEL offers its support to various players
of the startup ecosystem.
NSRCEL brings together
startups, industry mentors, eminent academicians from its parent institution
Indian Institute of Management
NSRCEL is also the first
incubator with a program tailored for social entrepreneurs and their unique
challenges.
4.INVENT
Innovative Ventures and Technologies for
Development (INVENT) is a joint collaboration of the Technology Development
Board (TDB), Government of India and the Department of International
Development (DFID), Government of the United Kingdom. INVENT aims to make a
positive social impact by providing incubation support to technology-oriented
start-ups. Through the INVENT program, SIDBI Innovation and Incubation Centre
(SIIC)
5.IAMAI
Industry body IAMAI has launched the
country's first virtual incubator for short and mid-term needs of
technology-related startups arising amid the global pandemic situation. The
primary function of the virtual incubator is to address the needs of the start-ups
located outside the major cities of Bengaluru, Mumbai, Chennai,
IAMAI also said that
it would be providing an initial start-up kit worth 70 Lakhs to all those
registered with the virtual incubator.