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For the first time Global Forum on Business Incubators is being held in India from October 14 to 19, 2004 to exchange global and regional experiences in managing Business Incubators. To be inaugurated by the Minister for Science & Technology and Ocean Development, Shri Kipal Sibal, the Forum has been jointly organised by the Department of Science & Technology, FICCI and the World Bank under the Info-Dev Programme. Some other like minded organizations e.g., the University Grants Commission (UGC), Technology Development Board (TDB), Software Technology Parks of India (STPI) and Small Industries Development Bank of India (SIDBI) have also collaborated to strengthen this important event.
Over 300 participants including 125-150 international participants from about 60 countries comprising public and private decision makers, academia, public donors, private investors, project promoters and beneficiaries of information for development and business incubation projects are like to attend the Forum.
The five day event which will include a three day conference and a two day training programme, aims to provide a comprehensive training package focusing on crucial elements vital for a successful incubator programme i.e. resource mobilization, business plan, strategy development, operations, venture finance, legal marketing, IPR, networking etc.
A Conference (October 14-16, 2004) on the opportunities and challenges of promoting innovation, entrepreneurship, and new business creation in developing countries, particularly in ways that harness the creative power of information and communication technologies (ICT) both for traditional and new products and services. The conference will focus on the broader environment in which incubators function and the sustainability challenges of attracting private sector support for successfully incubated businesses. Placing incubators within the broader “innovation chain” and the broader context of private sector development and finance, the conference will explore the key gaps – in access to venture capital and other forms of finance, in policy and regulatory environments, in institutional capacity – that sometimes prevent developing country innovators from “taking ideas to market”, and explore ways to bridge those gaps.
A capacity-building, knowledge-sharing and networking workshop (October 18-19, 2004) for business incubators, incubator associations and others involved in promoting business incubation and innovation, particularly in developing countries. The workshop will then focus on how incubators can build their capacity, share knowledge and strategies, and mobilize public and private sector support to address these challenges.
Technology Business Incubators have been successfully employed the world over to bolster economic development by stimulating growth of knowledge based new enterprises in emerging technological areas, particularly Information and Communications Technology (ICT), Biotechnology, Nano Sciences. The technology driven and knowledge based developments not only exhibit tremendous business potential but also offer range of innovative applications beneficial to various sectors of the society. High-technology incubators responsible for creating wealth and jobs worldwide have been particularly successful in US, Israel and China. Incubators reduce the failure rate of small businesses by providing quality training and guidance to such companies in the initial stages.
At present, there are nearly 4000 incubators of various types operational in the World. In USA, there are more than 1000 incubators; Europe has nearly 1000 incubators including 300 in Germany. Among the developing countries, China has set up almost 400 incubators, most of them linked to Higher Education Institutes. Korea too, is reported to have about 30 Incubators while, Japan, Malaysia and Singapore are catching up.
The National Science & Technology Entrepreneurship Development Board (NSTEDB) of the Development of Science and Technology (DST), guided by the global experience, initiated a scheme for establishment of Technology Business Incubators (TBIs) in the year 2000 to promote start-up companies in the high-tech areas. The incubators nurture new ventures by providing specialized guidance, critical support services, innovative financing and networking support within a well equipped work space. Presently 15 TBIs have been established by the Department in several Institutions of excellence including IIT-Bombay, IIM-Ahmedabad, National Institute of Design-Ahmedabad, BITS-Pilani, Vellore Institute of Technology-Vellore and ICRISAT-Hyderabad in well identified thrust areas and several more are in various stages of development.
The most important factor in running a successful incubator programme, is networking in new economy. New information technologies have changed the way of doing business forever. The Government of India attaches a special significance to business incubators, for the development of high technology driven and knowledge based enterprises. Networking with global institutions and incubators and exposure on good incubator management practices have been the weak areas of the Indian incubators. It is hoped that the current Forum will go a long way in addressing these problems.
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