The increasing recognition for Innovation and Entrepreneurship as a key development goal for ensuring the welfare of the society and economic growth, is a relatively new phenomena, promising a great leap forward in development. Business Incubator is a potent component in the National Innovation System designed to foster Techno-entrepreneurship more systematically and comprehensively. As a repository of venture knowledge, incubators evolve as the social memory of venture risk taking processes and map the learnings for better venture development continuously, day in and day out. It is important these unique experiences of Incubators in knowledge based venture development for creating new innovation society, are analyzed, understood, disseminated and practiced with suitable adaptation at incubators level and at policy making level. This would improve our delivery capability, greatly as a performing incubation community and it is need less to add the immense benefits, it can bring in at the venture firm level for the budding entrepreneurs.
The competitiveness to serve the market better and converging co-operation with business roles and rules are vital links for the success of a new venture. Often the absence and or negligence of these links prove to be detrimental and self destructive, vicious circle. Business Incubators ensure these positive and productive engagements by tailoring support for their incubatee companies and establishing links with critical resource networks like seed capital providers, investors and professional business experts. Business Incubators as service models have helped the new ventures to develop, build and accelerate their companies and strengthen the social fabric of all societies.
Business Incubators provide a fascinating and inspiring mix of kaleidoscopic performance results, if properly viewed and if the viewer is willing to take a sincere attempt. However collating and presenting the facts, figures and insights albeit in limited way and in user friendly formats are pre-requisites for ensuing better understanding both with in and outside the practicing communities of professionals, development agencies and policy makers. The data and findings presented in the status report as a joint effort of NSTEDB, DST and ISBA would help all relevant organizations, stakeholders and people connected with the business incubators to shape up their offerings for better overall effectiveness of the incubator program and help and build the desired ecosystem for innovation and entrepreneurship.